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New York Times pays attention to Russian business scandal

14.08.2002 | Source:



Russian oligarch Oleg Deripaska wants the whole playground instead of a ball

The Western business community is really concerned about the situation with the Russian economy. Illegal property distribution, semi-criminal methods of competition became a subject for a lot of publications in Western major media outlets. The New York Times published an article in its issue of August 13, “ Handful of Corporate Raiders Transform Russia's Economy.” The article sheds light on the conflict situation in the Russian timber industry. Kotlas Pulp and Paper Mill (the Arkhangelsk region), which is incorporated into Ilim Pulp Enterprise, became the real hostage of the situation. This mentioned company has been withstanding a siege for several weeks already.

The American newspaper cited the opinion from Frank Graves, the Canadian chief operating officer of Ilim Pulp: “At first I thought it was a joke [the attempt to seize the Kotlas Paper Mill], but then I understood that we had serious problems. It is not that the bully wants to take our ball, but that the bully wants to take the whole bloody playground.” “The bully” is Oleg Deripaska, who controls the company Base Element that attempted to take over the Kotlas Paper Mill. Oleg Deripaska has several of such “playgrounds” – three-fourth of the Russian aluminium industry and a big piece of the automobile industry. It was not enough for him to have that, so he wanted to get hold of the Russian forestry. Ilim Pulp showed a strong resistance against that. Spokesmen for the company say that they are acting and will be acting only within the legal framework.

Gun fire is not likely to be heard in the Arkhangelsk region. There is no bloodshed, but the methods, which are used in that competition are far from being civilized.

Translated by Dmitry Sudakov


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