Two Russian IPOs have been cancelled this week – ChelPipe
and Severstal’s unit Nord Gold
both postponed in London; both cite market conditions. Bloomberg
speculates as to whether the two would find better conditions in the bond market. Reports say that the US will revoke its duty
on magnesium imports from Russia. Vladimir Morozov, the CEO of Moskonversprom, accused a Kremlin official of corruption in 2009, leading to a case but no charges; the company has subsequently been hit
with a $4.6 million unpaid tax bill.