UK will be providing “limited” support to ensure safety of athletes and guests during the Sochi 2014 winter games, Cameron said at the media-conference after the negotiations in the Olympic capital concluded late on Friday. ”We both want the Sochi Games to be a safe and secure Games,” he added. No details of how this cooperation will look like have yet been revealed, but Britain surely has a lot of experience to share in the sphere. The London Olympics, it hosted in 2012, went on without any serious incidents, thanks to over 20,000 police and military personnel providing security during the event. The Russian and British intelligence services have aborted cooperation 6 years ago, following Moscow’s refusal to extradite Andrey Lugovoy, whom the UK suspects of involvement in the poisoning death of former FSB officer, Aleksandr Litvinenko, which occurred in London the same year. “Security service cooperation was suspended,” Dmitry Peskov, Putin’s spokesman, stressed as RBK Daily quoted him on Saturday. “It was frozen on the initiative of the British side, but nevertheless we are satisfied with their readiness to cooperate in the interests of ensuring the safe and peaceful organization of the Olympic Games in Sochi.” After the talks, Putin and Cameron went on a helicopter tour of the venues being prepared for the Sochi Games’ kickoff on February 7, 2014. The aerial excursion included landing at the Fisht Olympic Stadium, which was designed by the British architects firm, Populous, and constructed with the assistance companies from the UK.The 40,000-strong venue won’t see any sporting action during the Games as it’ll be used to host the opening and closing ceremonies. According to Cameron, more than 50 British companies are currently participating in the Sochi Olympics construction projects. … Read More
Russian billionaire senator moves assets to Swiss charitable fund
“Kerimov made the decision the other day to transfer beneficiary rights to his business assets to his charitable fund, the Suleiman Kerimov Foundation,” Aleksey Krasovsky, Kerimov’s spokesperson is quoted by the Ria Novosti news agency as saying.The decision came after Kerimov was elected Senator to the upper chamber of Russia’s parliament – the Federation Council – from the North Caucasus Republic of Dagestan. According to Vedomosti business daily, Nafta Moskva, Kerimov’s investment group refused to comment on the news. Spokesperson for Kerimov’s charitable fund registered in Switzerland has confirmed that the asset transfer papers have been signed. According to current Swiss legislation Kerimov can’t withdraw his assets.Despite being registered in Switzerland, the fund mainly focuses on large-scale educational, medical, culture and social projects, Krasovsky told Ria Novosti news agency.Kerimov’s spokesperson did not specify which assets have been transferred to the Swiss-based fund. Forbes magazine estimated Kerimov’s fortune at $7.1 billion. He is listed as Russia’s 20th richest man. His major assests include a 40.22 percent stake in Poltus Gold (worth a reported $3.8 billion) and 17.16 percent stake in Uralkali(worth $3.63 billion). State officials in Russian will soon be banned from holding either foreign bank accounts or stocks or bonds abroad as a part of the Kremlin’s anti-corruption campaign. The bill passed in the lower house of Russia’s parliament, the State Duma on April 24, and was approved by the upper chamber on April 27, 2013.The bill will come to power after it is signed by the President. State officials will have three months after the signing to get rid of their foreign accounts and move their assets to Russia. Those not willing to give up assets abroad will have to quit their posts in the government. State and government officials are however allowed to own property abroad, if they declare it and explain the sources of the income used to buy it.Some officials have begun preparing for the new legislation for a while. First Deputy PM Igor Shuvalov, the top-earning official in the Russian government, has opened a‘blind’ trust registered in the British Virgin Islands and begun transferring his offshore assets back to Russia.The Shuvalov family offshore trust and income were exposed during last year’s campaign, after which President Putin introduced the foreign assets ban bill, aimed at strengthening state control over officials’ earnings. … Read More
MI6 ‘ghost money’ sent to Hamid Karzai amid massive Afghan corruption
UK Intelligence said the “bundles” of cash were channeled into special projects aimed at rebuilding the troubled nation, reported UK newspaper the Telegraph. However, Karzai previously stated the handouts from the CIA are an “easy source of petty cash.” Karzai addressed claims of corruption over the weekend, categorically denying the handouts went to militant leaders and maintaining “the major part of this money was spent on government employees such as our guards.” Money from the UK government was just a small portion of the multi-million dollar payouts sent by the CIA since 2001. UK MPs have voiced their concern over the lack of regulation of funds that are channeled into the war-torn nation.”Every effort towards a political fix in Afghanistan must be made and those efforts welcomed but whether or not the money is well spent is a matter that must also be considered,” Conservative MP and member of the Defense Select Committee told the Daily Telegraph. He added there “is plenty of evidence that Karzai and his clique do not have an interest in a peace settlement but instead have an interest in continuing the conflict.” Furthermore, Karzai said some of the funds had gone towards bribing the country’s political elite, something that he described as “nothing unusual.” The reports have given rise to accusations that funds have lined the pockets of Afghanistan’s warlords, given that many are believed to number among the country’s upper political classes.”It has been paid to individuals, not movements…we give receipts for all these expenditures to the US government,” Karzai said to press on Saturday. He has urged the CIA to continue the monetary aid that “has helped us a lot, it has solved lots of our problems.” Both the CIA and US State Department have refrained from commenting on the reports. The Afghan government has hitherto not specified the exact quantity of cash it receives from the CIA and MI6 every month because they are not permitted to disclose the figure. However, officials speaking to the New York Times said that the donations from the CIA amounted to tens of millions of dollars since they began following alliance force intervention in the country a decade ago. Karzai received a barrage of criticism after reports of the foreign donations emerged, many fellow politicians regarding it as a betrayal to Afghanistan.“Accepting such money is a big insult to Afghanistan. All those who accepted the cash payments have betrayed the nation,” said Hidayatullah Rihaee, an MP from Bamyan province. Alliance forces are scheduled to pull out of Afghanistan in 2014, handing over security responsibilities to the Afghan authorities. The withdrawal has sparked a wave of criticism alleging Afghanistan will be overwhelmed by the Taliban. A report published by a UK Ministry of Defense think tank said that Afghanistan will be left with a weakened economy and will be highly dependent on international aid. The report, prepared by the Ministry of Defense in November of last year and obtained by the Independent, called the war “unwinnable in military terms.” Karzai has previously slammed alliance force tactics in Afghanistan, accusing them of violence and corruption. Back in March US Special Forces were ejected from Wardak province following allegations of torture and abuse of civilians. They will be replaced by Afghan security forces in spite of worries that the absence of US forces will embolden Taliban insurgents. … Read More
Gazprom eyes Japanese expansion
Japan is largely dependent on gas exports, as the country consumes above 100 billion cubic metres of gas a year while producing domestically no more than 4 billion.Since the Fukushima disaster in 2011 Japan is seeing a greater need for gasAfter the incident, “of 50 nuclear power units, only two are working – that’s a large drop in power generation, we understand that perfectly,” said Russia’s President Vladimir Putin at a press conference following talks with Japanese Prime Minister Shinzo Abe.Given Russia’s abundant hydrocarbon reserves, the country is quite “capable of providing for the growing consumption of hydrocarbons in Japan without harm to our traditional partners and without harm to our own consumers,” Putin added.Russia supplies about 6.5 million tonnes of gas to Japan each year, which is about 8% of the total need of the Japanese.Russia must need closer energy cooperation with Japan to back its Eastern Gas Program, which exports to Asian – Pacific countries, says Michael Korchyomkin, a director at East European Gas Analysis.Among the joint gas projects between Russia and Japan are Vladivostok LNG and Sakhalin–2, an oil and gas joint venture between Gazprom, Shell and Japanese companies Mitsui and Mitsubishi.Gazprom’s chances to successfully compete in regasification in Japan look slim, as currently the country processes about 250 bn of cubic metres of liquifed gas. So, new LNG terminals are unlikely to have huge effect on the country’s economy, analysts say.Further cooperation between Gazprom and Japan should deal mainly with the latest projects aimed at increasing Russian gas exports to Japan, says Grigory Birg, an analyst from Investcafe.The Sakhalin – 2 project should be more attractive for the Japanese, as the prime costs there are acceptable, Korchyomkin added. The situation around the Vladivostok LNG plan, that’s due to start operations in 2018, so far looks vague. The price of gas produced there could rise too much – to as $700 per a thousand cubic metres, the expert concluded.Pricing it inAt the moment price issue remains a key one for the Japanese. “Cutting prices for the fuel bought abroad is an urgent task for our country,” said Toshimitsu Motegi, the Japanese Minister of Economy, Trade and Industry.People in Japan pay about $550 per thousand cubic metres of gas, which compares to the average of $365 in Europe.The Japanese have started to ask for lower prices, Valery Nesterov, an analyst at Sberbank Investment Research, told Kommersant daily. This isn’t surprising, as the number of similar requests has increased, adds Mariya Belova, a senior analyst at the energy sector at Moscow School of Management, Skolkovo. Rosneft and Novatek are among other Russian companies offering their LNG (liquefied natural gas) projects, and looking for possible delivery contracts to the country. … Read More
In Silicon Valley’s Kitchen
Venture capitalists in Silicon Valley funneled about $350 million into food projects last year, and their ultimate goal is to transform the food industry. … Read More
Elephant poaching on the rise in Central African Republic
NAIROBI, Kenya — Elephant poachers in the Central African Republic are taking advantage of political turmoil to hunt in protected areas to sell the animals’ meat and tusks.The already-rampant poaching trade — fueled by high ivory demand from Asia and responsible for the slaughter of between 20,000 and 30,000 elephants a year in Africa — has been further exacerbated by the ousting of President Francois Bozizé last month, Reuters reported.”The situation is really quite dangerous,” Bas Huijbregts, the World Wildlife Fund’s head of policy in the region, told Reuters.The World Wildlife Fund, which has been working on conservation projects in the CAR since the 1980s, reported that the poaching is occurring in protected areas like the Dzanga-Sangha, a UNESCO World Heritage Site.Although it did not offer exact numbers, the WWF said in their statement that “initial reports indicate [the slaughter] may be extensive” and that poachers were openly selling elephant meat in local markets.Continue Reading… … Read More
Rosneft sets sights on Iraq and Venezuela
Igor Sechin told reporters on Tuesday that the company is considering teaming up with veteran business partner ExxonMobil in Iraq.”We will work with anyone who offers good terms, we’ll work with ExxonMobil too,” Reuters reported Sechin as saying.An Iraqi oil ministry delegation will arrive in Moscow on May 10 to further discuss the deal.Since Sechin became CEO, Russia’s largest producer of oil Rosneft, has upped its game against state-controlled rival Gazprom which currently controls 70% of Russian gas exports.His first big step was acquiring the Anglo-Russian company TNK-BP from BP for $55 billion on March 21 2013, which will give it an Arctic niche.Sechin aims to chip away at the Gazprom monopoly, and to double Rosneft’s domestic gas market by 2020, from 9% to 19-22%, plans made clear at an investor meeting in London on Tuesday.“We like to work with gas very much,” Sechin said at the meeting. “The domestic market is also attractive, and it suits us well.”Sechin predicts the new mega company may reach a market capitalization of $120 billion in the next two years, which would trump Gazprom’s estimated value of $73-90 billion.According to the Oxford Institute for Energy Studies, by 2013 Russia will even outperform its pre-crisis levels of 2008.Rosneft expects to produce more than 40 billion cubic meters (bcm) of gas in 2013, over 60 by 2016 and 100 bcm in 2020, half of which will be produced in new projects.The company is also on Gazprom’s heels in LNG development, as both companies are looking to expand their influence, particularly in exports to Asia.Venezuelan vision Just hours after the Iraq announcement, Venezuela’s government trumpeted a joint venture with Rosneft and PDVSA, the national oil company that dominates the Venezuelan market.Rosneft will get a 40% share and the preliminary license is set for 25 years, and subject to extension.The Venezuelan project will develop 342 kilometers in the Orinoco River basin, one of the richest oil reserves in the world, with an estimated 86.4 billion barrels, according to RIA Novosti.Russian companies are involved in 5 oil projects in Venezuela, the world’s fifth largest oil exporter.Venezuelan Oil Minister Rafael Ramirez has estimated the joint Russian-Venezuelan projects will be worth close to $50 billion by 2019. … Read More
