Meiji Japan and post-Soviet Russia · TURNING POINT ·
Norilsk Nickel loans-for-shares auction (1995)
On the Meiji Japan and post-Soviet Russia map as “Norilsk Nickel”
Nov 1995 — Vladimir Potanin’s Oneximbank took control of the world’s largest nickel producer for $170.1 million, barely above the starting price. The bank had itself organized the “loans-for-shares” auction it won. The state never repaid the loans, and the banks kept the shares.
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- Turning point
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- Oligarchs and the First Chechen War (chapter 11 of Meiji Japan and post-Soviet Russia)
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- Remaking the State: Meiji Japan 1600–1912 and Post-Soviet Russia 1964–2000
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