OREA, Mordashov, Nordgold, Montagne d'Or and EU sanctionsIf you’re a long term OREA shareholder you can immediately think of one asset that France already has belonging to Mordashov and right in their own backyard. He already wants the French court to give him (sorry Nordgold or their subsiduaries, regardless, it ends up in his pocket) in the region of US 500 mill damages, now they can get it for zero!
Surely the courts won’t allow this? Really? Remember, it is the French court and the gov’ can tie it up there for years if Mordashov does not walk away having already expropriated it!
We now live in an ongoing era of anti-Russian sentiment and the French election highlighted environmentalists causes. Nordgold is 99% owned by Mordashov and family. No other shareholders will be hurt in such a move unlike several of his other identified ventures. However, he is most likely to walk away with tax losses to claim.
In fact, OREA better hope this happens as they may be the only benefactor from Montagne d’Or and potential French largesse.
Alexei Mordashov: Russia’s richest man is now an EU sanctions target https://www.theguardian.com/news/2022/mar/02/alexei-mordashov-russias-richest-man-is-now-an-eu-sanctions-target …The EU has outlined various concerns about Mordashov: it claims that Rossiya Bank, in which he has a financial interest, is the “personal bank” of senior Russian officials who have benefited from the annexation of Crimea. The bloc also said it believes media businesses he is invested in had helped destabilise
Ukraine through pro-Russian television stations…
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