Tuesday, 05 April 2005

PETROKAZAKHSTAN DIRECTORS FACE MONOPOLY CHARGES

Published in News Digest

By empty (4/5/2005 issue of the CACI Analyst)

Rustam Ibraimov, deputy head of Kazakhstan\'s Agency for Fighting Economic Crimes and Corruption, told a press conference in Astana on 4 April that Thomas Dvorak, a U.S. citizen who is president of PetroKazakhstan, and Clayton Clift, a Canadian citizen who is the company\'s chief financial officer, face charges of violating Kazakhstan\'s antimonopoly legislation, \"Kazakhstan Today\" reported.
Rustam Ibraimov, deputy head of Kazakhstan\'s Agency for Fighting Economic Crimes and Corruption, told a press conference in Astana on 4 April that Thomas Dvorak, a U.S. citizen who is president of PetroKazakhstan, and Clayton Clift, a Canadian citizen who is the company\'s chief financial officer, face charges of violating Kazakhstan\'s antimonopoly legislation, \"Kazakhstan Today\" reported. Ibraimov alleged the company sold oil at inflated prices. For the period from 1 July 2003 to 30 October 2003, the company owes the Kazakh budget more than 13 billion tenges ($98.4 million). According to Ibraimov, Clift is currently in Kazakhstan and has given written assurances that he will not leave the country; Dvorak is abroad, but will return to Kazakhstan to testify in late April. In a 4 April press release posted to the company\'s website (http://www.petrokazakhstan.com/), PetroKazakhstan stated that the price ceilings it is alleged to have violated \"represent a violation of the company\'s rights under the privatization agreements relating to the Shymkent refinery.\" The company said \"the initiation of criminal investigations and charges in relation to these issues is an unfortunate and unnecessary escalation in what is essentially a civil dispute.\" (RFE/RL)
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The Central Asia-Caucasus Analyst is a biweekly publication of the Central Asia-Caucasus Institute & Silk Road Studies Program, a Joint Transatlantic Research and Policy Center affiliated with the American Foreign Policy Council, Washington DC., and the Institute for Security and Development Policy, Stockholm. For 15 years, the Analyst has brought cutting edge analysis of the region geared toward a practitioner audience.

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