Mikhail Marynich: There is desire to buy Belarusian petroleum and chemical industry for next to nothing
- 22.10.2008, 15:56
A number of large Russian companies have frozen their investment projects in Belarus. This specifically concerns petroleum and chemical industry. Experts link such changes to the global financial crisis.
Siberian and Urals Oil, Gas and Chemical company Minudobreniya, Evrokhim, Lukoil, Rosneft are not all but just a few Russian companies which suddenly lessened their interest in Belarusian enterprises. And in the beginning if the year they hurried to establish joint ventures with Hrodna Azot, Homel-based chemical plant, Polatsk-based Naftan, Polimir from Navapolatsk.
“However, recently talks on these projects have been suspended one can say. By the way, we do not observe any new initiatives on the part of Russian companies. The process has slowed down,” PRIME-TASS agency has informed with a reference to an anonymous source in the government organs of Belarus. The same source names the reason for the inactivity: the world financial crisis.
The head of the PR department of the Mineral chemical company Evrokhim Vladimir Torin said to the request of Radio Svaboda commenting on the situation notes:
“We do not comment on our financial decisions, as it would be not right from the point of view of the business. The only thing I can say, Belarus is one of the strategic markets for us”.
A deputy head of Moscow CIS countries Institute Leonid Zharikhin said to “Svaboda” that such actions of Russian businessmen are completely logical. He connects freezing of these projects “sensible pragmatism”.
“We see what is going on at world markets. Prices are changing suddenly, including the ones on shares of primary production. In such a situation Russian companies I think have decided to wait for the prices to stabilize at new positions. And why to buy at a too high price?! I think they will continue talks if everything would be stabilized”.
The former Minister of Foreign Economic Ties of Belarus Mikhail Marynich believes that the world financial crisis has become a good opportunity for Russian oligarchs to buy Belarusian petroleum and chemical industry for next to nothing. Marynich believes that Russians have made a pause on purpose in order to make prices of Belarusian enterprises drop.
“Receiving 2 billion loan from Russia by Belarus gives a right to Russian government and business make Belarusian enterprises bankrupt, including petroleum and chemical industry. They will make the prices favourable for them, and Belarusian officials will receive their kickbacks. It seems to me that it is rather related to the intention to make Belarusian national property cheaper.
It is an undisputable fact that there is an interest to Belarusian oil and chemistry industry among Russians. And today the Belarusian government and officials have been given an enticement”.