Economists explain position of "Rosneft" on assets in Chechnya by shareholders' interests

The "Rosneft" cannot transfer its assets to Chechnya for free, since, apart from the state, other shareholders also hold shares of the corporation. This was explained by economists. Auditors, who estimated assets of the amount of 12.5 billion roubles, did not come to Chechnya and did not evaluate the conditions for oil production there, report officials from the regional subsurface management department.

The "Caucasian Knot" has reported that on April 12, the "Financial Times" reported about the deterioration of the conflict over oil assets in Chechnya between Chechen leader Ramzan Kadyrov and Igor Sechin, the director of the "Rosneft". As a result, a version arose about the "Chechen sign" in the terror act committed in Saint Petersburg on April 3.

"From the legal and ethical point of view, it would be right to transfer for free the asset of the state-owned company to the use of the republic. What is the difference whether the state-owned assets are controlled from Moscow or from Grozny?" said Shamil Beno, a business consultant.

However, he has also noted that the "Rosneft" has other shareholders, apart from the state.

According to Shamil Beno, the amount of 12.5 billion roubles, in which the Chechen assets of the "Rosneft" are valued, is overestimated.

"There is no positive impact on the economy of Chechnya from the presence of the 'Rosneft' in the republic, especially since its major directors reside in Moscow," noted Shamil Beno.

The dispute between Ramzan Kadyrov and Igor Sechin is one of a number of conflict situations between the Chechen leader and the directors of state-owned monopolies and federal agencies. And such conflicts come to light not always, notes political analyst Vadim Mukhanov, Senior Researcher of the Moscow State Institute of International Relations (known as MGIMO).

Full text of the article is available on the Russian page of 24/7 Internet agency ‘Caucasian Knot’.