The media attributed the delay c the appointment of Fradkov, Russian Railways...

The media attributed the delay c the appointment of Fradkov, Russian Railways sanctions

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Photo: Andrei Makhonin/TASS

In the case of appointment of the former Director of SVR Mikhail Fradkov, Chairman of the Board of Directors of the Corporation faces default on Eurobonds, said the source “Vedomosti”. About the upcoming appointment of Fradkov reported by the Kremlin

Sources of the newspaper “Vedomosti” told about the possible cause of delay in the appointment of the former Director of foreign intelligence service Mikhail Fradkov, the head of the Board of Directors of the SVR.

According to relatives to the management of RZD and the Russian export centre of interlocutors of the newspaper, due to the fact that Fradkov is under sanctions. He was blacklisted by the European Union in the summer of 2014.

“RZD fears that if he becomes Chairman of the Board, the holders of its Eurobonds would require early repayment on the securities”, — writes the edition.

“Railways have no money, this is the default,” — said one of interlocutors of the newspaper.

Another source close to RZD, said that the changes in the company management should not wait. According to him, Oleg Belozerov will remain President, and Deputy Prime Minister Arkady Dvorkovich is Chairman of the Board of Directors.

President Vladimir Putin freed from Fradkov, Director, SVR on September 22 in connection with retirement. On the same day the press Secretary of the President Dmitry Peskov said that Putin suggested Fradkov becoming Chairman of the Board of Directors of Russian Railways. Peskov said at the time that his nomination will be put forward “soon”.

Fradkov served as head of the SVR since 2007. In his place was appointed speaker of the state Duma of the sixth convocation Sergei Naryshkin.

On 5 October it became known that Putin has signed the decree about rewarding Fradkov the order of St. George IV degree. He thanked him “for many years of fruitful work”. According to the President, under the leadership of Fradkov, the SVR has made “some important steps forward,” was created in new subdivisions, as well as “significantly increased the authority of the Ministry of our partners and allies.” Putin noted then that when Fradkov service “flexibly and dynamically react to changes in the international situation” and “actively contributed to identifying and neutralizing terrorist and other threats to national security.”