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Putins Former Supervisor Mines a Fortune in Shares

Published: April 6, 2011 (Issue # 1650)



  • Vladimir Litvinenko, rector of the St. Petersburg Mining Institute, is worth an estimated $350 million to $450 million.
    Photo: Vedomosti

Vladimir Litvinenko is awell-connected man.

Therector ofthe St. Petersburg Mining Institute oversaw Vladimir Putins dissertation, which in1996 earned thecurrent prime minister adoctorate ineconomics.

Last year, Litvinenko became chairman ofthe board ofPhosAgro, thecountrys largest producer ofphosphate-based fertilizers.

Now he is amultimillionaire, worth anestimated $350 million to$450 million after aninvestor prospectus filed byPhosAgro last week showed he holds 5 percent ofthe companys shares.

Thefortune is raising eyebrows because Litvinenko, who has headed thestate mining institute since 1994, was not previously known as abusinessman. Litvinenkos apparently rapid rise toriches speaks volumes ina country where who you know can be as important as what you know if not more so.

Litvinenko seems toowe his luck tobeing theright man inthe right place atthe right time.

He is anexpert inthat sector, andhe has direct links with Vladimir Putin what more can you ask for? said Georgy Ivanin, asenior analyst with Alfa Bank.

Asked how Litvinenko became ashareholder, PhosAgro spokesman Timur Belov said bytelephone that thecompany has apolicy ofnot commenting onits shareholders beyond what is published officially.

Themining institute did not reply towritten questions sent toLitvinenkos office last week. One ofhis aides, who identified himself only byhis first name andpatronymic, Viktor Mikhailovich, said bytelephone that theinstitutes press service would look intothe questions.

Litvinenko has proved his political allegiance toPutin more than once. In2000 and2004, he headed theSt. Petersburg campaign team forPutins election as president.

His role insupervising Putins doctorate has been questioned since 2006, when Clifford Gaddy, ascholar atthe Brookings Institution inWashington, demonstrated that key parts ofthe dissertation, which discusses resources planning inSt. Petersburg andthe neighboring Leningrad Oblast, appeared tohave been plagiarized froma 1978 U.S. business school textbook.

Litvinenko has denied theallegations ofplagiarism, andPutins spokesman Dmitry Peskov told TheSt. Petersburg Times that they were slanderous.

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ALL ABOUT TOWN

Thursday, Oct. 30


Dental-Expo St. Petersburg 2014 concludes today at Lenexpo. Welcoming specialists from throughout the federation, the forum is an opportunity for dentists to share tricks of the trade and peruse the most recent innovations in technology and equipment, with over 100 companies hocking their wares at the event.



Friday, Oct. 31


Put your grammar and logical thinking to the test in a fun and friendly environment during the British Book Centers Board Game Evening starting at 5 p.m. today. The event is free and all are welcome to attend.



Saturday, Nov. 1


The men and women who dedicate their lives to fitness get their chance to compete for the title of best body in Russia at todays Grand Prix Fitness House PRO, the nations premier bodybuilding competition. Not only will men and women be competing for thousands of dollars in prizes and a trip to represent their nation at Mr. Olympia but sporting goods and nutritional supplements will also be available for sale. Learn more about the culture of the Indian subcontinent during Diwali, the annual festival of lights that will be celebrated in St. Petersburg this weekend at the Culture Palace on Tambovskaya Ul. For 100 rubles ($2.40), festival-goers listen to Indian music, try on traditional Indian outfits and sample dishes highlighting the culinary diversity of the billion-plus people in the South Asian superpower.



Sunday, Nov. 2


Check out the latest video and interactive games at the Gaming Festival at the Mayakovsky Library ending today. Meet with the developers of the popular and learn more about their work, or learn how to play one of their creations with the opportunity to ask the creators themselves about the exact rules.



Monday, Nov. 3


Non-athletes can get feed their need for competition without breaking a sweat at the Rock-Paper-Scissors tournament this evening at the Cube Bar at Lomonosova 1. Referees will judge the validity of each matchup award points to winners while the citys elite fight for the chance to be called the best of the best. Those hoping to play must arrange a team beforehand and pay 200 rubles ($4.80) to enter.



Tuesday, Nov. 4


Attend the premiere of Canadian director Xavier Dolans latest film Mommy at the Avrora theater this evening. The fifth picture from the 25-year-old, it is the story of an unruly teenager but the most alluring (or unappealing) aspect is the way the film was shot: in a 1:1 format that is more reminiscent of Instagram videos than cinematic art. Tickets cost 400 rubles ($9.60) and snacks and drinks will be available.



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