15 June 2004 15:38
Moscow press review for June 15, 2004
The Russian government plans to use the stabilization fund, which
is expected to top 500 billion rubles by the middle of next year, for
MOSCOW. June 15 (Interfax) - The following is a digest of Moscow newspapers published on June 15. Interfax does not
accept liability for information in these stories. POLITICS & ECONOMICS
President Vladimir Putin moved to calm a financial market shaken
by a crisis of confidence among banks, telling Central Bank chief
Sergei Ignatyev on Friday that there should be no mass purges of the
payments to pensioners and foreign creditors, according to the draft 2005 budget submitted to the Cabinet on Monday
(Vedomosti, p. A1).
Over Russian objections, Kazakhstan last week signed a contract
with Britain's BAE Systems to modernize the country's air defense
OIL & GAS
The management of Yukos has asked the government not to bankrupt
the oil major, and in exchange promises to pay off all tax claims,
banking system. The Central Bank, meanwhile, lowered the refinancing rate and reserve requirements to boost liquidity
(Vedomosti, p. A1; Kommersant, p. 5; Moscow Times, p. 1).
systems, which will give NATO access to the CIS' integrated air defense system and cause considerable additional
expenses for Russia (Kommersant, p. 11).
The wave of personnel changes at Gazprom's financial entities has
reached Lider, the company that manages the reserves of Gazfond,
Moscow fell one notch to No. 3 behind Tokyo and London in an annual ranking of the world's most expensive cities
for expatriates to live in, mainly due to the weaker dollar (Kommersant, p. 11; Moscow Times, p. 5).
The Russian and British shareholders of TNK-BP have reached an
agreement that will allow the consortium of the Alfa Group, Access
persuade Group Menatep to give up control of Yukos and sell some assets to state companies. But the government is not
ready for negotiations (Vedomosti, p. A1).
Ukraine's Investment Metallurgical Union won the tender for
Krivorozhstal with a bid of $800 million for the 93.02% government
A Swiss court on Monday ruled to unfreeze another $3 billion in Yukos assets, which combined with the $1.6 billion
unblocked last week means that most of the estimated $5 billion of the company's assets in Switzerland frozen at
the request of Russian prosecutors have now been released (Kommersant, p. 1; Moscow Times, p. 5).
Moscow conglomerate AFK Sistema still hopes to enter the Indian
mobile telephony market, despite a failed bid to buy 33% of India's
Russia's largest nongovernmental pension fund. Anatoly Gavrilenko, Jr. will replace Igor Zinkevich as general
director (Vedomosti, p. B1).
Metals and automotive tycoon Oleg Deripaska entered the airline
business Friday, winning a government auction for 51% of regional
Industries and Renova to sooner get its hands on the $3.75 billion that BP owes to the Russian partners in the merged
company (Vedomosti; Kommersant, p. 7). METALS & MINING
stake in the steelmaker. Russia's Severstal and EvrazHolding were shut out of the tender, the results of which
might yet be disputed (Vedomosti, p. B1; Kommersant, p. 5; Moscow Times, p. 5). TELECOMMUNICATIONS, MEDIA &
TECHNOLOGY
fifth largest cellular operator Idea (Vedomosti, p. B1). TRANSPORTATION
carrier Kuban Airlines with a bid of about $25.2 million (Vedomosti; Moscow Times, p. 5).
Interview: Gennady Fadeyev, president of the Russian Railways Company (Vedomosti). [RU ASIA EUROPE EEU EMRG PRESS RRL
AIR AER TEL STL MRG UA CRU ENR NGS FIN BNK GVD KZ]
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