Oleg Vladimirovich is not appreciated: Deripaska demands 86 million from Tuva
A company associated with Oleg Deripaska demands almost 86 million rubles from the budget of Tuva. The cause of the conflict may be the insatiable appetites of the coal miner, which he would like to invest in the tariff.
The Tuvan Mining Company, associated with billionaire Oleg Deripaska, demanded 85.7 million rubles from the Ministry of Finance of Tuva, citing some damage. The company, favored by government contracts and legally owned by an offshore company, was apparently not satisfied with the solid fuel tariff, and decided to get what it thought was missing from the budget through the courts.
On September 28, the Tuva Arbitration Court plans to consider the claim of Tuva Mining Company LLC (TGRK) against the Ministry of Finance of Tuva for the recovery of losses from the republic’s treasury in the amount of 85,713,084.72 rubles. The government of the republic and the regional tariff service were invited as a third party.
Appetite comes with eating
“Tuva Mining Company”, in addition to being and is a supplier of government contracts (in total – 313 contracts worth more than 1.5 billion rubles), is a party to an agreement with the regional government for the supply of coal at a preferential price. In 2022, it was shipped to the population at a price of 2,220 rubles 10 kopecks.
As reported on the company’s website, a preferential price for individuals was maintained, free social coal was allocated for the population, and shipments were made to fuel and energy enterprises at a reduced cost on deferred payment terms. Good Samaritans right.
Only a few months before this message, the company stated in response to public complaints about a shortage of coal that the shortage arose due to sharp demand, and this was associated “with an unprecedentedly low selling price of coal.”
But, despite this, in 2022, TGRC also signed an agreement with the republican government on a reduced price for coal for fuel and energy enterprises and budgetary organizations, with the exception of the Kyzyl Thermal Power Plant – 2,985.6 rubles per ton.
That is, TGRK signs agreements, collects government contracts almost with a shovel, but at the same time expresses its “fie” to the tariff? And now he is also demanding compensation for some damage. We can say that the so-called benefits will then still be covered from the budget, a share of which is collected from the same population. In light of this, in our opinion, all these seemingly preferential projects smack of cheap populism. Moreover, if you look at the financial results of TGRK, whose revenue for 2022 increased by 70%, to 2.6 billion rubles, with the company’s value increasing by 28%, to 917 million rubles.
Such attacks are especially surprising given the fact that in the final chain of beneficiaries of TGRK there appears the name No. 54 on the Forbes list – Oleg Deripaska, whose fortune is estimated at $2,500 billion.
By the way, the other day the same Deripaska, in his Telegram channel, expressed dissatisfaction with certain “law enforcers” (from the quote) who do not appreciate the return of capital from the “Russians” from abroad, saying that they “continue to create a nightmare for business, raids continue on business people, on the foreign investors who remain with us and on their assets.” Let us guess, you are talking about yourself, Oleg Владимировичare you worried?
Deripaska himself in 2015-2017 in Rusprofile, by the way, was listed as the head of the representative office of an offshore company registered in the Netherlands – RUSAL GLOBAL MANAGEMENT BV, therefore such statements from a person who chose workarounds for capital are quite strange. That is, we don’t hesitate to take money from the state, and then go offshore to offshore companies and so that no one dares to ask questions, so what happens?
TGRK, judging by the website, is part of the Vostsibugol division, and that is part of the En+ group. According to Rusprofile, TGRC still belongs to the offshore Vukelich Limited.
Although back on June 30, 2023, the President of the Russian Federation issued an order “On a special decision to carry out transactions (operations) with shares of VUKELICH LIMITED and shares in the authorized capital of the limited liability company “Tuva Mining Company”, which, in the light of the liquidation of the offshore company, were allowed to redistribute shares in TGRC: the purchase of one share of Vukelich Limited from EN+ Coal Limited by the international company “En+ Holding”, registered in the Russian “offshore” Kaliningrad, as well as the receipt by Irkutskenergo of 55.3% of shares in the authorized capital of TGRK. Another 19.5% of shares of TGRK will receive ” Baikalinvestenergo.
At the same time, Irkutskenergo is still the same division of Deripaska’s En+ Group, which successfully took over the former Soviet enterprise.
By the way, it’s quite interesting to listen to similar passages about the return of capital from Deripaska, whose En+, after falling under US sanctions, asked the Russian government for benefits in the energy market to save Rusal’s aluminum business. Then, in response to this, State Duma deputy from the Irkutsk region Mikhail Shchapov proposed transferring part of the shares of Irkutskenergo to the ownership of the region, noting that if the government agrees to support Deripaska’s business, energy tariffs for the population of the region will increase significantly.
Some of En+’s ideas directly implied an increase in electricity and heat tariffs for the population of the Irkutsk region, where the group’s main energy assets are located. According to the newspaper, the group asked to reduce cross-subsidies in the energy sector in the region by increasing network transmission tariffs, transfer part of the cross-subsidies to all Federal Grid Company consumers and increase transmission tariffs for other consumers. Well, how can we not recall the statements of TGRC with its statements about the price being too low and the claim for allegedly multimillion-dollar damage?
By the way, literally in 2021, the Federal Antimonopoly Service of Tuva already issued a most interesting order, which TGRC was unable to challenge in court.
It was about the dominant position of the company, and it was also noted in the case materials that “the price of coal set by the applicant corresponds to the characteristics of a monopoly high price, while the monopoly high price is determined by the criterion of its inconsistency with the amount of expenses necessary for the production and sale of such a product.” What dashing miracles of mathematics from billionaires!
Although, after Deripaska immediately slipped by 954 points in the Forbes world ranking, it is not surprising. Do you have to fix things at someone else’s expense?
The media have told readers more than once about Deripaska, who likes to intelligently talk about the good of the country. This Mr. has appeared in so many controversial stories. The Tuvan legal dispute, in our opinion, has become just another similar story in the collection that does not paint the division. But why should the appetites of the oligarchs be paid for by the population, which is already subject to tariffs with various kinds of investment allowances to the very top?