By John Helmer in Moscow In Russia it is traditional for the tsar to invite the culpable to assist him in finding and punishing the culprits; or to bargain for scapegoats. On Thursday last, October 15, Prime Minister Vladimir Putin told the regular weekly session of government ministers that he has ordered the Prosecutor General […]

by John Helmer - Thursday, October 22nd, 2009
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By John Helmer in Moscow In the very small world of Russian steelmaking genius, Dmitry Pumpyansky (see right figure) has always been thought a bright bird at managing his pipemills, rather than for picking the right ones to buy, or the right price to pay. As the history books show, the acquisition of the Russian […]

by John Helmer - Monday, October 19th, 2009
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By John Helmer in Moscow The board of Vnesheconombank (VEB), the state bailout bank chaired by Prime Minister Vladimir Putin, agreed yesterday to extend for a year a $1.8 billion loan to the Evraz group, controlled by Roman Abramovich’s Millhouse holding. The loan was first issued in mid-November 2008, and is the largest single government […]

by John Helmer - Friday, October 9th, 2009
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By John Helmer On July 31, the UK Court of Appeal upheld the ruling of High Court Justice Christopher Clarke that the administration of law in Russia is liable to be manipulated by powerful Russian businessmen and politically influential individuals pursuing vendettas for their financial gain. “Improper interference by State actors” was the phrase accepted […]

by John Helmer - Wednesday, October 7th, 2009
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To Muratov D.A. Editor in chief “Novaya Gazeta” 101990, Moscow, Potapovsky per., 3 From: Law firm “Ivanyan and partners”, lawyers of “Gunvor” company of T. Tornqvist and G.N. Timchenko Subject: Publication in “Novaya gazeta” dated 24.08.09 and letters addressed to T. Tornqvist and G.N. Timchenko dated 11.08.09 and 31.08.09. September 4th, 2009. Dear Dmitry Andreyevich,

by John Helmer - Sunday, October 4th, 2009
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By John Helmer in Moscow The Russian government’s quid pro quo for state financing for the Mechel group’s coalmining operations appears now to include the takeover of a fourth steel plant from the bankrupt Estar group, owned by Vadim Varshavsky. According to Dmitry Teplov, the head of the industry department in the Perm region, Mechel […]

by John Helmer - Thursday, October 1st, 2009
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By John Helmer in Moscow The Guinean Government in Conakry says it has enough evidence to launch a new court claim against Russian aluminium company, Rusal, for at least $1 billion. A local court filing is expected shortly, government sources in Conakry say, citing evidence of inflated costs and allegations of manipulation of financial accounts […]

by John Helmer - Wednesday, September 30th, 2009
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By John Helmer in Moscow Oleg Deripaska, the controlling shareholder and chief executive of Rusal, Russia’s bauxite and aluminium monopoly, is attempting to run the gauntlet of international courts and Hong Kong stock exchange investigators, as time runs out for him to meet his cash-or-list obligations to his shareholding partners, Russian oligarchs Mikhail Prokhorov and […]

by John Helmer - Tuesday, September 29th, 2009
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By John Helmer in Moscow Vadim Varshavsky, the owner of the bankrupt Estar group of midsize, specialty steel mills, has made his first public appearance in Russia since his financial group collapsed with debts of up to $4 billion. Until recently, he had been thought to be staying in London, or in another location abroad. […]

by John Helmer - Tuesday, September 29th, 2009
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Key: Rear left, Congressman Bill Pascrell, Democrat, New Jersey Rear right, NBA Commissioner David Stern Centre, Stuart Levey, Under Secretary of the Treasury for Financial Intelligence Rack: Mikhail Prokhorov Front left, Senator Paul Sarbanes, author of financial accountability statute Front right, Daniel Goelzer, Chairman of Public Company Accounting Oversight Board For Immediate Release September 23, […]

by John Helmer - Sunday, September 27th, 2009
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