2023-08-16 04:00:00
The Caisse de depot is singled out for its investments in the shipping giant DP World, accused by Kyiv of helping Russia in its war once morest Ukraine.
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The woolen socks of Quebecers hold nearly $5 billion in investments in various entities of DP World, a company controlled by the government of Dubai, in the United Arab Emirates.
Last month, the Ukrainian government added DP World to its list of “international war sponsors”.
In June, DP World signed an agreement with Rosatom, Russia’s state-owned atomic energy company, to develop the Northern Sea Route, which connects Europe to Asia via the Russian Arctic. .
Bypass the sanctions?
“The strategic cooperation between Rosatom and DPO World will facilitate the transport of goods to Russia by circumventing the sanctions [internationales contre Moscou]“, supports the National Agency for the Prevention of Corruption, an entity of the Ukrainian government.
This alliance between DP World and Rosatom, “it’s zero acceptable”, commented on Tuesday at the Journal President of the Quebec Council of the Ukrainian Canadian Congress, Michael Shwec.
Michael Shwec
Photo Didier Debusschère
“It’s clear that the sanctions work, so Russia is looking for all possible avenues to get around them,” he said.
“Not in the values of Quebecers”
“It is not in the values of Quebecers to send money to Russia to allow it to buy weapons,” added Mr. Shwec, asking the Caisse to reassess its interests in DP World.
In Ukraine, Rosatom has taken control of the Zaporijjia nuclear power plant, seized last year by Russian forces.
It should also be noted that DP World has held a 51% stake in the Pivdenny container terminal in Ukraine since 2020. In addition, the company transports grain and other Ukrainian goods, including through Romania.
The Pivdenny Container Terminal, Ukraine. Photo courtesy of DP World
The Fonds FTQ too
Established a few months ago, the list of “international war sponsors” currently includes 33 multinationals that Ukraine accuses of indirectly supporting Russia. The Caisse and the Fonds de solidarité FTQ are partners of another company on the list: the French Bonduelle, with which they own Nortera (Arctic Gardens vegetables).
La Caisse has been an important partner of DP World since 2017. Today, it is a shareholder in five of the company’s facilities located in Canada, Australia, the Emirates, the Dominican Republic and the United Kingdom.
The Quebec institution clarified to the Journal that the agreement between DP World and Rosatom did not directly concern the facilities in which it invested.
“We nevertheless expressed [à DP World] our concerns,” said Caisse spokeswoman Kate Monfette.
It should be noted that last year, DP World caused an outcry in the United Kingdom by abruptly terminating the employment of 800 workers at one of its subsidiaries, P&O Ferries.
Some “international sponsors of the war”, according to Ukraine
Unilever (Dove, Lipton, etc.) Bacardi Mondelez (Oreo, Halls, etc.) Yves Rocher Auchan (Decathlon) Procter & Gamble (Tide, Gillette, etc.) Bonduelle (Arctic Gardens) DP World (82 terminals, including one at Vancouver)
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