Ramzan Kadyrov. Photo: REUTERS/Said Tsarnayev

20 September 2018, 23:34

Economists recognize Kadyrov to be winner in dispute over oil company

The transfer of the "Chechenneftekhimprom" Company to Chechen authorities was dictated by political interests, economists said, adding that for the "Rosneft", the company was not the main asset in Chechnya.

The "Caucasian Knot" has reported that on September 18, the Russian president signed a decree on the transfer of the shares of the "Chechenneftekhimprom" to Chechen authorities.

This transfer means that Kadyrov managed to "squeeze" Igor Sechin, the head of the "Rosneft", out, said Mikhail Krutikhin, an economic analyst.

According to Mr Krutikhin, despite the above transfer, the "Rosneft" still has huge assets in Chechnya.

According to Sergey Pikin, Director of the Economic Development Fund, Chechnya is trying to develop at the account of its own resources.

Let us note here that in April 2017, Kadyrov and Sechin agreed that "Rosneft" would not sell its regional assets to Chechen authorities, and would not build an oil refinery in Grozny, but would invest in the republic's social infrastructure. According to experts, this agreement is mutually beneficial for the parties.

This article was originally published on the Russian page of 24/7 Internet agency ‘Caucasian Knot’ on September 20, 2018 at 07:48 pm MSK. To access the full text of the article, click here.

Author: Gor Alexanyan; Source: CK correspondent

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