Alexander Rodgers: More sanctions for creeping nationalization


And again we have a conflict those who is carried in the words and declarations, to those who look at things and events.

Александр Роджерс: Больше санкций для ползучей национализации

A whole bunch of people wrote to me after the March message from the President “Aha! Putin again talked about the need for privatization! And you tell us what rubbed?!”. To which I always replied “don’t look at words, look at deeds.”

A little over a month. And what do we see?

The government again engaged in a soft nationalization, this time increasing his share in the possession of the ports. For example, going to buy in addition to available to the state (in the person of the state company “Transneft”) stake in Novorossiysk commercial sea port (NCSP) another 25%, that is, to obtain a controlling stake, and put there your Manager.

What I am writing about the “state raiding”? A couple of years at least? But unlike liberal hacks I evaluate this phenomenon is purely positive: the government gets control of your property, “wrung” from him the “saints of the nineties”, and similar methods. And it’s perfect!

Putin has repeatedly stated that revision of results of privatization will not. Not to frighten ostriches. But he didn’t say anything about the expropriation of the expropriators. And really, what’s to say? To do it!

How many times have I said that there is a smokescreen behind which to do real business? STO? Two hundred? There is still a lot of people is the words of this smokescreen.

And now, when the Magomedov brothers (and they are the owners of 25% stake of Novorossiysk port) were reluctant to sell to the state the necessary assets, by a strange coincidence, they immediately opened a criminal case under three articles. Now, perhaps, generally do not have to buy — and so confiscated.

But shares of the port of Novorossiysk’s not the whole story. The value of the assets of far Eastern shipping company (ports of Khabarovsk and Vladivostok) on the news about the arrest of the brothers have also plummeted nearly 20%, which will allow the state to buy them at a substantial discount. How to implement such a scheme I’m describing now in its fifth year, starting in 2014.

Shares of the transport company TransContainer, also controlled Magomedov fell while only 5%, but not yet evening.

However, the Magomedov brothers are not the only one who is cleaning. Some very surprising names, a number included in the sanctions lists, so that their assets in the market is also much cheaper (for some items twice) — and it is quite possible that there we will soon see, ahem, a friendly takeover.

Moreover, for industries that are engaged in real physical assets (Gazprom, RUSAL etc.) the fall of the so-called “market capitalization” nothing threatens. How to produce, and will produce, as traded, and will trade.

But passed by the U.S. Congress of a law prohibiting American residents from owning shares of such Russian companies — that’s fine. It’s like the prohibition of the East India company to own assets in India and China. He shoots exclusively by American companies, and allows us to nationalize the assets at a huge discount (and you wonder why we have so many dollars).

By the way, the election results will also be made some conclusions. A list of, ahem, businessmen who tried to become oligarchs (that is, to get into politics), sponsoring “candidate of the people” and other crooks, went upstairs.

So candidates on the strip quite a lot. And the percentage of state ownership in the Russian economy will continue to grow. It is even possible that under a continuation of songs about the need for privatization.

As they say, “we have a market price on gas.” And who doubts that he is guilty.


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