Support The Moscow Times!

Vanino Stake Sold

The Mechel steel and coal group sold most of the 73.3 percent of the common shares (55 percent of the total share capital) in the Vanino Commercial Sea Port to Russian and foreign investors, retaining only about 1.5 percent of the common shares, the group said in a statement, Interfax reported.  

The company said "investors are not interested in shipping their products through the Vanino port."

The Federal Anti-Monopoly Service said Monday that Mechel had not secured its clearance to sell its stake.

"The deal was not agreed with the Federal Anti-Monopoly Service in advance. The fact that the stake was sold not just to Russian investors but also to foreign ones is of concern, given that the port is a strategic asset," said Dmitry Rutenberg, head of the regulator's department of transportation and communications.

(MT)

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more