Cold from the East: the newspaper about the arrest of a French banker in Moscow

French newspaper comment on the arrest of managers of investment Fund Baring Vostok, including the French banker Philippe Delpal (Philippe Delpal). The article of the Moscow correspondent of Le Monde talks about the reaction of foreign investors in Russia. According to Les Echos, claims in respect of bankers is more like a settling of accounts. Le Figaro attributes this the case with the confrontation between the siloviki and the liberals in the Russian government.

The head of one of the largest investment funds in Russia, Baring Vostok Michael Calvey were arrested at the end of last week. With him in jail for two months, sent his business partners: employees of the Fund Vahan Abgaryan and Ivan Zyuzin, Chairman of the Board of JSC “Norvik Bank” Alexey Koricheva, CEO of the “First collection Bureau” (PKB), Maxim Vladimirov, and also a citizen of France, a partner of the Fund Philip Delpal. They are accused of fraud. He Calvey called the prosecution attempt to put pressure on the Fund.

46-year-old Philip Delpal previously worked in the leadership of the Russian subsidiary Bank of BNP Paribas, recalls Le Figaro. The graduate of the Higher school of telecommunications for 15 years making a career in Russia. In 2004, he headed the Russian “daughter” Societe Generale Bank — Rusfinance Bank, and in 2007 became President of the Bank “BNP Paribas Vostok” and head of retail banking of the BNP Paribas group in Russia. The Fund Baring Vostok works since 2012 as partner in industry of the financial sector.

In this case there are “all items, indicating the squaring of accounts in Russian: one shareholder wants to get rid of another shareholder, putting him in jail”, — quotes the words of a familiar with the case of the source, the Moscow correspondent newspaper Les Echos Benjamin Quesnel. “The first victim of this unpleasant business is without a doubt the investment climate”, — quotes the edition of words of Emmanuel Quidet, President of the Franco-Russian chamber of Commerce and industry. This case is strengthened and before the existing foreign investors concerns about business practices in Russia, inevitably associated with corruption and lack of an independent judiciary.

Le Figaro talks about the harassment guidelines, the Baring in the context of the confrontation between the so-called siloviki, dominant in Russian politics, and few liberals, even having an impact on the Kremlin. Familiar with the situation sources call the shareholder of Bank “East” Artem Avetisyan complained to the FSB for Michael Calvey close to Dmitry Patrushev, Minister of agriculture, son of Nikolay Patrushev, head of the security Council and former FSB Director.

Le Monde recalls that the founder of Baring Vostok Michael Calvey, has repeatedly and personally met with Putin, always acted as the chief advocate of investing in Russia. However, it’s unlikely that it appeals to different economic forums have found the same strong emotional response as scattered around the world’s media photos from the courtroom where the banker is captured in a glass cage and in handcuffs. “If you want to invest in Russia, you have to be willing [ … ] that may end in the dock” — quoted by the Moscow correspondent of Le Monde Isabel Mandro, Provost of the Russian economic school Maxim buoys.

“It’s like a bolt from the blue for the Moscow expats” — describes the correspondent of Le Figaro Pierre avril reaction to the arrest of Philip Delpal among businessmen. On condition of anonymity tells foreign investors that “stunned” in this business, which shows their vulnerability. “Investing in Russia is no longer an indulgence, and especially immunity for foreigners working in the country”, — quotes the words of his interlocutors Le Figaro. France the situation has not commented. After the introduction of sanctions, its impact on the Kremlin is very limited.

In support Calvey made many famous Russian businessmen, like the head of a state savings Bank or the founder of “Yandex”. Four foreign chambers of Commerce and the Russian Union of Industrialists and entrepreneurs signed posted on 19 February, a joint letter calling for the release Calvey on bail pending trial. And even the Russian Central Bank has offered to mediate in the conflict Calvey shareholder of Bank “East”.

In this context, the Minister of foreign Affairs Sergei Lavrov is scheduled to hold a meeting with foreign investors, is scheduled for February 22.

Meanwhile, direct investment in the Russian economy, which in 2013 (before the annexation of Crimea) 69 billion dollars every year only reduced recalls Le Monde. According to the Russian Central Bank, which leads the newspaper, in 2018, they amounted to only $ 1.9 billion, instead of 28,5 billion in 2017.
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