Ugra, the leader among Russian banks in terms of losses, has nothing left but only to run after the puck.
Ugra Bank could collapse under the weight of heavy debts.
Khotin's business success his competitors often explain by his ability to build relationships with influential people. One of his good friends is said to be Boris Gryzlov.
Alexey and Yuri Khotins can increase their oil assets to $2 billion.
Formally, he is only a minority shareholder with a stake of 0.5%.
Alexey Khotin officially becomes a shareholder of the bank.