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Friday, 9 December 2016

Igor Sechin, Moscow’s oil man turned global dealmaker

Igor Sechin, Moscow’s oil man turned global dealmaker:
"In early 2015, Igor Sechin sat opposite Russian president Vladimir Putin and received a public dressing-down. “Where is the real Sechin?” Mr Putin asked his old ally in answer to the Rosneft chief’s request for government support for the state oil company, reminding him to consider the impact of his actions on the country’s economy.

On Wednesday evening, Mr Sechin again faced Mr Putin, this time triumphant, announcing to the president a deal to sell a 19.5 per cent government stake in Rosneft to Glencore and the Qatar Investment Authority for just over €10bn. The deal would at a stroke cut the Russian government’s budget deficit by a fifth and represents the largest foreign direct investment into the country since western sanctions were imposed in 2014.

It also marks a return to dealmaking form for Mr Sechin, 56, one of the most powerful figures in the Russian elite, a man at the centre of almost every financial and political event in the country."

'via Blog this'