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18-Aug-2020 05:00

Sauer’s business career has been less transparent and accountable than Prokhorov’s.

Sauer claims to have started by selling his house in Holland to raise the money for a publishing venture in Moscow in 1991.

Presidential candidate Mikhail Prokhorov (right) talks with Russian Prime Minister Vladimir Putin during their meeting in Moscow on March 5, 2012.

International monitors said Monday Russia's presidential election was clearly skewed to favor Putin, a verdict that could spur protesters planning to take to the streets to challenge his right to rule.

Russian billionaire Mikhail Prokhorov caused a stir among sports fans this week with news that he might sell his majority stake in the Brooklyn Nets basketball franchise.

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More criminal charges have been foreshadowed; Onexim, Sauer, and RBC executives deny them categorically.

In short, Prokhorov has been on a long losing streak in Moscow, as his Russian enterprises have been costing, not earning him money.

His Brooklyn Nets basketball team has also been on a losing streak, but we’ll come to that in a moment. In Moscow Prokhorov has been trying to get out of his debt hole for months, but the Kremlin – according to the source close to him – has not been as accommodating or as generous as Prokhorov has wanted or expected.

He and other wealthy Russians are suddenly pulling back on U. investments of all kinds, and the causes are not all financial. market,” Sergei Millian, President of the Russian-American Chamber of Commerce, said.“I strongly believe this might be because of the political situation within the Russian Federation,” he said, alluding to possible pressure from the Kremlin.

Russia’s struggling ruble and contracting economy are certainly contributing factors, but insiders say political concerns are also spurring the investment retreat.“We work with a lot of Russian companies and this seems to be a common story. “There may have been some informal instructions from top government officials to be very careful about investing in the United States.” U. President Barack Obama and European allies have been increasing sanctions against Russian companies, banks and business leaders in response to Russia's continued aggression in Ukraine. sanctions that have cut off a lot of banks from creditors in the West, is forcing people to rethink their position in terms of which businesses to keep versus businesses of which to divest themselves.”But Millian thinks it’s something more than currency problems.

The version from VNU, a Dutch multimedia publisher, was that it had employed Sauer in 1989 and sent him to Moscow to establish a magazine that failed to take off.