Would you pay $ 3.9 billion for this?

I know I wouldn't, but a previously unknown firm called Prana (a cover for probably Gazprom) did on Friday in a fierce auction for what were the last assets for what was once the largest Russian oil company Yukos. The picture is that of its former headquarters. Prana outbidded Rosneft in an auction which lasted nearly three hours. Some sources suggest the figure was this high as the remaining assets may include oil inventories and billions in cash.

Regardless, with this auction Yukos has all but ceased to exist as also its gas stations were sold in the auction. It was indeed a good day for Putin and co., as our great leader also managed to secure a deal involving Turkmen gas that is to be transported through Kazakhstan to Russia after which it can be sold to Western European countries at a great profit.

The mood in Washington and Western European capitals will surely be less upbeat.

Let's see what Conda's visit to Moscow will bring us.