Siberian Oil Giant Could Be Taken Over By Vladimir Putin

Vladimir Putin rules with an iron fist and is known for going after what he wants until he ends up getting it. Putin has been accused of coercing and trying to force his will on a number of business interests in order to get them to succumb to his demands. Those who don’t comply with Putin’s demands, end up going to jail and facing the wrath of the authorities.

Mikhail Khodorkovsky was arrested over ten years ago and his Yukos Oil Co was seized by the authorities and reports suggested that it was Putin who was behind the arrest. In 2014, Putin targeted billionaire Vladimir Evtushenkov and made him relinquish his control of OAO Bashneft.

Now the Russian president has fixed his sights on OAO Surgutneftegas, a mega oil company that is estimated to be around $34 billion. Over the last three decades, Vladimir Bogdanov has been instrumental in running and developing OAO Surgutneftegas and turning it into the mega oil company that it is today.

Prosperity Capital Management Ltd which is based out of Moscow owns a number of Surgutneftegas shares. The company is concerned that it could lose a lot of money if Putin decides to take over the company or target its leaders. In a statement, Alexander Branis, chief investment adviser of Prosperity Capital Management Ltd said “Investors are afraid Surgut will not be able to use this money at its sole discretion or that this money will ever benefit shareholders”.