Thursday, 12 Mar, 2009 Politics
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Richest Woman in Russia Seeks State's Help

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Yelena Baturina is the richest woman in Russia. She is a billionaire, who managed to make her fortune out of different construction projects in Russia's capital, Moscow, where her husband works as the mayor.

Currently she asked for government help due to the fact that her construction company faces an increasing debt. It was reported that Ms Baturina seeks around GBP1 billion ($1,379,050,000) in state guarantees as the billionaire struggles to refinance loans that her firm, Inteko, took.

Russian newspaper Kommersant reported that Ms Baturina decided to offer a share in her company for state's help. The paper also wrote that Inteko has to return 34 billion roubles (about $967,3 million) to Russian banks, reports Times Online.

The 46-year-old former factory worker gathered huge wealth during the construction boom in Moscow. She is the second wife of the capital's powerful mayor, Yuri Luzhkov. Last year Forbes estimated the wealth of Ms Baturina at $4.2 billion. Last month Finans magazine made a list that catalogued the collapsing fortunes of Russian oligarchs and put the wealth of Ms Baturina at $1 billion.

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