Page 56 of Enemy of My Enemy
Many of the Russian businessmen arrested had their assets seized, including ownership of dozens of Russia’s corporations. Now state-owned, workers have, for days, wondered whether their jobs would remain. Other companies simply folded overnight, and Russians heading into work found themselves unemployed. Banks have closed and civil unrest has descended on Moscow and St. Petersburg as violent riots broke out when some stores were forced to ration their sales of food and fuel. Fourteen people were injured in St. Petersburg and fifty in Moscow in three separate riots.
The Russian government cannot sustain the amount of business it has acquired nor afford to pay the salaries of so many workers. Russian President Puchkov has not yet outlined his plan for righting the sinking Russian economy, which is quickly pulling down the global economy.
* * *
Chapter 20
White House
“We haveto do something for your people, Sergey.”
Jack sat with Ethan, Irwin, and Elizabeth in the Oval Office, speaking on a conference call with Sergey and his closest advisors.
“So many businesses closed their doors in protest, Mr. President. They are the problem. They are driving this country into the ground.” Sergey cursed in Russian, a long, growling string of words that Jack didn’t try to translate. “Corrupt oligarchs that want nothing but money! They act like Tzars! I could force their reopening. Demand they return to work.”
Industry had ground to a halt. Aluminum and auto manufacturing, drilling, refining, and mining. Services, from engineering to technology. So much of the economy had frozen.
“We might have a solution, Sergey. It’s unusual.” Jack dipped his head. “But I think you and I thrive on unusual situations.”
Sergey barked out a laugh. “Let us hear it, Mr. President.”
“The Russian Federation has taken over these businesses, much like after the Soviet Union collapsed. Your government cannot support all of these industries. By our models, you’re going to run out of capital in about two months. Inflation is already on the rise.”
“Sooner.” Sergey didn’t sound pleased.
“We need to inject life into your economy. Get business going again.” Jack took a deep breath. “I have a list of American investors and companies that would be interested in partnering with you to get your economy back on its feet.”
Sergey was quiet. “Meaning?”
“Five-year leases of forty-five percent of these corporations to American investors. The Russian Federation would keep a fifty-five percent controlling share, and profits would be split down the same lines. In that time, our investors would work on restructuring with your people. We’d reduce trade tariffs with you and request our NATO allies do the same.”
“Hmmm.” Over the phone line, hushed Russian flew in the background, Sergey’s advisors talking back and forth. “Many Americans would be unhappy with this, would they not, Mr. President?”
“It keeps your industries open, Sergey. Gets your people back to work. Injects immediate capital into your markets. Stabilizes the global economy. Everyone is hurting right now. This is a way to strengthen everyone.”
“And make your American investors wealthy.”
“You would keep a majority share. Most of the wealth would remain in Russia. But these companies do need to be compensated for their investment. They’ll be putting out significant capital in advance of any revenue.”
More Russian flying on the other end of the line. Sergey snapped at someone and then coughed. “My apologies, Mr. President. I like the idea. But fifty-five percent is too low of a controlling share. We want to keep more.”
Irwin nodded across the desk at Jack, as did Elizabeth. They had expected this.
“How does a sixty-five thirty-five split sound?” Jack went straight to the lowest acceptable percentage from his list of investors. He didn’t want to waste Sergey’s time. And, his friend had a point.
“Much more agreeable.” Fast Russian barked back and forth beneath Sergey, from his advisors. “I like it. We will discuss it here. I will let you know.”
“Sounds good, Sergey.” Straightening, Jack rolled his neck and prepared to end the call. “We’ll be—”
“Do you have a moment to speak in private, Jack?”
Jack froze. “Sure, Sergey. Let me clear the room.” He nodded to Irwin and Elizabeth, dismissing them.
On the other end of the line, he heard Sergey doing the same, the sounds of doors closing as he bid his farewells.
Ethan stayed, but he sent a questioning look Jack’s way. Jack nodded.
“It’s just me and Ethan, Sergey. What’s up?”
