Rosneft Board has appointed Deputy Chairman of President’s Administration Igor Sechin its Chairman.

Rosneft Board has appointed Deputy Chairman of President’s Administration Igor Sechin its Chairman.
Some media call Igor Sechin the “power broker” of Putin’s administration, and the author of the secret plan of Russian authorities to take over YUKOS, the Daily Telegraph wrote.  

The “fall” of YUKOS and its head began in February, 2003 after the strained dialog between President Putin and Mikhail Khodorkovsky in the Kremlin, at the Presidents meeting with oligarchs.  Le Monde wrote that Khodorkovsky said about the corruption in the state-owned Rosneft company patronized by Vladimir Putin. The President quickly responded, “YUKOS has surpluses of oil deposits, and how did it got them?”

It is worth mentioning that Russian Office of Public Prosecutor initiated legal proceedings against YUKOS after receiving the letter of Rosneft President Sergey Bogdanchikov. He wrote that 19% of Eniseineftegaz (ENG) company disappeared from Anglo-Siberian Oil Company (ASOC) controlled by Rosneft. These shares were allegedly transferred to offshore company Maastrade Limited, and YUKOS wrote the wrong date of the deal. YUKOS claimed that the deal with the ENG shares was absolutely legal.

The Financial Times wrote that Rosneft is the main candidate for purchasing Yuganskneftegaz – the main oil-drilling structure of YUKOS. It can be sold out soon to pay YUKOS tax debts. According to the Financial Times, Rosneft itself is short of cash and has many debts. State-owned Sberbank can give a loan, but it would be too much for Russian government to give loans to itself to purchase confiscated assets, wrote the newspaper.

The Die Welt also believes that Rosneft is likely to purchase the valuable YUKOS’ property. Despite bad management, Rosneft can become basis for powerful Russian state-owned oil corporation.

Previously the Daily Telegraph wrote on Igor Sechin’s plan to take over YUKOS’ oil by getting control over the oil in Transneft monopoly pipelines. This plan can be implemented as well.