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The proposed sale by Roman Abramovich, the Russian oligarch, of his estim-ated $10bn (£5.5bn) stake in the Sibneft oil company to Gazprom, the state-controlled gas group, looks like a neat way of settling accounts with his country. He sails off into the sunset, free to buy yachts and football clubs, while the Kremlin virtually completes the renationalisation of Russia's core energy assets. Smiles all around, not least among the bankers involved. The truth is far less pleasant, for Russia and for Mr Abramovich. This deal, if it goes ahead, will be the latest development in the untransparent privatisation of Russia's...

US authorities are to examine Roman Abramovich’s ties to the Kremlin as part of a national security review of a $2.3bn (£1.18bn) bid for Oregon Steel by a company controlled by the Russian billionaire. Experts in Washington say the US government panel that reviews foreign deals will scrutinise the proposed takeover, announced last month, more closely if Mr Abramovich is found to be acting with the backing of the Russian government. Mr Abramovich is believed to be close to Vladimir Putin, Russian president. The Russian steel company, Evraz, is controlled by Mr Abramovich and Alexander Abramov, group director. Evraz and...

MOSCOW Sep 28, 2005 — Gazprom, the world's largest natural-gas producer, has agreed to buy a majority stake in the Sibneft oil company for $13.01 billion in a deal that will significantly further the state-controlled company's stature in the oil sector as Russian President Vladimir Putin moves to recapture government influence in the lucrative energy industry. Gazprom, which came under state control in June when the government increased its stake to above 50 percent, has long been groomed as a state energy company to rival Saudi Arabia's Aramco. The companies said an agreement was signed Wednesday between Gazprom and Sibneft's...

MOSCOW - The Basic Element company has acquired a 37.5 percent stake in RusPromAvto from the company Millhouse Capital, owned by Roman Abramovich, Russia’s second richest man, a source in RusPromAvto told RBC. The value of the deal has not been revealed. Basic Element’s press service refused to comment. RusPromAvto is one of Russia’s largest automobile groups. It comprises about 20 companies producing cars, trucks, buses and road construction equipment. When the holding company was set up, Basic Element and Millhouse each received 37.5 percent in it, and 25 percent was given to the management of RusPromAvto. Thus, Basic Element,...