On September 8, we posted an article about Ron Bloom, our new manufacturing czar, and his involvement with the sale of steel manufacturer Wheeling-Pitt to Esmark which was subsequently sold to OAO Severstal, the largest steel producer in Russia. The deal placed more than half of the U.S. steel industry in the hands of foreign powers. With last week’s controversy over the abandoned missile shield in Poland, a shield which Moscow criticized but was to thwart Iranian missiles, it’s becoming clearer that many roads are leading to Russia. After all, at the end of the week President Obama had set up a business meeting with General Electric CEO Jeffrey Immelt and Russian Prime Minister Vladimir Putin.

GE has been looking to further expand its Russian interests. The meeting with Putin was an effort to prioritize Asian resources since Immelt believes Russia can be a great leader in energy and technology. This is not GE’s first foray into Russia. GE Energy’s Sales, Service and Technology Center in Moscow was established in March and GE owns DeltaBank, a Russian financial leader and that country’s largest issuer of credit cards. Incidentally, GE Money also owns Bank BPH, Poland’s third largest bank.

Additionally, GE manages Russian interests in the United States, in particular with Severstal. GE Corporate Lending backed the financing for Severstal steel mill construction in Columbus, Mississippi, and also provided $200 million to Severstal Warren (OH). However, GE isn’t the only major U.S. company cutting deals with Russia. In a deal orchestrated by the U.S. government, GM has sold off its European unit Opel to Canadian auto parts maker Magna and its partner, the Kremlin-controlled bank Sberbank.

With all these Russian financial deals, missile stand-downs, and our president setting up meetings between Immelt and Putin, does this mean that Russia is now our ally? Hardly.

Since July, Russia has:

More concerning is Russia’s relationship with Iran. We’ve been led to believe that Russia will help us negotiate sanctions with Iran, but why would they? Russia has been Iran’s leading supplier of weapons for years and in 2005 they cut a deal with Iran to supply them with nuclear fuel. Now Iran is on the verge of developing nuclear weapons. Just recently, Russia and Iran operated a joint military exercise in the Caspian Sea. And remember that abandoning the Polish missile shield against Iran made Russia happy.

Will the real America please stand up? We elected our officials into office in order to represent the will of the people. Is this our will? Letting Russian companies take over and cuts deals with American industry while they sell weapons to Iran, Venezuela, and Syria? Whatever game the administration is playing with the Russians, they’re losing.

Sales,Sales, Seri
Services and Technology Center in Moscow
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Comments
  1. Ren says:

    It’s scary seeing these back door deals being brokered and no one, not anyone in the media has connected these dots, I believe you will find more and more as you dig, keep up the great job, you are doing what main stream media is not.

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