US-Iran sanctions: What do they mean? – BBC News
The United States can remove the sanctions if he refuses to control in the Gasologa Deripaska group proposed to move away from the helm of the end of April EN + reported that the businessman who fell on April 6 together with his key assets in the SDN-list fundamentally agreed with the proposal of the head of the Board of Directors of the Lord Gregory Barker Reduce your share in the group below 50% (now about 66%) and exit the council. Also, Mr. Deripask agrees with the need to update the Council at the expense of independent directors. May 18 EN + stated that Oleg Deripaska came out of its board of directors and pledged to be not re-elected to the Board of Directors of Rusala. Shareholders “Rusal” will consider the issue of updating the Council at the Annual Assembly (independent directors are also planned). EN + clarified that “Barker Plan” suggests the liberation of Rusal from under sanctions due to the decline in Oleg Deripaska’s share in EN + and the appointment of most independent directors to the Council. Sources “Kommers” previously said that shareholders of Rusal – EN +, Sual Partners Victor Vekselberg and Leonard Blavatnik (26.5%) and Glencore (8.75%) – discuss the rupture of the shareholder agreement, but in the message EN + emphasized that Lord Barker in accordance with the agreement nominates the independent director EN + Philippe Meilfeit to the Council of “Rusal”.
Who else from businessmen fell into the sanction list
Whether Oleg Deripaska is ready to repeat it in a situation with a group of gas, while it is unclear. In the GAZ and Basel group (manages the assets of the businessman) refused to comment, the representative of Mr. Deripaska did not answer the calls “Kommers.
As partners of the GAZ Group reacted to sanctions
At the same time, before the release of Messages OFAC, it became known that the Group offered the Ministry of Economy to support her business, taking into account sanctions. In a letter, the Ministry of Gas asks not to coordinate new specialties in the auto industry before adopting a new investment and focus on developing an accelerated import substitution plan, reported on Tuesday “Interfax”. In the letter, the Group, taking into account sanctions (the company entered the list of key assets of Oleg Deripaska, who, like the businessman himself, were under the US sanctions in early April) insists on the need to develop new strict requirements for investors in the localization of production, and also proposes a key development program domestic autocomponents as the basis of the new investment. Also, the GAZ considers the “timely” initiative of the Ministry of Industry, to develop the concept of a new investment, which should significantly tighten the criteria for recognizing the Russian technicians in the Russian Federation.
Specificities (SPIK) – developed by the Ministry of Industry and Technology and the special regime used in recent years, which involves the conclusion of the contract between the investor, federal and regional authorities. The company undertakes to invest a certain amount into production, create new jobs, and in the exchange of power provide it with tax breaks for ten years.
The GAZ Group recommended the Ministry of Economy to significantly increase the minimum allowable amount of investment in the framework of the Speaker (now such a contract can be obtained when attached about 1 billion rubles.). “According to the data of the GAZ Group, the creation of a line of only light and medium-room commercial vehicles even in the presence of its own production requires investment in the amount of at least 20 billion rubles. Only at the level of cars, “the concern says,” while the local component production for two families has a minimum investment threshold of about 35 billion rubles.”.
Rules of movement for cars on gas will be changed in favor of the GAZ Group
According to “Kommersant, the catalyst for sending a letter of the GAZ group was the preparation of a spike of competitors – Sollers – Vadim Shvetsov and Japanese Isuzu, which organize an assembly in the Russian Federation of commercial vehicles with a loading capacity of 3.5-48 tons on the site in the Ulyanovsk region. The total investment in the project will exceed 6 billion rubles., production will be approximately 7 thousand. Machines per year, and about 30% will be sold to export through the Isuzu Distributor Network. As reported to “alongthecoastcottage” on May 15, according to the spike, the joint venture localizes the gearboxes, engines, frames and stamping, and from 2025 – electronic control units and the ADAS system. Also, the source “alongthecoastcottage” was then noted that the deepening of localization would not at the expense of the Japanese, but on the basis of the Volga motor plant of the Sollers group, which produces engines and transmissions. Other interlocutors “alongthecoastcottage” in the industry considered unfair that the main investments are planned from 2023, and five years before the investor will have “the ability to make a low-voltage product and use the same preferences as high-tedied players”. In fact, other owners of the Sollers (Daimler, Mazda Sollers) are already working on similar conditions.
Then in the group gas insisted that “the rules of the game should be the same for all”. According to the company, discussed, but still not yet adopted “hard” requirements of the new investment in the auto industry, a new foreign player “Simply physically could not fulfill”. In a letter in the Ministry of Economy, the concern expressed confidence that in the spike of Sollers and Isuzu there is no deep localization, and referred to the fact that with a wide range of equipment (light and medium-room commercial vehicles, heavy trucks) the volume of investments – only about 5 billion rubles. At the same time, considered in the group, the speaker was concluded against the background of excessive capacity in the Russian Federation, there is a group of gas in the segment, which fell under American sanctions. In such conditions, supporting the project “Sollers” and Isuzu, according to gas, “counterproductive” and is directed against them. Source “alongthecoastcottage”, familiar with the situation, notes that the Ministry of Industry and Commission does not take into account the interests of existing investors.
Which countries supplies gas machines
The letter also noted the need for “real localization of components that ensure the main functions of cars involving the existence of intellectual property rights and its own technological base”. Such components in the gas group attributed engine, gearboxes, control systems, leading bridges, steering and brakes. “Also, dependence on foreign know-how on the most sensitive high-tech components should be excluded, – noted in the document.
In the GAZ group, they refused to comment, in Sollers did not answer “alongthecoastcottage”. The source “alongthecoastcottage”, familiar with the situation, notes that the contract with direct competitors was signed parallel to the development of support for the GAZ Group, possibly to preserve its market share. He says that the Ministry of Industry will not spend a consultation with a concern to reduce the impact of the contract for the company. Also, the interlocutor “alongthecoastcottage” notes that the GAZ group requested not to conclude non-transparent contracts in already existing segments, as well as to propose rules for greater transparency of concluded contracts.