Russian government's rules on duties and CBK Baikal meet with criticism

摘要

The latest developments in the Russian paper industry are making waves. Experts are observing the actions of the Russian government and evaluating its role as a stakeholder in the pulp and paper industry. For instance, critics feel that the looming reduction in import duties on coated paper and the approval of plans to reopen a pulp mill in the Lake Baikal nature reserve are motivated less by economic factors. Instead some insiders deem these actions to be a blow for Investlesprom and a boost for the operator of CBK Baikal. Major organisations stand behind both companies: CBK Baikal is owned by Continental Management, which is managed by business magnate Oleg Deripaska. Investlesprom is backed by the Bank of Moscow, which is majority owned by the City of Moscow via several shareholders. Moscow's Mayor, Yury Luzhkov, is known as not always being pro-Kremlin.