2018 JM Godzimirski, the Political Economy of Russian Aluminium, Inter

Index

A Alfa Bank, 94, 173, 202, 203, 228, Abramovich, Roman, 40, 43, 57, 58, 230 64, 81, 98, 131, 173, 176, 177, Alfa Group, 150, 155, 228, 243, 250 196, 213–215, 220, 221, 224, Alpart, 80, 87, 88, 266, 267 225, 248, 249 ALSCON, 80, 90, 98 Achinsk Alumina Plant, 43, 45, 55, Alukom-Taishet AZ, 92 79, 124, 132 Alumina Actors import, 21, 31, 273 business community, 7, 145, 151, production, global, 14, 17 168–170, 211, 218, 276 production, Russia, 11, 14, 16, 44, horizontal relationships, 142 122, 125 rankings, 212, 247–249 production, regions, 15 state, 4, 6, 7, 18, 19, 25, 84, 86, Aluminium 101, 142, 144, 146, 153, 157, actors, economic power in Russia, 158, 168, 169, 172, 194, 211, 253 214, 241, 246, 253, 261, 274, actors, political power in Russia, 5, 276 6, 121, 123, 141, 246, 248 vertical relationships, 141, 142 association, 145, 200 Adachi, Yuko, 57 demand for in USSR and Russia, 17 Aksenov, Sergei, 131 export, 3, 6, 18–20, 33, 34, 37, 39, Alcan, 17, 23, 32, 52, 60, 80, 83, 84, 41, 64 215 export from Russia, 39 Alcoa, 17, 25, 32, 52, 60, 63, 69, 80, global market, 2, 4, 5, 14, 17–20, 83, 84, 90, 91, 94, 96, 97, 215 38, 41, 44, 83, 91, 106, 109, Alekperov, Vagit, 276 143, 216, 262–264

import from Russia, 45 B price, 19, 20, 22, 24, 25, 37, 42, Bank and banks, 22–25, 68–71, 93, 51, 62, 69, 86, 90, 91, 93, 96, 103–105, 107, 127, 173, 180, 97, 99–102, 107–109, 111, 189, 198, 199, 230 142, 230, 265 Bashkortostan, 122 production, global, 14, 20, 36, 51, Basic Element, 65, 66, 141, 202, 215, 83, 102 238, 244. See also Basel production, Russia, 5, 17, 19, 21, Bauxite 38, 45, 51, 59, 79, 83, 105, import to Russia, 16, 32 122, 217, 262, 263 production, global, 14, 44 production, USSR, 3, 34 production, Russia, 16, 46, 81, 91, use, 12, 38, 42, 144, 230 92, 108, 122 value chain, 14, 143, 262, 264 Basel, 64, 68, 102. See also Basic valley, 268, 269 Element wars, 4, 121, 125, 139, 213, 261, Belkovskii, Stanislav, 179 263 Berezovskii, Boris, 39, 40, 43, 55, 57, Aluminium smelters, 30, 31, 33, 58, 98, 129, 131, 134, 148, 154, 38, 41, 48, 74, 89, 110, 127, 156, 169, 173–175, 180, 213, 143, 215, 224, 269. See also 214, 221, 225, 233 Bogoslavski AZ; Boguchansk Berezovskii vs Abramovich case in AZ; Bratsk AZ; Irkutsk AZ; London, 59, 98, 131, 221, 233 Kandalaksha AZ; Khakas AZ; Blat, 219 Krasnoyarsk AZ; Nadvoitsk AZ; Blavatnik, Len, 217, 230, 235–237 Novokuznetsk AZ; Pikalevo AZ; Bogdanchikov, Sergei, 177 Sayansk AZ; Ural AZ; Volkhov Bogoslav Alumina, 79 AZ; Volgograd AZ Bogoslavski AZ, 79 APEC Business Advisory Council, Boguchansk AZ, 102, 112, 227, 264 226, 227, 241 Boguchansk, 48, 224, 227 Arkhangelsk, 44, 122 Boguchansk Hydropower Plant Aroaiama Mining Company, 79, (Boguchansk HPP), 48, 224, 269 80 Boguchany Energo-Metallurgical Asia, 2, 23, 62, 83, 108, 239, 263, Union (BEMO), 224, 269 270, 271 Boksitogorsk Alumina Plant, 79 Asia-Pacifc Economic Cooperation Borisov, Sergei, President of Genova, (APEC), 226, 227, 241, 271 203 Association of Russian Banks, 203 Bratsk, 61, 223 Association of Russian Regional Banks, Bratsk AZ, 42, 43, 55, 57, 66, 67, 79, 92 203 BrAZ, 61, 89 Aughinish refnery, 80 Brazil, 17, 51, 60 Australia, 17, 23, 80, 88, 92 Bulygin, Aleksander, 62, 65, 217, 229, Aven, Petr, 220, 228, 230 237 Index 283

Bush, George W., 1 Deripaska, Oleg Bykov, Anatolii, 40, 54, 57, 126, 127, APEC Business Advisory Council, 129, 133, 142, 213, 229, 234 226, 227, 241, 271 career, 56, 57, 214, 221, 229 charitable activities, 244 C legal battles, 131, 231, 233 Chelyabinsk, 122 networks, 219, 223, 241, 249 Chemezov, Sergei, 220, 276 opposition against WTO, 75, 76 Chernomyrdin, Viktor, 156 rankings, 243 Chernoy, Lev, 38 social resonsibility manifest 2004, Chernoy, Mikhail, 98, 131, 222, 232, 243 233 and TWG, 40, 55, 56, 65, 217, 234 Cheung, Barry, 101, 103, 104, 240 wealth, 105, 158 China, 2, 12, 17, 20, 21, 23–25, 51, Diskin, Iosif, 179 76, 94, 96, 102, 227, 237, 263, Domestic demand for aluminium in 270, 271 USSR and Russia, collapse, 17 Chinalco, 94 Dual state, defnition, 5, 146 China, production of aluminium, 13, Dyachenko Tatyana, 221. See also 16, 23, 66, 100, 143, 272 Yeltsin, Tatyana Chubais, Anatolii, 46, 48, 54, 58, 148, 155, 173, 188, 220, 222, 225, 243, 244, 251 E Commodities’ market, 5, 22, 24 Economic crisis 2008-2009, 20, 109 Commodities’ market, booms and Economic crisis, Soviet, 17, 25, 30, busts, 22 37, 151 Commodities’ market, cyclical nature, Economic reforms, Putin, 202, 251 23 Economic reforms, Yeltsin, 147, 274, Competitiveness, 47, 57, 69, 72, 184, 275 187, 198, 262 Economy, 2, 4, 7, 17, 19, 24, 25, Corruption, 105, 140, 153, 190, 191, 29, 32, 35–38, 45, 46, 48, 56, 194, 198, 234, 265, 274 58, 71, 73, 106, 110, 121, 122, Crime, 39, 40, 98, 130, 171, 198, 124, 135, 141, 150, 152–154, 218, 233, 274 158, 168, 170, 171, 174, 175, Crimea, 121, 151, 199 177, 181, 183, 185–188, 190, Crisis, economic, 7, 248, 265, 276 191, 195, 197–200, 212, 223, Crisis, economic 2008–2009, 20, 109 235, 237, 249, 253, 261–263, 272–274 Elections, 59, 71, 120, 128–134, 142, D 155, 159, 171, 172, 181–183, Delovaya Rossiya, 145, 150, 198 189, 196, 197, 235 De-offshorization, 150, 198 Krasnoyarsk krai, 133, 134 284 Index

presidential, 59, 71, 128, 129, 142, G 172, 183, 189, 196 Gaddy, Clifford, 37 regional, 120, 131, 132, 142, 235 GAZ, 74, 202, 215, 228 State Duma, 159, 171, 172, 181, GAZ Group, 215 182, 189, 235 Gazprom, 85, 104, 105, 169, 179, Electricity, 12, 15, 21, 31, 46, 48, 58, 202, 225 66, 74, 87, 125, 129, 142, 223, Gazprombank, 270 224 Glasenberg, Ivan, 236, 237, 240. See EN+, 91, 95, 217, 236 also Glencore Energy, 3, 6, 14, 15, 29, 33, 34, 41, Glencore, 80, 102, 215, 217, 218, 43, 46–48, 53, 58, 61, 72, 74, 230, 236, 240, 264, 266 82, 84, 85, 91, 95, 96, 99, 100, Gorkii Automobile Plant (GAZ), 74 109, 121, 124, 142, 188, 191, Gref, German, 75, 173, 177, 187, 215, 223, 240, 251, 269 189, 220, 251, 276 Energy policy, 46 Guinea, 17, 32, 43, 45, 79, 80, 87, Eurallumina alumina refnery, 80 88, 92, 267, 271 Evenk okrug, 123, 132 Gusinskii, Vladimir, 134, 155, 169, 173, 175, 180 Guyana, 17, 33, 79, 80, 87, 92 F Fadeev, Valerii, editor-in-chief of Expert H , 203 Harvard, 238 Family, 1, 5, 57, 80, 126, 128, 131, Hill, Fiona, 275, 277 170, 181, 183, 214, 221, 225, Hydropower, 3, 21, 41, 47, 74, 82, 238, 276. See also Yeltsin clan, the 124, 125, 224, 246, 269 Federal Security Service (FSB), 130, 178, 193 Federal structure, evolution, 120 I Fedun, Leonid, 254 Illarionov, Andrei, 177 Fleming Family & Partners (FF&P), 80 IMF. See International Monetary Fund Forbes, ranking of Russian wealth, Impeksbank, 202 176, 247, 248, 276 Indonesia, 17 Formal vs informal approaches in Informal Corporate Governance Russia, 146 Practices (ICPG), 57 Fortescue, Stephen, 125 International Monetary Fund (IMF), Fradkov, Mikhail, 183, 187, 189 32–34 Fridman, Mikhail, 94, 101, 150, 155, Interrosa, 202 193, 202, 203, 228, 230, 243, IPO, 93, 95, 96 250 IPO, Rusal in Hong Kong, 94, 229 Friguia, 45, 92, 268 Ireland, 17, 80, 88, 92 Friguia Alumina, 79 Irkutsk, 53, 87, 122, 125, 126, 223, 226 Index 285

Irkutsk AZ, 79, 92 Krasnoyarsk AZ, 40, 42, 43, 55, 57, Irkutskenergo, 91 58, 67, 79, 92, 125 Krasnoyarsk, city, 84, 136 Krasnoyarskenergo, 61, 124 J Krasnoyarsk krai, 54, 58, 84, 119, Jamaica, 17, 33, 80, 87, 88, 266 123–127, 132, 133, 135, 136, Jamaica, Alpart, 92 213 Japan, 17, 20, 34, 264 Krysha, 59, 221, 222, 233, 249 Kubikenborg aluminium smelter, 80 Kudrin, Aleksei, 69, 189, 196, 201, 251 K Kakha Bendukidze, head of the Union of Machine-building Plants ;, 202 L \ Kandalaksha AZ, 79, 92 Lebed, Aleksander, 126, 127, 131, Karachinskii, Anatolii, 202 156 Kasianov, Mikhail, 173, 177, 183 Lebed, Aleksei, 131 Kemerov, 122 Lebedev, Platon, 149, 176 Kerimov, Suleiman, 217 Ledeneva, Alena, 146, 218 Khakas AZ, 79, 92 Legal issues, 179, 188 Khakassia, 122, 123, 227, 244 Legislation, 63, 71, 184, 274 Khan, German, 193 Leningrad region, 30, 122, 125, 228 Khloponin, Aleksandr, 132, 133 Liselyov, Oleg, 202 Khodorkovskii, Mikhail, 149, 155, Lisin, Vladimir, 202, 226 168, 176, 178 Livshits, Aleksandr, 237, 238 Kindia, 32, 87, 92 Loans for shares, 148, 158 Kindia and Friguia mines, 79 Lobbies, 63, 75, 251, 255 Kiriyenko, Sergei, 156 London, 19, 20, 42, 57, 59, 94, 98, Kiya-Shaltyrsk, 79 131, 221, 222, 233 Kogan, Vladimir, 202 London Court of International Komi, 44, 46, 82, 122 Arbitration (LCIA), 217 Korkunov, Andrei, President of Luzhkov, Yurii, 75 Odintsovo Confectionery, 203 Kostin, Andrei, 276 Kovalchuk, 221 M Kovalchuk, Yurii, 196, 276 Malevskii, Anton, 131, 232 Kozitisin, Andrei, General Director of Mandelson, Peter, 241 UGMK Holding, 203 Mechel, 149, 192, 193, 239 Krasnoyarsk, 6, 122, 124–127, 130, Media, 74, 126, 169, 175, 184, 224, 131, 133, 134, 139, 191, 229, 244 231, 269 Medvedev, Dmitrii, 7, 94, 149, 150, Krasnoyarsk Aluminium Plant, 61, 168, 187, 189, 198, 220, 226, 125, 127. See also KrAZ 230 286 Index

Medvedkov, Maksim, 70 167, 169, 172, 174, 175, 178, Meeting, and state offcials, 196 179, 181, 182, 184, 196, 201, Meeting, business community, 184, 219, 221, 222, 226, 242, 243, 187, 195, 196, 198, 200, 227 275 Mikhelson, Leonid, 254 and Russian politics, 59, 85, Miller, Aleksei, 220, 225 156 Millhouse Capital, 52, 64, 65, 215 attitudes towards, 157 Modernization, 41, 54, 61, 66, 168, defnition, 175 183, 195 under Putin, 183 Moldazhanova, Gulnara, 65, 102, 229 under Yeltsin, 157, 242 Mordashov, Aleksei, 188 wealth, 180, 242, 275 Motherhood, 214 Onexim, 93, 101, 112, 134, 217, 230, Murder, 58, 130, 177 236, 240, 264 Murychev, Alexander, 203 Opora Rossii, 203 Organized crime, and Russian aluminium sector, 40 N Osborne, George, 241 Nabiullina, Elvira, 105, 189, 200 Owners, 5, 17, 19, 29, 39, 40, 85, Nadvoitsk AZ, 79, 92, 102, 111 86, 94, 100, 101, 131, 136, 142, Naryshkin, Sergei, 196 153, 185, 192, 213, 228, 233, Networks, formal and informal, 218, 234, 240, 246, 247, 261, 262 219, 220, 221 Nezavisimaya Gazeta, 75, 156, 277 ranking of political infuence, 255 P ranking of top 100 political fgures, Parties, 18, 48, 59, 80, 146, 174, 178, 255 182, 189, 219, 222, 234, 235 Nigeria, 80, 90, 98 Patarkatsishvili, Badri, 169, 222 Nigeria, ALSCON, 91 Pavlovo Bus Plant, 215 Nikolaev alumina refnery, 80, 88, 215 Pavlovskii, Gleb, 179 NordStream, 103, 104 Petrovskii, Kiril, 60 Norilsk Nikel, 67, 93, 132, 134, 135, Pikalevo, 105, 150, 227, 228 216, 230, 262, 264 Pikalevo Alumina, 79 Norway, 17, 20, 51 Platonov, Valerii, general director of Novokuznetsk AZ, NKAZ, 79, 89, 92, Uraltrac, 203 102, 224, 233 Politbureau 2.0, 220 NTV TV Channel, x Political power of alumnium actors in Russian rankings, 141, 248 Popova, Anna, 271 O Portugal, 20 Offshore economy, 55, 56 Potanin, Vladimir, 100, 101, 134, Oligarchs, 5, 43, 59, 85, 101, 104, 155, 230, 243, 276 134, 142, 147, 154, 156, 158, Power generation, 12, 58, 222 Index 287

Presidential Commissioner for Regional dimension of bauxite produc- Entrepreneurs’ Rights, 198 tion in Russia, 121, 122 Primakov, Yevgenii, 75, 129, 145, 156 Regional elite, 73, 172, 174 Privatization, 4, 6, 39, 40, 46, 58, Reiderstvo, raiding, 142, 218 121, 125, 127, 141, 148, 153, Relations, 2, 5, 57, 101, 104, 106, 158, 159, 177–179, 182, 184, 119, 129, 140, 142, 144, 146, 185, 188, 196, 212, 213, 229, 147, 152, 153, 157, 168–170, 240, 241, 244, 246 172, 177, 178, 183–187, 191– Privatization in aluminium sector, 4 194, 196, 199, 201, 212, 218, Proft, proftability, 23, 52, 67, 68, 224–226, 229, 230, 235, 236, 83, 84 242, 245, 247, 251, 261 Prokhorov, Mikhail, 93, 101, 134, Relations, horizontal, 230 214, 216, 217, 225, 230, 264 Relations, vertical, 212 Public opinion, 159, 181, 197, 219 Renessance Group, 52 Public opinion on privatization, 159 Resource rent, 182 Public relations (PR), 56, 126, 219, Reuben brothers, traders, 38. See also 228, 241–243, 245, 246, 271 TWG Pugachev, Sergei, 202 Rosaluminproduct, company of the Pugin, Nikolai, 202 young Oleg Deripaska, 215 Pussy Riot case, 104 Rostar, 43, 215 Putin, Vladimir, 1, 5, 7, 46, 59, 103, Rotenberg, Arkadii, 276 120, 141, 147, 149, 150, 154, Rotenberg, Boris, 221 167, 170, 172–174, 190, 197, Rotenberg brothers, 220, 221 198, 200, 225, 228, 240, 248 Rothschild, Nathaniel, 94 Putin, Vladimir, career, 103 Rusal, 32, 39, 45, 48, 52, 54, 59–63, 65, 66, 68, 74, 76, 79–84, 86, 94, 96–102, 109, 131–133, 135, Q 140, 142, 144, 177, 215, 217, Queensland Alumina, 79 222–224, 232–234, 236, 237, 239–241, 263, 264, 268, 270 Russian Chamber of Commerce and R Industry, 75, 145, 149 Ranking of economic power, 248 Russian Union of Industrialists and Ranking of political power, 212, 247, Entrepreneurs (RSPP), 151, 177, 248 198, 200, 216 RAO UES, 46, 48, 54, 59, 66, 124, Rybovlev, Dmitrii, 254 222, 223, 225 Rashnikov, Viktor, 254 Regional dimension of alumina pro- S duction in Russia, 122 Sakwa, Richard, 146 Regional dimension of aluminium Samara, 56, 74 production in Russia, 121 288 Index

Samara Metallurgical Company, meetings, 146, 168, 187, 188, 191, SAMEKO, 56 196, 200 Sankt Petersburg, St Petersburg, 202 under Putin, 167 Sayanal, 56 under Yeltsin, 139 Sayanogorsk, 67, 215 State Duma, 58, 63, 87, 120, 130, Sayano-Shushensk Hydroelectric Plant 135, 154, 159, 171, 173, 178, (SShHP), 58 181, 182, 189, 191, 235, 242 Sayansk AZ, 42, 43, 54–56, 58, 67, State monopolies, 58, 274 79, 92 Stoligarchs, defnition, 276 Sayansk folga, 43 Strategic Initiatives Agency Sberbank, 101, 270 Supervisory Board, 151, 204 Sechin, Igor, 193, 196, 276 Strategic reasons for location of alu- Semibankershchina, seven bankers, minium industry in the USSR, 3 148 SUAL, 45, 46, 52, 53, 59, 60, 64, 67, Severo-Uralsk Boksit, 80 68, 79–84, 215–218, 230, 236, Shabanov, Sergei, 203 240, 241, 263, 264 Shoigu, Sergei, 220 Suriname, 17 Shokhin, Aleksander, 145, 150, 151, Surkov, Vladislav, 172, 187, 195, 196 188, 200, 203, 204 Sverdlovsk, 44, 103, 122, 125 Shuvalov, Igor, 197, 220 Switzerland, 20 Shvidler, Yevgenii, 202 Sibal, 42, 43, 52, 54–57, 59, 60, 130, 222, 224, 263. See also Sibirskii T Alyuminii Taimyr okrug, 132, 135 Sibneft, 39, 43, 52, 54, 55, 57, 59, Tajikistan, 82, 227 64, 85, 177, 178, 181, 213, 222, Tatarenkov, Vladimir, 231 263 Taxes, taxation, 55, 63, 188, 192, 274 Siloviki, 156, 177, 182, 231 Timchenko, Gennadii, 196, 276 Sirazutdinov, Gennadii, 217 Titov, Boris, 150, 198, 235 Skvortsova, Veronica, Russian Minister TNK-BP, 192, 216, 236 of Health, 269 Tokarev, Valerii, 217 Sobchak, Anatolii, 170. See also Tolling, 19, 38, 39, 42, 55, 64, 68, Sobchak–Putin relations 126, 263 Sobyanin, Sergei, 196 ban on, 63, 65 Soloviov, Vladislav, 83, 95, 237, 238 internal, 245 Soskovets, Oleg, 54, 57, 221, 250 Tosunian, Garegin, president of the South Korea, 20, 264, 270 Association of Russian Banks, 203 Soviet aluminium industry, history, Transport costs, 3, 15, 32, 62, 91, 31, 33 109, 272 Sredne Timanski Boksit, 80 Treisman, Daniel, 153, 157, 158, 220 Stanovaya, Tatyana, 195 Turkey, 20, 201 State and business Index 289

U V UC Rusal, 12, 18, 20, 21, 79, 86–99, Vekselberg, Viktor, 80, 93, 101, 112, 101–104, 106, 107, 109–111, 141, 193, 195, 202, 213, 214, 216–219, 230, 236, 237, 240, 216, 224, 228, 230, 236, 240, 246, 264, 266, 267, 269, 271, 241, 248–250, 253, 276 272 Violence, 140 board of directors, 236, 238 Vnesheconombank VEB, 93, 94, 216, Board of Directors, composition and 236, 244 evolution, 238 Volgograd, 87, 122 economic results, 86, 90, 111 Volgograd AZ, 79, 92, 111 depth, 103 Volkhov AZ, 79, 92, 102, 111 foreign assets, 264, 267 Volodin, Vyacheslav, 221 formation, 223 Voloshin, Aleksander, 75, 173, 181, IPO, 94, 232 183 management, 90, 112 Volskii, Arkadii, 177, 202 owners, 91, 95, 101, 218, 266 Vyakhirev, Rem, 169, 202 ownership structure, 236 Vympelcom, 202 Ukraine, 20, 30, 43, 45, 59, 80, 87–89, 92, 106, 151, 152, 168, 193, 199, 201, 216, 245, 264 W Ukraine, crisis 2014, 183 Warnig, Matthias, 103–105, 240 Ulyanovsk, 74 Wealth, 158, 159, 175, 180, 211, 212, Union of Rightist Forces, 173 242, 248, 252–254, 275 United Russia, 130, 135, 189 Windalco refneries and bauxite mines, Ural Alumina, 79, 88 80 Ural AZ, 79 World Trade Organisation (WTO), USA, 12, 13, 17, 20, 23, 32, 34, 47, 69–76 51, 52, 60, 62, 105, 140, 197, WTO, Russian membership in, discus- 232, 233, 238, 240, 242 sion on, 71 USA, aluminium imports, 32 USA, aluminium production, 14 Usmanov, Alisher, 196, 220 Y Uss, Aleksandr, 129, 132, 133 Yeltsin, Boris, 4, 54, 120, 128, 147, USSR, 3, 17, 18, 30–36, 216. See also 148, 156, 170, 172 Soviet Union Yukos, 65, 85, 149, 155, 168, aluminium industry, 3 176–178, 180–182, 184–187, export of alumnium, 34, 36 201, 211, 243, 247 import of aluminium, 30, 32 Yukos case, 149, 176, 178–180, 184, Ustenko, Oleg, 75 187, 188, 211, 241 Yumasheva, Polina. See Deripaska, Polina 290 Index

Yumashev, Valentin, 221, 225, 250 Zaporozhye, Zaporozhskiy, 87, 92, Yuryev, Evgenii, 203 264 Zhivilo, Mikhail, 140 Zimin, Dmitrii, 202 Z Zubkov, Viktor, 189, 220 Zaostrovtsev, Yurii, 179 Zyuzin, Igor, 193 Zapol,Yurii, 202