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Chukotka Governor Accused of Stealing Moscow’s Property
Moscow Mayor Yuri Luzhkov lashed out at Chukotka Governor Roman Abramovich Saturday saying “he and his team basically stole from Moscow” the assets with which the city “could have provided itself with oil for 40 years ahead”. The Moscow mayor meant Sibneft’s dilution of a share of Sibir Energy in their joint venture Sibneft-Yugra, which Sibir Energy was going to add to the authorized capital of Moscow Oil and Gas Company, controlled by the city authorities. Sibneft calls the accusation unfounded referring to numerous attempts of Sibir Energy to prove the unlawfulness of the dilution of its share in the joint venture at court, but failed.
Yuri Luzhkov thus backed up Sibir Energy, controlled by the president of Moscow Oil and Gas Company (MNGK) Shalva Chigirinksy, which is currently trying to prove the unlawfulness of the dilution of its share in Sibneft-Yugra from 50 percent to less than 1 percent at courts in Russian and British Virgin Islands. Luzhkov said the city authorities were going to “put the point before Russian and British tribunals head-on to return the missing assets.”
Sibneft-Yugra was set up on a parity basis by Yugraneft (Sibir Energy owns a 99.99 percent stake) and Sibneft in 2000. Yuri Luzhkov considered it possible to equate the interests of Sibir Energy and those of the Moscow Government because the share of Sibir Energy in Sibneft-Yugra was supposed to become Chigirinksy’s contribution to MNGRK owned together with the Moscow authorities. Meanwhile, the share of Sibir Energy in Sibneft-Yugra was reduced back in 2002 when MNGK had not been set up yet.
Sibneft’s press service said they are surprised that Luzhkov has brought the accusation against Roman Abramovich who has not occupied any positions in the company for a long time and does not answer for the company’s activities. Yuri Luzhkov made a number of blunt statements pointed at Sibneft and Roman Abramovich back in 2002 in the thick of the conflict over Moscow Oil Refinery. The parties managed to reach an agreement then but it was violated this year. Sibneft now seeks to invalidate at the Moscow Court of Arbitration announcement of dividends from preferred shares of Moscow Oil Refinery for 2004. If the case is own, Sibneft’s alliance with Tatneft will hold a controlling stake in the plant. Yuri Luzhkov may bring new accusations against Roman Abramovich soon. On the other hand, Sibneft gets ready to be sold. Thereupon, public statements of Moscow Mayor may be pointed primarily at possible purchasers of Sibneft, especially Gazprom.
www.kommersant.com
All the Article in Russian as of Aug. 01, 2005
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