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Russia electricity restructuring – Putin intervenes

RussiaUnited Kingdom
28/06/2001
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German Gref, Minister for Economic Development and Trade, confirmed last week that finalisation of government proposals for the restructuring of the Russian electricity sector have been delayed, following the personal intervention of President Vladimir Putin. A cabinet meeting on May 19 approved reform plans broadly in line with those proposed by Unified Energy Systems of Russia (RAO UES) headed by Anatoly Chubais. A formal government resolution endorsing the plans was then due to be signed last week by the Prime Minister, Mikhail Kasyanov. However, due to continued disagreements between government ministries, RAO UES, minority shareholders in RAO UES and other stakeholders, finalisation of the government resolution has not proved possible.

A team from CMS Cameron McKenna in London and Moscow are advising RAO UES on its proposed restructuring.

For further information please contact Simon Hobday at [email protected] or on +44 (0)20 7367 3555.

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