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Loans For Shares Scheme
Beginning in 1995, Boris Yeltsin's government began privatizing state-owned shares in companies through a loans for shares scheme. The scheme helped with "fundraising" for Yeltsin's 1996 reelection campaign and restructuring freshly-sold companies at the same time (in order to outweigh communist sympathizers as one source speculated). Russian bankers constituted the majority of those who have provided the funds (see ). The rest included such entities as Stolichny bank () and World Bank (who made a loan for a small percentage of the Sibneft oil company) and even some targeted investments from USAID in assistance to Chubais, according to Richard Morningstar, a U.S. aid coordinator for the former Soviet Union. The scheme was primarily overseen by Anatoly Chubais who was linked to USAID program managed by head of the Harvard Institute for International Development (HIID) at the time. The scheme implementation ultimately resulted in the emergence of an influential class of ente ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boris Yeltsin
Boris Nikolayevich Yeltsin (1 February 1931 – 23 April 2007) was a Soviet and Russian politician and statesman who served as President of Russia from 1991 to 1999. He was a member of the Communist Party of the Soviet Union (CPSU) from 1961 to 1990. He later stood as a Independent politician, political independent, during which time he was viewed as being ideologically aligned with Liberalism in Russia, liberalism. Yeltsin was born in Butka, Russia, Butka, Ural Oblast (1923–1934), Ural Oblast. He would grow up in Kazan and Berezniki. He worked in construction after studying at the Ural State Technical University. After joining the Communist Party, he rose through its ranks, and in 1976, he became First Secretary of the party's Sverdlovsk Oblast committee. Yeltsin was initially a supporter of the ''perestroika'' reforms of Soviet leader Mikhail Gorbachev. He later criticized the reforms as being too moderate and called for a transition to a Multi-party system, multi-party repr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yukos
OJSC "Yukos Oil Company" (, ) was an oil and gas company based in Moscow, Russia. Yukos was acquired from the Russian government by Russian oligarch Mikhail Khodorkovsky's Bank Menatep during the controversial "loans for shares" auctions of the mid 1990s. Between 1996 and 2003, Yukos became one of the largest and most successful Russian companies, producing 20% of Russia's oil output. In the 2004 ''Fortune 500'', Yukos was ranked as the 359th largest company in the world. In October 2003, Khodorkovsky—by then the richest person in Russia and 16th richest person in the world—was arrested, and the company was forcibly broken up for alleged unpaid taxes shortly after and declared bankrupt in August 2006. Courts in several countries later ruled that the real intent was to destroy Yukos and obtain its assets for the government, and act politically against Khodorkovsky. In 2014, the largest arbitration award in history, $50 billion (€37.2 billion), was won by Yukos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ONEXIM Bank
ONEXIM Bank () (United Export-Import Bank) was a Russian joint-stock commercial bank. It was founded in 1993 in Moscow. In 2000, it was merged into Rosbank. The shareholders of "Rosbank" and "ONEXIM Bank" approved the reorganization of AKB "Rosbank" by merging "ONEXIM Bank" into it at a general meeting on September 14, 2000. The chairman of the board of "ONEXIM Bank," Mikhail Prokhorov, was included in the board of directors of the reorganized "Rosbank," as approved by the shareholders. "ONEXIM Bank" completed the restructuring of its debt to creditors on July 3, 2000, paying them 105 million dollars. Mikhail Prokhorov, when creating the investment fund "ONEXIM Group" in May 2007, emphasized that he named his fund after the bank of the same name, from which he and his partner Vladimir Potanin started their business in the early 1990s. According to him, the name "ONEXIM Group" has a hidden meaning: "despite attempts to declare 'ONEXIM' bankrupt, it fulfilled all its obligations to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate economic stability, stability. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and poverty reduction, reduce poverty around the world." Established in July 1944 at the Bretton Woods Conference, primarily according to the ideas of Harry Dexter White and John Maynard Keynes, it started with 29 member countries and the goal of reconstructing the international monetary systems, international monetary system after World War II. In its early years, the IMF primarily focused on facilitating fixed exchange rates across the developed worl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Center For Global Development
The Center for Global Development (CGD) is a nonprofit think tank based in Washington, D.C., and London that focuses on international development. History It was founded in November 2001 by former senior U.S. official Edward W. Scott, director of the Peterson Institute for International Economics, C. Fred Bergsten, and Nancy Birdsall. Birdsall, the former vice president of the Inter-American Development Bank and former director of the Policy Research Department at the World Bank, became the center's first president. Lawrence Summers was unanimously elected in March 2014 by the CGD Board of Directors to succeed founding Board Chair Edward Scott Jr., on May 1, 2014. CGD was ranked the 13th most prominent think tank in the international development sphere by University of Pennsylvania's "2015 Global Go To Think Tank Index Report". In 2009, ''Foreign Policy'' magazine's Think-Tank Index listed CGD as one of the top 15 overall think-tanks in the US. CGD's stated mission i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harvard
Harvard University is a private Ivy League research university in Cambridge, Massachusetts, United States. Founded in 1636 and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of higher learning in the United States. Its influence, wealth, and rankings have made it one of the most prestigious universities in the world. Harvard was founded and authorized by the Massachusetts General Court, the governing legislature of colonial-era Massachusetts Bay Colony. While never formally affiliated with any denomination, Harvard trained Congregational clergy until its curriculum and student body were gradually secularized in the 18th century. By the 19th century, Harvard emerged as the most prominent academic and cultural institution among the Boston elite. Following the American Civil War, under Harvard president Charles William Eliot's long tenure from 1869 to 1909, Harvard developed multiple professional schools, which transfo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marshall Goldman
Marshall Irwin Goldman (July 26, 1930 – August 2, 2017) was an American economist and writer. He was an expert on the economy of the former Soviet Union. Goldman was a professor of economics at Wellesley College and associate director of the Harvard Russian Research Center. Goldman received his Ph.D. in Russian studies from Harvard University in 1961. Goldman was well known for his study of the career of Mikhail Gorbachev. His books on the former Soviet Union include ''The USSR in Crisis: The Failure of an Economic System'', ''Lost Opportunity: What Has Made Economic Reform in Russia So Difficult'', and '' Petrostate''. Education Goldman was a 1952 graduate of the Wharton School of the University of Pennsylvania and received M.A. and Ph.D. degrees in Russian studies and economics from Harvard University in 1956 and 1961, respectively. He was awarded an honorary Doctor of Laws degree from the University of Massachusetts, Amherst, in 1985. Career Goldman was Kathryn Wasserman Dav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mechel
Mechel () is one of Russia's mining and metals companies, comprising producers of coal, iron ore in concentrate, steel, rolled steel products. Headquartered in Moscow, it sells its products in Russia and overseas, and is formally known as ''Public Joint Stock Company Mechel''. History Under the leadership of Vladimir Iorikh (), Southern Kuzbass Coal Company acquired control over Chelyabinsk Steel Plant in the summer of 2002 and subsequently announced a merger of Southern Kuzbass Region, Kuzbass and Mechel into Mechel Steel Group. Igor Zyuzin was elected as Chairman of the Board of Mechel Steel Group OAO in January 2004. Mergers and acquisitions Mechel acquired Posyet Sea Commercial Port on the Russian coast of the Sea of Japan in 2004. Mechel submitted a winning bid for a 26.9% stake in Izhstal in May 2004, subsequently increasing its stake to control. Mechel won an auction in January 2005 to buy a blocking stake (25% plus one share of stock) in Yakutugol. Also in 2005, Meche ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Novolipetsk Steel
Novolipetsk Steel, or NLMK, is one of the four largest steel companies in Russia. NLMK's share of domestic crude steel production is about 21%. It primarily produces flat steel products, semi-finished steel products and electrical steels. NLMK also produces specialty coated steels, plus high-ductility and micro-alloyed steels. It is the 21st-largest steel maker in the world. The larger NLMK group owns a number of other steel and mining industries, mostly in Russia. History Historically, the Lipetsk area in central Russia has had substantial iron ore deposits. In 1702, Peter the Great ordered the construction of an iron foundry there. In 1931, Novolipetsk Iron and Steel began construction of a plant on the site of the iron ore mine. Prospering down through the decades, Novolipetsk became a joint-stock company in 1992 and then in 1993 began the process of privatization by distributing company shares to its employees. The company seems to be acquisitive; see list of related orga ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Surgutneftegas
Surgutneftegas ( rus, ПАО «Сургутнефтегаз», p=sʊrɡʊtnʲɪftʲɪˈɡas) is a Russian oil and gas company created by merging several previously state-owned companies owning large oil and gas reserves in Western Siberia. The company's headquarters are located in Surgut, Khanty-Mansi Autonomous Okrug. In the 2020 Forbes Global 2000, Surgutneftgas was ranked as the 251st-largest public company in the world. Surgutneftegas includes a large oil refinery in Kirishi, Leningrad Oblast, operated by the Kirishinefteorgsintez subsidiary. The company is also engaged in fuel retail activities in north-west Russia by cooperating with the Petersburg Fuel Company. Surgutneftegas is also a shareholder of Oneximbank (Объединённый экспортно-импортный банк). From the beginning Surgutneftegas has been led by president and director general Vladimir Bogdanov, who had run the Surgut oil fields since 1983. According to Stanislav Belkovsky, Vlad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sibneft
Gazprom Neft (; formerly Sibneft, ) is the third largest Petroleum industry, oil producer in Russia and ranked third according to Oil refinery, refining throughput. It is a subsidiary of Gazprom, which owns about 96% of its shares. The company is registered and headquartered in St. Petersburg after central offices were relocated from Moscow in 2011. By the end of 2012 Gazprom Neft accounted for 10% of oil and gas production and 14.6% of refining activities in Russia. Production volumes in 2012 increased by 4.3% in comparison with 2011, refining throughput grew by 7%, revenue was up 19.5% with EBITDA and net profit advancing by 7.7% and 9.9% accordingly. History Gazprom Neft was created under the name Sibneft () in 1995 by the transfer of state owned shares in Noyabrskneftegas (production unit), the Omsk Refinery (Russia's largest oil refining complex), Noyabrskneftegasgeophysica (exploration) and Omsknefteprodukt (oil products distribution network) from Rosneft. In 1996 and 1997 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
