While a recent U.S. intelligence report estimates that Russia’s oil-reliant economy is likely to suffer a slow decline over the next 18 years, several Am Law 100 firms are benefiting in the interim from a major reshuffling within the country’s natural resources sector, while also landing other assignments involving assets once owned by the Soviet state.
In the most notable of those transactions, Moscow-based Rosneft75 percent of which is owned by the Russian governmentcontinued its push to become one of the world’s largest oil producers by striking a deal this week to buy the half of TNK-BP it doesn’t already own from the so-called Alfa-Access-Renova consortium (AAR) of Russian oligarchs for $28 billion in cash.
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