This deal was linked to RBI’s efforts to exit Russia, as the acquisition would be paid for out of some 1.6 billion euros worth of trapped RBI profits in the country. If the deal had gone through, it would have meant that even if RBI subsequently sold its Russian operations at a cut-down price, it would have at least been able to enjoy some of the profits those operations had made.
However, RBI was forced to give up on the deal in May under huge U.S. pressure after the U.S. flagged it as a potential violation of sanctions, and Austrian authorities insisted that RBI abandon the transaction.
The decision to abandon the deal subsequently led to a legal challenge by Rasperia Trading, a company formerly owned by Deripaska. The timing of the court ruling has raised questions over whether the lawsuit is being used strategically to lower the price of the RBI sale.
FT also suggested that similar to previous cases, such as the sale of Volkswagen’s Russian assets, the legal challenges could be part of a broader tactic to devalue the asset.
This article was originally published by bne IntelliNews.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia’s Prosecutor General’s Office has designated The Moscow Times as an “undesirable” organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a “foreign agent.”
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work “discredits the decisions of the Russian leadership.” We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
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 every contribution makes a significant impact.
By supporting The Moscow Times, you’re defending open, independent journalism in the face of repression. Thank you for standing with us.
Once
Monthly
Annual
Continue
Not ready to support today?
Remind me later.
×
Remind me next month
Thank you! Your reminder is set.
