Member Info for leedskier

hmm RTS down;LSE down (which is said to be because of concerns about US sub-prime market); if the Dow falls further overnight...who knows what tomorrow will bring!

Shall we let events and the market decide the issue...hindsight is usually the best guide

Good to know someone at last has had the courage to mark this share a "strong buy") If the snip from Rian.ru from the Energy Minister (which I posted yesterday)is accurate...and that news source is generally hot...IEC should come out of all of this stronger. Any attempt to force a partnership with Rosneft under the threat of license revocation of a small UK oil company's investment in Tomsk (where the climate is inhospitable for much of the year and unemployment is high)would be bad PR for encouraging much needed inward investment and expertise.

I guess someone else believes someday soon the sp will nudge up )

"[Foreign Minister Sergei] Lavrov's deputy spoke in his place because Russia's reaction was too weak," Communist State Duma Deputy Viktor Ilyukhin said Tuesday. "Lavrov would have been uncomfortable coming out with this meaningless declaration." Ilyukhin added that Russia had already fallen out with too many countries recently, including Moldova, the Baltic states and Georgia. "It would be unfavorable for Russia to quarrel with even more countries." Vladimir Ryzhkov, an independent State Duma deputy and Foreign Affairs Committee member, said Tuesday that Russia was in an awkward position. "It's evident that Britain has serious proof of Lugovoi's guilt, so it looks like Russia is covering up for a murderer," Ryzhkov said. "That's why Russia doesn't feel comfortable making harsh declarations. Russia's reaction is proper and should contribute to reducing tensions."

Political concern weighed on investors for a second day after Britain expelled Russian diplomats in response to the country's refusal to extradite a former spy and murder suspect. Diplomacy ``I wouldn't completely sweep the diplomatic dispute under the rug,'' said Michael Teagarden, a sales trader at UBS AG in Moscow.

The Russian stock exchange continues to fall too. My understanding from well placed sources is that this, at least in part, reflects their concern at the downturn in Russia/UK relations. While Russia maybe unconcerned about hurting UK investors, it will not wish to hurt their own. An interesting fact is that 80% all the wealth in Russia (from whatever source) is "cared for" in Moscow. Quite how the money tree is shaken in Moscow is a story for another day ).

From commercial partner in a Leeds firm of solitors to highly successful businessman in 15 years. I knew about Severfield. If we had ploued all our money into that one back in January we would be smiling today.

before it climbs back to 1180+ and hopefully beyond

has just said...it will not affect commerce...Russia anxious to improve it...

whether your advise was wise...Dasvidaniya

political point...there maybe other forums better suited for that...but meanwhile there are serious investors at work here.

I wonder why you hold shares in a Russian Oil Company, the Chairman of which has a Russian mother, a Russian wife and is Chairman of another very successful company in Russia?

cause concern, they would have said..."We are reviewing the extent to which the diplomatic difficulties will affect our ability to enter into commercial arrangements with the Uk " However the Senior Minster was at pains to make clear that Imperial Energy, Shell and BP were valued partners with Russia.

but in fact you do not need a visa to go there...

In fact to the contray; this will likely ensure that there are no such difficulties in case they are viewed as an enlarging of a diplomatic issue into a commercial one...but I only have 7 Russian visas in my passport ))

I think you should read my post a few minutes ago

MOSCOW, July 17 (RIA Novosti) - The Russian Natural Resources Minister said Tuesday his ministry would keep investment agreements with British companies intact despite recent actions by the British authorities. Britain announced they would be expelling four Russian diplomats and restricting the issue of visas for Russian officials following Moscow's refusal to extradite businessman Andrei Lugovoi, who is accused of the murder of Alexander Litvinenko. "I do not think it will be necessary to impose any sanctions that could affect the investment climate, because it is very expensive, in Britain also," Yury Trutnev said. Oil companies Imperial Energy, British Petroleum (ÂÐ) and Shell are amongst Russia' largest British partners.

A view seemingly shared by the high value buys late today. Russia needs the London Stock Exchange more than the Stock Exchange needs Russia. Otherwise it will have to throw itself to the tender mercies of the New York Stock Exchange (no admirer of Putin's style of Govt)if its companies wish to raise foreign capital.

There is an old Chinese curse "May one always live in interesting times". The Moscow Times fleshes out the news wire.