Rosugol
Rosugol (Russian: Росуголь) was a state-owned coal producer in Russia. It controlled 232 mines, 65 open-cast mines and 68 coal preparation plants.[1] In 1995, it was the fourth largest company in the country by revenue.[2] Yuri Malyshev was the company's chairman.
Rosugol was established in March 1993 by the Russian government.[3] Created as a successor to the Soviet Ministry of Coal Industry, it retained many of its functions.[4] It operated as a national coal monopoly, and its functions included allocating subsidies to mines.[5] As part of the country's transition to a market economy, Rosugol classified mining operation based on their economic viability.[5] Those deemed unlikely to survive market conditions were closed down, with miners being relocated to other regions.[6]
In 1994, the Russian government allocated $2.8 billion on direct subsidies to the sector through Rosugol, or more than 1% of the country's GDP.[5] Part of the support came from the World Bank. In July 1997, the World Bank postponed a $500 million loan to the coal sector, citing a misuse of fund given to Rosugol.[7] Under pressure from the bank, President Yeltsin abolished the state-owned company in November 1997.[8] Its administrative functions were transferred to the Ministry of Fuel and Energy.[9]
References[edit]
- ^ Country Analysis Briefs: 1994: Profiles of Major World Energy Producers, Consumers, and Transport Centers. DIANE Publishing. 1995. p. 62. ISBN 9780788125003.
- ^ "Рейтинг крупнейших компаний России по объему реализации продукции". raexpert.ru. Retrieved 29 June 2019.
- ^ Klein, Lawrence R.; Pomer, Marshall I. (2001). The New Russia: Transition Gone Awry. Stanford University Press. p. 354. ISBN 9780804741651.
- ^ Sim, L. (2008). The Rise and Fall of Privatization in the Russian Oil Industry. Springer. p. 182. ISBN 9780230594760.
- ^ a b c Lovei, Laszlo; McKechnie, Alastair. "The Costs of Corruption for the Poor—The Energy Sector" (PDF). World Bank Group. Retrieved 29 June 2019.
- ^ Stevenson, Richard W. (29 October 1994). "Russian Miners Become Victims Of Upheaval They Helped Start". The New York Times. Retrieved 29 June 2019.
- ^ Work Without Wages: Russia's Nonpayment Crisis. MIT Press. 2 January 2001. pp. 122–127. ISBN 9780262262361.
- ^ Baker, Stephanie (April 9, 1998). "Russia: World Bank Loans To Reform Coal Industry". RadioFreeEurope/RadioLiberty. Retrieved 29 June 2019.
- ^ Center, International Trade Law; Appleton, Arthur E.; Plummer, Michael G. (2007). The World Trade Organization: Legal, Economic and Political Analysis. Springer Science & Business Media. p. 309. ISBN 9780387226880.