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On Russia's Federal Customs Service $22.5B suit against the Bank of New York

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  • #46
    Re: On Russia's Federal Customs Service $22.5B suit against the Bank of New York

    Originally posted by bill View Post
    Looks like the world is getting divided up to me, first the Putin/Bush Sr. meeting at the Bush home in Maine and now we have the murderer Kissinger having a meeting at Putin's home in Moscow.

    Kissinger-led U.S. group attends closed debate at Putin home

    NOVO-OGARYOVO (Moscow Region), July 13 (RIA Novosti) - A group of Russian and U.S. dignitaries gathered Friday at the presidential residence near Moscow behind closed doors in a bid to repair shattered ties.

    The panel called "Russia-USA: A Look Into the Future," led by former U.S. Secretary of State Henry A. Kissinger and former Russian Prime Minister Yevgeny Primakov, declined to comment on the first Moscow session, but said it was a successful beginning to a series of high-level meetings.

    "We discussed many issues. Our goal was not to get media coverage, score public relations points, or press home any propaganda messages. We came here to solve problems," Primakov said.

    "We agreed to hold the next meeting in mid-December in Washington, D.C.," where the panelists will meet with President George W. Bush, he added.

    Kissinger thanked Putin for his hospitality and praised the Russian leader for his realistic and open approach.

    "We appreciate the time that President Putin gave us and the frank manner in which he explained his point of view," he said.

    When asked whether U.S. unilateral interventionism was on the agenda, Kissinger said that "nuclear proliferation" and "nuclear threats," rather than U.S. policies, are the biggest danger to world peace.

    "I do not think that U.S. expansion is a problem of the period. The problem of the period is how to avoid nuclear conflict and in this case we believe that Russia and America should have common objectives."

    Addressing the panel's first meeting, Putin thanked its participants for their quick response to the idea to set up such a high-level group, first aired during his April meeting with Kissinger and Primakov, and urged them to keep the debate as close to the ground as possible.

    "Your findings should not be brought to our foreign ministries to gather dust there. They should be treated as something of practical use," he said.

    He stressed that the idea was to set up a broad panel that would be open-minded when discussing issues.

    "We cannot afford having a Russia-U.S. relationship that depends on the current political situation inside both our countries. We cannot allow our relationship to serve such narrow issues, as, for example, election campaigns in Russia or the U.S.," Putin said.

    Apart from Kissinger, the U.S. team includes former Secretary of State George Schultz; former Treasury Secretary Robert Rubin; former Special Representative for Arms Control, Nonproliferation and Disarmament Ambassador Thomas Graham, Jr.; former Senator Sam Nunn; and Chevron Chairman and Chief Executive Officer David O'Reilly.

    Apart from Primakov, the Russian team includes Foreign Minister Sergei Lavrov; former Ambassador to the U.S. Yuly Vorontsov; Deputy Board Chairman of UES Russia Leonid Drachevsky; UC Rusal Deputy Chief Executive Officer Alexander Livshits, and former Soviet Armed Forces Chief of Staff Mikhail Moiseyev.

    http://www.iraq-war.ru/article/134810

    Who knows, maybe they're creating a new Bretton Woods arrangement that would bring parity to some regional currencies. The world would be a better place if that's what the discussion was about. With Kissinger, Rubin and Schultz involved I won't be holding my breath on there being a positive outcome for the world with this meeting. Russian's have been countering US/UK military build-ups on the cheap so far and have been countering them very effectively. Missile Shields, multi-colored revolutions and the invasion of old Soviet Allies. The military build-up to keep an eye on is India, China and South America all of whom are buying Russian up-grades for their military.
    "Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."
    - Charles Mackay

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    • #47
      Re: On Russia's Federal Customs Service $22.5B suit against the Bank of New York

      Originally posted by bill View Post
      I said a “reliable source” I don’t think the Nations and regions you refer to are a political stable source for resource development as per their track records reflect.
      I do believe the Chinese have been scouring the globe with little success as I pointed out in my post here.http://www.itulip.com/forums/showthr...=9625#post9625
      http://www.bloomberg.com/apps/news?p...d=a53eHLmelsNk

      Sept. 7 (Bloomberg) -- Australia, the world's second-biggest uranium exporter, will allow companies including BHP Billiton Ltd. to sell the nuclear fuel to Russia, a day after signing a deal to supply natural gas to China.
      ``Perhaps it is that the Russians really do not believe in the possibility of long-term stability in Kazakhstan.''
      Japan's FTA should be complete with Australia soon.

      http://asia.news.yahoo.com/070905/3/37fm5.html

      Japan, Australia to sign nuclear power pact - report

      TOKYO (Reuters) - Japan is set to sign a deal with Australia to secure stable uranium supplies for civilian nuclear energy use, Kyodo news agency said, as Tokyo scrambles for resources amid competition from markets such as China.

      The deal, to be agreed on when Japanese Prime Minister Shinzo Abe meets his Australian counterpart John Howard at a weekend Asia-Pacific leaders' meeting in Sydney, will confirm that peaceful use of nuclear energy would benefit both countries. Australia is also believed to be seeking Japan's cooperation in building and operating nuclear power plants in the future, Kyodo added in a report on Tuesday.
      Resource Theater in action:http://www.itulip.com/forums/showthr...0041#post10041
      Last edited by bill; September 07, 2007, 10:43 AM.

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      • #48
        Re: On Russia's Federal Customs Service $22.5B suit against the Bank of New York

        Renewed Fears Send BoNY Stock Falling - Bloomberg

        Bank of New York Mellon, the largest custodian of financial assets, fell 4.8 percent Wednesday on concerns that the government will succeed with its $22.5 billion money-laundering suit against the company.

        The Federal Customs Service sued the New York-based bank May 17 in Moscow Arbitration Court, accusing it of helping illegally transfer $7 billion out of the country in the 1990s. In a March 27 report, Richard Bove, who covers the company for New York-based Punk Ziegel, said U.S. and European Union courts might enforce any ruling made in Russia.

        Lawyers representing Russia issued a statement Monday after the close of U.S. trading, citing Bove's report as evidence that there is a "consensus building among analysts and legal experts" that the suit will stand up in courts outside the country.

        The lawyers said they were confident that "Russia will be able to obtain court orders seizing billions of dollars of the bank's worldwide assets" to satisfy the suit's claim of $22.5 billion in damages to the state, including unpaid customs duties.

        [..]

        Jonathan Schiller, a Washington-based lawyer with Boies, Schiller & Flexner who represents the bank, called the Russian claim "completely invalid."


        "A judgment against Bank of New York in this case would not be enforceable under the centuries-old Revenue Rule, which prevents enforcement in the United States (and many other countries) of a judgment for damages based on alleged unpaid taxes under foreign tax laws, as well as for other reasons," Schiller said in an e-mail.
        The Punk Ziegel website is unfortunately offline. Google cache from April 3rd

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        • #49
          Re: On Russia's Federal Customs Service $22.5B suit against the Bank of New York

          "A judgment against Bank of New York in this case would not be enforceable under the centuries-old Revenue Rule, which prevents enforcement in the United States (and many other countries) of a judgment for damages based on alleged unpaid taxes under foreign tax laws, as well as for other reasons," Schiller said in an e-mail."
          what's this, a get out of jail free card?

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