Former Director of the foreign intelligence Service (SVR) Mikhail Fradkov dismissed in September, is unlikely to occupy the position of Chairman of the Board of Directors of Russian Railways. About it the newspaper “Vedomosti” said two sources close to the management of Russian Railways and the Russian export centre, which is headed by Mikhail Fradkov’s son Pyotr.

The appointment of Mikhail Fradkov, announced almost a month ago, press Secretary of Russian President Dmitry Peskov, could stop what the former head of the SVR 2014 is in the sanctions list of the EU, the article says.

As explained by the source publication, the Railways feared that if Fradkov will become Chairman of the Board of Directors, the holders of notes of the Corporation would require early repayment on the securities. “Railways have no money, this is the default,” – said one of interlocutors of “Vedomosti”.

Russian President Vladimir Putin dismissed Mikhail Fradkov from the office of Director of the SVR at the end of September in connection with retirement. He was replaced by former speaker of the state Duma Sergey Naryshkin. At the same time, Dmitry Peskov, said that in the near future, Fradkov “will be nominated Chairman of the Board of Directors of Russian Railways”.

Press Secretary of the President, representatives of Russian Railways and the office of the Deputy Prime Minister Arkady Dvorkovich, who is currently Chairman of the Board of Directors, not telling “Vedomosti” has come Fradkov to the Corporation. The representative of the Federal property management Agency has not responded to the request of the newspaper.

At the same time close to the Railways employees said that the change in the company should not wait – Oleg Belozerov will remain its President, and Dvorkovich is Chairman of the Board of Directors.

Fradkov was included in the black list of the EU in July 2014 in connection with introduction of sanctions against Russia because of the country’s position on the Ukrainian crisis and the annexation of Crimea. Just under the sanctions were 87 physical and 20 legal persons. All persons involved in the list of banned entry to the EU and their assets in case of detection in European banks should be frozen. European businesses are prohibited from doing business with appearing in the list of legal entities.

At the same time in the Railways do not expect that the company may be subject to any sanctions imposed Fradkov, if he becomes Chairman of the Board of Directors. This is stated in the prospectus of Eurobonds of the October Railways. Experts remind that earlier the President of Russian Railways Vladimir Yakunin, who was also under sanctions. And it does not affect the operation of the Railways.

“Vedomosti” has linked the delay in the appointment of Fradkov in the Railways with the sanctions list of the EU 18.10.2016

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