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Vekselberg and Deripaska Put Someone Else's Eggs into Own Basket

Vekselberg and Deripaska Put Someone Else's Eggs into Own Basket
11.10.2006

In Moscowcreation of the world's largest aluminium concern was declared. The agreement on amalgamation was signed by two Russian companies – RUSAL and SUAL as well as Swiss company Glencore International AG. The agreement should illustrate evidently increase of power of the Russian industrial capital if not for one circumstance – very little remained from Russian capital.

New company "Russian Aluminium" from group RUSAL will include actives: Bratsky, Krasnoyarsky, Novokuznetsky, Sayanogorsky aluminium factories, Achinsky Aluminous Works, Nikolaevsky and Boksitogorsky aluminous factories, bauxite-aluminous complex in Friya (Guinea), Company of bauxites of Kindia (Guinea), Company of bauxites of Gyana, a share in aluminous factory QAL (Australia) and also ARMENAL, SAYANAL, Cathodic factory in China.

From Group SUAL "Russian Aluminium" will enter: Irkutsky, Uralsky, Kandalakshsky, Bogoslovsky, Nadvoitsky, Volgogradsky and Volkhovsky aluminium factories, Zaporozhsky Aluminium Works, Pikalevsky aluminous factory, SUBR, Ural Foil and also "Kremnij", SUAL-SILICON-Urals and SUAL-PM.

From Glencore International AG the company will enter: factories Aughinish, Windalco and Alpart, Eurallumina, Kubikenborg.

As we can see, even from the part of the "Russian" participants not all actives are Russian. But this is not the main thing.

The board of directors of the company SUAL is headed by V.Vekselberg though also known for the patriotic handling with various eggs but being the citizen of the USAfor a long time. Other members of board of directors - Blavatnik, Bronstein, Grinberg and Skornyakov, according to our data, possess foreign citizenship.

Thus among the board of directors so patriotically named RUSAL two members are foreigners out of five. And three other, headed by O.Deripaska though being natural Russians have fixed themselves strongly in the West long time ago.

And the third, perhaps, the most important. What is the reason of having in this mighty holding enterprises which are situated in different regions of a planet? What is the reason of being Swiss Glencore among them? The only reasonable explanation is just withdrawal of actives of RUSAL and SUAL far away from the Russian jurisdiction. This decision in connection with business and authority in Russiais - more than reasonable. But what are "patriots" happy for? For the fact that now Vekselberg and Deripaska can be not afraid of any Office of Public Prosecutor and no Special Purpose Police Unit can touch them?

Liberals also don’t have much to be pleased with. In fact from sale of their actives to foreign owners Russiawon’t turn into the Europe- more likely into Nigeria("nigerian" model of management of the property from Londonis realized precisely here in Russia). And in Nigerialiberals are treated in a way Lord forbid!...

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