Outside of its current shareholders, no one is exactly sure. RosUkrEnergo is a Swiss-registered company, formed in the aftermath of the Kremlin's cut off of the Ukrainian gas supply in January, that is now supposed to be the guarantor of Ukraine's gas supply -- and make billions and billions doing so. But who will get these billions is a good question. Bruce Jackson, who heads The Project on Transitional Democracies, believes the money belongs to "the people of the Ukraine" and wants to make sure that happens.
FOR IMMEDIATE RELEASE
Thursday, February 09, 2006
Project on Transitional Democracies Announces Bid for RosUkrEnergo
Washington, DC. At 9:30am this morning, The Project on Transitional Democracies announced a bid for the shares of RosUkrEnergo held by Ukrainian investors. RosUkrEnergo is a Swiss-based joint venture between Ukraine and Russia which on January 4, 2006 signed an agreement with GAZPROM and the Government of Ukraine to supply Ukraine with gas on a temporary basis and to lease Ukrainian gas storage and pipelines through 2030.
Bruce P. Jackson, President of the Project on Transitional Democracies, announced, "We are responding to Prime Minister Yuriy Yekhanurov's announcement yesterday that he will order the State Property Fund to announce a tender for any part of RosUkrEnergo which belongs to Ukraine. We are bidding."
On February 8, Prime Minister Yuriy Yekhanurov told journalists, "I will order the State Property Fund to immediately announce a tender if somebody finds that any part of RosUkrEnergo belongs to Ukraine. It will be sold for one hryvna (4 U.S. cents, 3 Euro cents)."
The Project on Transitional Democracies is a non-profit US Corporation based in Washington, DC. Its Board of Directors and International Advisors are evenly divided between Europe and United States. Mr. Jackson was unwilling to divulge the details of the Project's bid until after the publication of the Ukrainian tender. Mr. Jackson did disclose that the US-European bid would be "all cash" and that "Due to the Corporation's non-profit status, we will commit to return all profits to the people of Ukraine who are the legal owners of the assets from which the Project would otherwise be improperly and illegally profiting."
In response to questions about the source of PTD financial backing, Ms. Irina Krasovskaya, PTD Board Member and President of WE REMEMBER, a world-renowned human rights group in Belarus, stated, "Those of us in Belarus could not let the Ukrainian people be sold into the same slavery to which our people have been condemned. We have gathered our hryvnas and are prepared to meet the Prime Minister's price for the economic sovereignty of our friends in Ukraine. It is the least we could do."
Mr. Jackson added, "The opportunity to get in on the ground floor of the greatest asset-stripping operation in European history for a less than a dollar was something our Board could not pass up. At a minimum, our representatives will be able to attend the secret Board meetings in Switzerland and St. Petersburg where they will get to drink champagne with the FSB and the mafia bosses who have stolen the future of Ukraine."
The Board, its financial condition and beneficiaries are a matter of public record and its activities are both transparent and fully compliant with US and European Union law. The Project will file appropriate notifications of intent to bid with the US Securities and Exchange Commission and the European Union upon the publication of the Ukrainian tender.
For additional information, please contact The Project on Transitional Democracies at 202-986-1949 or bruce@ptdemocracy.org.
