The incurable "Mechel".

Evgeniy Sigal, "the Dengi" columnist, investigates how Igor Zyuzin’s company turned out to be on the verge of bankruptcy, how one of the largest Russian steel companies is on the verge of bankruptcy, who could get all its assets and who will pay for its debts.

The doctor’s call.

The name of the billionaire Igor Zyuzin became known publicly in July 2008, when Vladimir Putin criticized him and his company "Mechel". The problems of the industry, including transfer pricing, which allows the companies to minimize taxes were discussed at a government meeting held with the participation of the owners of the leading metallurgical enterprises. Zyuzin was not present at the meeting. "We invited Igor Vladimirovich Zyuzin, the owner and manager of "Mechel" Igor V. Zyuzin, to the meeting, but he suddenly fell ill. And meanwhile in the Q1, the company sold its raw materials abroad at the prices twice below the market price . And where is the margin in the form of taxes?" - Vladimir Putin wondered. He advised Zyuzin (today we can say that this phrase became catch) "to recover as soon as possible, otherwise they will have to send him a doctor and clean all these problems up". And he also asked to pay special attention to the issue of FAS pricing in "Mechel" "and maybe even the Prosecutors’ Investigation Committee" (then the IC was part of it).

Full text available to premium subscribers only.

Buy full access for 24 hours now


Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
12 Northfields Prospect; London, - SW18 1PE; United Kingdom
E 51° 27.454518" S 0° 14.101236"

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer