View Full Version : Gravy sucking pigs.

21-01-2015, 22:00
IN MARCH 2013 a group of bankers and lawyers gathered in the Frankfurt offices of Deutsche Bank to monitor the transfer of nearly $28 billion in U.S. currency from an account controlled by Russia’s state-owned oil giant, Rosneft, to one controlled by four billionaire Russian tycoons: Mikhail Fridman, Viktor Vekselberg, Len Blavatnik and German Khan.

Sechin and Putin’s mega-energy merger may have seemed like a “good” strategic deal for Russia, but for Fridman, Vekselberg, Blavatnik and Khan, whose combined net worth now hovers around $55 billion, cashing out of Russia’s most oil-dependent company in the spring of 2013, with West Texas Crude selling at $92 per barrel and Western banks pumping loans into Russia, may go down as the most brilliantly timed profit-taking of the decade. It also may have set off a chain of events in global financial markets that has contributed to the collapse of Russia’s currency, which plummeted 40% against the dollar in 2014. Putin’s state has been thrown into recession.

Sechin and Rosneft were effectively cut off from Western banks, and there was no easy way for Sechin to roll over $7 billion of foreign currency-denominated deal loans that were coming due in December. So Sechin got backing from Russia’s central bank and orchestrated a bond sale to raise rubles...

Yes, I know Wally, US of A is worse.27604