Tag Archives: Novatek

Putin Bails Out

Hero journalist Yulia Latynina, writing in the Moscow Times:

Some of Russia’s largest and fattest rats are starting to flee the country’s sinking ship. Take, for example, Rosneft, which signed an agreement in January to exchange shares with BP, or Novatek, which sold 12 percent of its shares to the French company Total in February.

Given the individuals involved in these transactions and the fact that Prime Minister Vladimir Putin was directly involved in both, the agreements look like an attempt by Russia’s ruling elite to create a financial cushion in the event that the Libyan or Egyptian scenario plays out in Russia.

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