Sergei Chemezov was not included in the leadership of Transneft, but his family’s business with members of the Tokarev clan flourished. Andrei Bolotov in 2001 worked for the Itera gas company, whose co-owner accidentally turned out to be the second wife of Chemezov Sr. Ekaterina Ignatova. Chemezov's son Stanislav became a partner of Andrei Bolotov and his wife.
Among other things, she and Stanislav Chemezov became co-owners of LLC GKK-Meridian and LLC RPA Estate, having acquired a profitable house on Ostozhenka Street 19. The business interests of partners also included real estate in Latvia and Croatia. When Maya Tokareva submitted documents for obtaining Cypriot citizenship, it turned out that her address coincides with the address of Ronin Europe, which by chance is part of the Russian group of companies Ronin Trust, which manages the finances of the Transneft pension fund.
Having relied on former Chekist colleagues, Tokarev did not neglect the Kremlin "liberals" either. Ex-member of Transneft’s board of directors Arkady Dvorkovich (assistant to President Dmitry Medvedev) introduced the former boss to the co-owners of Summa group Ziyavudin Magomedov and his brother Magomed. In 2011, Transneft and Summa jointly acquired 50.1% of the country's largest cargo turnover Novorossiysk Commercial Sea Port (hereinafter NCSP), although one of Putin's closest friends Arkady Rotenberg claimed the stake.
Cleaning partners and shareholders
In March 2018, the Magomedovs were imprisoned, which temporarily violated Transneft’s plans to buy the brothers ’shares in NCSP (they expected to complete the deal in early spring). The fact is that after the completion of the presidency of Medvedev, the Magomedovs began to ballast for Tokarev. As a result, in October 2018, the purchase was completed. Buying shares of NCSP from the brothers, Transneft showed unprecedented generosity, having paid $ 750 million for their package (60% more than the market price!). Despite the fact that the port was going through hard times, and the consolidated cargo turnover of NCSP terminals for January – July 2018 fell by 3.3%.
Tokarev did not show generosity to minority shareholders. Outraged by the yield of 1.5%, the minority shareholder Navalny. The owner of 71% of preferred shares, UCP group of Ilya Shcherbovich, on September 19, 2016 through the Moscow Arbitration Court, demanded that Transneft equalize dividends on its securities with ordinary shares, and also proposed to disclose details of the failed transaction with foreign exchange derivatives in Vneshprombank and Intercommerts Bank .
The tactics turned out to be true. Transneft chose not to develop the topic and bought shares from UCP for 169.7 billion rubles. (about $ 3 billion at the exchange rate on March 27, 2017). The reason is clear. The deal, the circumstances of which he called for pulling Shcherbovich at a meeting, caused the company a loss of at least 73.5 billion rubles. The chairman of the board of Interkommerts, Alexander Bugaevsky, moved to Prague, and the co-owner of Vneshprombank Georgy Bedzhamov, moved to Monaco. How did they do it? Perhaps it's all about connections. One of the founders of Vneshprombank turned out to be ... Zarubezhneft, in which Tokarev appeared shortly before. And son-in-law of Bolotov, before Bedzhamov’s escape, met with him on the board of directors of the Sakhalin Shipping Company and on the presidium of the Russian Bobsleigh Federation.
When the vast majority of preferred shares were held by the corporation, dividends per share rose from 757.87 rubles. in 2015, before the UCP lawsuit, up to 11,453.76 rubles. after redemption of her package. That is 15 times.
Two bears at the same wells
When one company produces oil and another controls pipelines, a conflict over pricing is inevitable. Even if both have a controlling stake in the state. Rosneft expanded unceasingly, swallowed Itera with Bashneft and began to look closely at Zarubezhneft, where Tokarev left his protege Nikolai Brunich on the farm. At first, he somehow managed, but then the collapse began: in 2010-2012, the company's net profit decreased by 3.5 times. An unpleasant report went upstairs, and Brunich was replaced by former First Vice President of Rosneft Sergey Kudryashov. What did not save the company from a series of failures. Only on unsuccessful prospecting in the Republika Srpska in Bosnia, $ 300 million was lost.
The transition of Zarubezhneft to Sechin’s sphere of influence was only the beginning of an attack on the positions of the former ally. Arriving in Khakassia on December 19, 2011, Putin unexpectedly demanded that the managers of eight state-controlled companies, including Transneft and Gazprom, be checked with offshore and affiliated organizations. Rosneft, the president pointedly did not include in the list, and everyone who needs a hint understood. Brunich, Kushnarev and Arustamov (incidentally, Galina Tokareva rewrote her share of Pramo Technologies to him) the next year had to urgently leave their homes.