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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. The scheme was primarily overseen by Anatoly Chubais who was linked to USAID program managed by head of the Harvard Institute for International Development (H.I.I.D). at the time. The scheme implementation ultimately resulted in the emergence of an influential class of enterprise owners, known as Russian oligarchs. Enterprises lease To make companies wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boris Yeltsin
Boris Nikolayevich Yeltsin ( rus, Борис Николаевич Ельцин, p=bɐˈrʲis nʲɪkɐˈla(j)ɪvʲɪtɕ ˈjelʲtsɨn, a=Ru-Boris Nikolayevich Yeltsin.ogg; 1 February 1931 – 23 April 2007) was a Soviet and Russian politician who served as the first president of the Russian Federation from 1991 to 1999. He was a member of the Communist Party of the Soviet Union from 1961 to 1990. He later stood as a Political Independent, political independent, during which time he was viewed as being ideologically aligned with liberalism and Russian nationalism. Yeltsin was born in Butka, Russia, Butka, Ural Oblast. He grew up in Kazan and Berezniki. After studying at the Ural State Technical University, he worked in construction. 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 lat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yukos
OJSC "Yukos Oil Company" (russian: ОАО Нефтяна́я Компа́ния Ю́КОС, links=no, ) 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 biggest 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 aw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boris Yeltsin 1996 Presidential Campaign
The Boris Yeltsin presidential campaign, 1996 was the reelection campaign of Russian President Boris Yeltsin in the 1996 election. Yeltsin was ultimately reelected, despite having originally been greatly expected to lose the election due to an immensely low level of public support prior to the official launch of his campaign. He was able to accomplish this due to a number of strategies and factors, including campaigning vigorously ahead of the first round, painting Communist Party nominee Gennady Zyuganov (his chief opponent) negatively, actively working to convince the Russian electorate that their existed a duopoly which left them no other choice but Yeltsin or Zyuganov (and convincing them that Yeltsin was the lesser of two evils), repositioning himself to better appeal to the electorate, benefitting from an immense media bias in his favor, utilizing the advantages of his office, and benefitting campaign spending which far exceeded the limits set by election laws. Backgroun ... [...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, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billion (a ... [...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 is " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harvard
Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of higher learning in the United States and one of the most prestigious and highly ranked universities in the world. The university is composed of ten academic faculties plus Harvard Radcliffe Institute. The Faculty of Arts and Sciences offers study in a wide range of undergraduate and graduate academic disciplines, and other faculties offer only graduate degrees, including professional degrees. Harvard has three main campuses: the Cambridge campus centered on Harvard Yard; an adjoining campus immediately across Charles River in the Allston neighborhood of Boston; and the medical campus in Boston's Longwood Medical Area. Harvard's endowment is valued at $50.9 billion, making it the wealthiest academic institution in the world. Endowment inco ... [...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 D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mechel
Mechel (russian: ПАО «Мечел») 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 Southern Kuzbass Coal Company acquired control over Chelyabinsk Steel Plant in the summer of 2002 and subsequently announced a merger of Southern 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, Mechel acquired a controlling stak ... [...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 organ ... [...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. History Surgutneftegas was created in 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sibneft
Gazprom Neft (russian: Газпром Нефть; formerly Sibneft, russian: Сибнефть, link=no), is the third largest oil producer in Russia and ranked third according to 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 (russian: Сибнефть) 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 pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lukoil
The PJSC Lukoil Oil Company ( stylized as LUKOIL or ЛУКОЙЛ in Cyrillic script) is a Russian multinational energy corporation headquartered in Moscow, specializing in the business of extraction, production, transport, and sale of petroleum, natural gas, petroleum products, and electricity. It was formed in 1991 when three state-run, western Siberian companies named after the respective town in Khanty–Mansi Autonomous Okrug that each was based in, Langepasneftegaz, Urayneftegaz, and Kogalymneftegaz, merged. Its name is the combination of the acronym LUK (initials of the oil-producing cities of Langepas, Uray, Kogalym) and the English word "oil". Lukoil is the second largest company in Russia after Gazprom, and the country's largest non-state enterprise in terms of revenue, with ₽4,744 billion in 2018. In the 2020 Forbes Global 2000, Lukoil was ranked as the 99th-largest public company in the world. Internationally, it is one of the largest global producers of crud ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
