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FINROSFORUM

FINROSFORUM  //  The Finnish-Russian Civic Forum strives to promote cooperation between the peoples of Finland and Russia by supporting civic initiatives for democracy, human rights, and freedom of speech.

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Nov 17 / 1:54am

ESPO: Four Billion Dollar Theft

by Kerkko Paananen

Media_httpgdbrferlorg_ejgfx

Official documents submitted by Russia's state-owned pipeline monopoly, Transneft, to the Audit Chamber in 2008 reveal large-scale fraud committed by Transneft management, its subsidiaries and contractors in connection with the construction of the Eastern Siberia Pacific Ocean (ESPO) pipeline. Anti-corruption campaigner Alexey Navalny, who is a minority shareholder of Transneft, said all facts of theft and fraud were confirmed by Transneft management.

According to Mr Navalny's rough estimate, the illegalities in connection with the ESPO project resulted in total losses of around USD 4 billion to Transneft. Mr Navalny said he intended to pursue criminal prosecution through all legal means both within and outside Russia, in countries where those responsible for the crimes may reside. Mr Navalny has called on Russia's law enforcement agencies to investigate the crimes and vows to draw public attention to the case.

http://navalny.livejournal.com/526563.html

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Filed under  //  Corruption   ESPO   Navalny   Oil   Russia   Transneft  
 
Jan 25 / 12:10am

Russia's campaigner against corruption

by Kerkko Paananen
Media_httpwwwrospresc_qyhfg

Alexey Navalny already had a reputation as a rabble-rouser when he showed up at the annual general meeting for Rosneft, a Russian oil firm, in Moscow in June 2009. With a small stake in the company, Mr Navalny wanted to question Rosneft chairman Igor Sechin, a confidant of Prime Minister Vladimir Putin, about management strategy and the lack of dividends for stockholders.

"I looked around and noticed a bunch of beefy-looking fellows sitting around me," Mr Navalny said in an interview in his sparsely furnished offices in Moscow. "I am well known in Rosneft, and they're not always happy to see me." Mr Navalny said he approached Mr Sechin afterwards and asked why he had been surrounded by guards. “He chuckled and said it was for my own safety,” Mr Navalny said.

It is, perhaps, no surprise that questions of personal safety arise wherever Mr Navalny goes. Cocksure and irrepressible, he has become Russia's most vocal and obnoxious minority shareholder, hounding the country’s largest companies with muckraking campaigns against corporate malfeasance and incompetence. Mr Navalny has a small stake in almost every major state-owned company in Russia.

http://www.thenational.ae/apps/pbcs.dll/article?AID=/20100125/FOREIGN/701249805/1135

Filed under  //  Business   Corruption   Energy   Gunvor   Navalny   Oil   Putin   Rosneft   Russia   Timchenko