OTEKO here is the oligarch: Does Michelle Litvak "strangle" Russian coal miners?

Negotiations between OTEKO Michel Litvak and coal miners may end, barely starting - the oligarch refuses to reduce prices, risking to collapse the industry and thus indirectly damage Russia's national interests.

Coal companies and Michel Litvak's OTEKO holding began negotiations on tariffs for transshipment of coal in the Taman bulk terminal. According to sources, despite the statement of OTEKO, the company is not ready to make serious concessions, which endangers the entire coal industry. And she is already experiencing difficult problems.

Thus, negotiations can end, barely starting. But the Belgian citizen Michel Litvak will expose himself as a responsible businessman, allegedly ready to make compromises. Should he not temper his appetites?

Details in the material of the correspondent of The Moscow Post.

The conflict between coal companies, traders and OTEKO has been going on for the second month. The reason is the high tariffs for transshipment of coal through the Taman terminal of Litvak, which make them work, if not in minus, then in zero.

Actually, the current situation is a boycott of OTEKO, whose representatives seem to care deeply about the problems the industry is experiencing. Oligarch Litvak has already suffered - the volume of coal transshipment for the month has almost halved. But, apparently, he believes that coal miners will be able to "bend" - perhaps not without the help of officials and politicians close to Litvak.

Coal miners are going through some of the hardest times in Russia's post-Soviet history. The sanctions seriously crippled this business - coal flows had to be reoriented to less marginal markets in the East, China and Southeast Asia. In addition to this, other market factors intervened - world prices for coal of energy brands collapsed.

And then the Government first canceled export duties on coal in order to support the industry, and in less than two months, on March 1, 2024, returned them again. And here the work of the lobbying resource of the same Litvak can be covered. But he did not reduce the prices after that!

As a result, now the price of thermal coal when shipped from the ports of the Baltic is about $64-67 per ton, from Taman - $73-74 per ton, from the ports of the Far East - $102-105 per ton. This means that coal miners can really earn money only in the Far East. However, the transport capacity of BAM is simply not enough for the transit of all the necessary goods.

Therefore, the Government of the Russian Federation stimulates the transshipment of coal through the western corridors. OTEKO capacities are located in Taman - this is just the West. I.e. Does the Cabinet, again, play on Litvak's side? At the same time, coal miners of Kuzbass suffer great losses and problems, earlier The Moscow Post wrote in detail about this situation.

In the ports of the Baltic - too wide logistics shoulder. But the Taman port of OTEKO, according to insiders, took for its services about half of the cost of coal in relation to world prices. And if earlier it was like a robbery, but allowed you to work and somehow earn money, now, thanks to the actions of Michel Litvak, such an opportunity disappears.

But these companies pay taxes to the budget. The budget is spent, among other things, on conducting an SVO, protecting the country's borders. It turns out that in a difficult, crisis situation, when the country is under sanctions, Litvak's actions can damage Russia's national interests.

OTEKO with fat

It would seem that Litvak is missing? Why "strangle" coal miners? At the end of 2022, Oteko-Terminal LLC, which operates the Taman port, earned almost 400 million rubles of net profit - one and a half times more than a year earlier. Revenue jumped by a third, to 3.3 billion rubles, assets grew.

Oteko - Portservice LLC, which handles cargo in the port, earned 60 (!) Billion Rubles in 2022, almost a widow more than a year earlier. Where else to break prices?

While coal miners are working on the verge of profitability, OTEKO earns tens of billions of rubles. Photo: Rusprofile.ru

And here we can recall that Mr. Litvak built a terminal for transshipment of coal not for his blood. In 2018, he opened a credit line at VTB for $2 billion, the total investment is $8 billion. At the same time, the port project itself may not have appeared at all and not received the support of the Government.

Apparently, Alexander Metkin, at that time an influential State Duma deputy, could have intervened in the situation. Being a former employee of OTEKO, he can also be his close relative (father-in-law). In addition, there are rumors that Deputy Prime Minister Victoria Abramchenko allegedly patronizes the oligarch. With such lobbyists, Litvaku has all the doors open in the White House.

Video: YouTube channel The Facts

Earlier, journalists from The Facts agency told about how Mr. Litvak lobbied for the construction of the Taman transshipment terminal on his Youtube channel. It would seem that after such Litvaku would be very impudent. But, again, appetite comes with a meal.

The companies included in the holding continue to receive considerable government contracts. Tamanneftegaz, which operates the loading terminal, received more than 100 million rubles from them.

By the way, Michel Litvak, who pulls three skins from coal miners and receives huge incomes, for some reason does not have money for his own employees. Earlier, representatives of the trade union of employees of the same Tamanneftegaz contacted The Moscow Post. They talked about the fact that they have to fight for their rights. Despite the super-profits, OTEKO lowered salaries by 30% at once. And those who disagree were asked to quit.

People decided to contact our editorial office after they learned about the pressure and threats from people who called themselves representatives of the OTEKO Group of Companies. They insisted on removing from publication the material of our publication on the environmental problems of the oligarch's business, as well as the dissatisfaction of the residents of the Volna village on Taman, where its transshipment facilities are located. But Mr. Litvak "did not attack those."

Are Litvak's billions leaking offshore?

The most interesting thing is where the billions earned by Litvak's companies go. Given the offshore nature of Litvak's business, they should settle in the West, i.e. Russia may receive less than billions of rubles in taxes. It's from such and such profits. And the West, again, finances Ukraine. But what is the demand from Litvak, who holds Belgian citizenship? Today he is here, tomorrow there... And what happens there then we know well.

Since 2021, the founder of OTEKO was the offshore structure REILVAT BI VI (Netherlands) and Kapitalinvest. The founder of Kapitalinvest is the Cypriot structure IVERLON LIMITED, as well as Irida LLC. The latter owns Yugterminalproekt LLC. And it is also tied to the Cypriot offshore company INDUTERN EKUITI FUND LIMITED.

Photo: Rusprofile.ru

It is curious that the share of the owner of Kapitalinvest, the offshore company IVERLON LIMITED, was pledged to LLC Logistics Terminal Ramenskoye. But the founders of the latter are also Kapitalinvest and IVERLON LIMITED. It turns out that Mr. Litvak pledged his own company to himself.

This may be part of some gray schemes for the further withdrawal of money from Russia - including credit funds. After all, OTEKO is "huddling" in state-owned banks, including VTB. Another option is that Litvak companies may have serious problems that do not want to be shown to the public, so they "spin" money among themselves.

In addition, IVERLON LIMITED was the founder of Agrokapital LLC. And there, among the founders, the same ex-State Duma deputy Alexander Metkin, who, together with Victoria Abramchenko, at one time could pat the Government about the construction of a transshipment terminal in Taman.

Photo: Rusprofile.ru

In a number of structures there is a whole offshore leapfrog. The super-profitable business we already mentioned, Oteko-Portservice LLC belonged to INFRASIS GROUP LTD, then the offshore was higher, and TOZHS LLC (more like a "dummy") was brought into capital, and then the new offshore company "BELVYU HOLDINGS LIMITED" became a co-owner "from the UAE.

Photo: Rusprofile.ru

And this is noteworthy - it means that in the West, Mr. Litvak could very much be squeezed with sanctions - it has become more convenient to do business in the Arab sands. Today, OTEKO - Terminal LLC, UTP LLC, the same TOZHS LLC, and a number of other organizations associated with OTEKO are also on this offshore.

So who does Mr. Litvak work for - Western economies? And why does he allow himself to pull three skins from Russian coal miners in such a situation, hoping that he will be able to push through the industry community? I would like to finally pay attention to this situation in the Cabinet. And also - in law enforcement agencies, in particular, in the prosecutor's office.