The third oligarch

Synopsis

Richard discusses the ongoing conflict between oligarchs Oleg Deripaska and Vladimir Potanin over control of Norilsk Nickel, a major Russian nickel producer. Deripaska's company, Rusal, acquired a 25% stake in Norilsk Nickel in 2008 for $14 billion, which has led to significant debt issues for Rusal. Potanin, who runs Interros, holds a 28% stake in the company. The two have a contentious relationship, with disputes over dividends and ownership. Recently, Roman Abramovich, owner of Chelsea Football Club, purchased a 7% stake in Norilsk Nickel, which is seen as a potential way to mediate the conflict. However, Richard questions whether Abramovich's involvement can truly resolve the tensions, noting the complexities of the three-way shareholder agreement that now includes him.