{"id":7108,"date":"2014-03-13T14:09:19","date_gmt":"2014-03-13T14:09:19","guid":{"rendered":"http:\/\/geoeconomics.ge\/?p=7108"},"modified":"2014-03-13T14:09:19","modified_gmt":"2014-03-13T14:09:19","slug":"21-%e1%83%94-%e1%83%a1%e1%83%90%e1%83%a3%e1%83%99%e1%83%a3%e1%83%9c%e1%83%98%e1%83%a1-%e1%83%a0%e1%83%a3%e1%83%ae%e1%83%98-%e1%83%99%e1%83%90%e1%83%a0%e1%83%93%e1%83%98%e1%83%9c%e1%83%90","status":"publish","type":"post","link":"http:\/\/geoeconomics.ge\/?p=7108","title":{"rendered":"21-\u10d4 \u10e1\u10d0\u10e3\u10d9\u10e3\u10dc\u10d8\u10e1 \u201e\u10e0\u10e3\u10ee\u10d8 \u10d9\u10d0\u10e0\u10d3\u10d8\u10dc\u10d0\u10da\u10d4\u10d1\u10d8\u201c"},"content":{"rendered":"

\u10db\u10d0\u10e0\u10d9\u10dd \u10d3\u10e3\u10dc\u10d0\u10dc\u10d3\u10db\u10d0 \u10d3\u10d0 \u10d3\u10d0\u10dc\u10d8\u10d4\u10da \u10ef\u10d4\u10d8\u10d2\u10d8\u10db 10-\u10d9\u10d0\u10ea\u10d8\u10d0\u10dc\u10d8 \u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d0, \u10e0\u10dd\u10db\u10d4\u10da\u10d8\u10ea \u10dd\u10e0 \u10de\u10dd\u10da\u10dd\u10dc\u10e3\u10e0 \u10e5\u10d0\u10e0\u10ee\u10d0\u10dc\u10d0\u10e1 \u10dc\u10d0\u10d5\u10d7\u10dd\u10d1\u10d8\u10d7 \u10d0\u10db\u10d0\u10e0\u10d0\u10d2\u10d4\u10d1\u10d3\u10d0, \u10d3\u10d0\u10d0\u10ee\u10da\u10dd\u10d4\u10d1\u10d8\u10d7 10 \u10ec\u10da\u10d8\u10e1 \u10d2\u10d0\u10dc\u10db\u10d0\u10d5\u10da\u10dd\u10d1\u10d0\u10e8\u10d8, \u10db\u10e1\u10dd\u10e4\u10da\u10d8\u10dd\u10e1 \u10db\u10d4\u10dd\u10d7\u10ee\u10d4 \u10e3\u10db\u10e1\u10ee\u10d5\u10d8\u10da\u10d4\u10e1 \u10e1\u10d0\u10e1\u10d0\u10e5\u10dd\u10dc\u10da\u10dd \u10db\u10dd\u10d5\u10d0\u10ed\u10e0\u10d4 \u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d0\u10d3 \u10d0\u10e5\u10ea\u10d8\u10d4\u10e1, \u10e0\u10dd\u10db\u10da\u10d8\u10e1 \u10d1\u10e0\u10e3\u10dc\u10d5\u10d0\u10db\u10d0\u10ea \u10d2\u10d0\u10e1\u10e3\u10da \u10ec\u10d4\u10da\u10e1 100 \u10db\u10d8\u10da\u10d8\u10d0\u10e0\u10d3\u10d8 \u10d0\u10e8\u10e8 \u10d3\u10dd\u10da\u10d0\u10e0\u10d8 \u10e8\u10d4\u10d0\u10d3\u10d2\u10d8\u10dc\u10d0.
\n\u10d0\u10ee\u10da\u10d0 52 \u10ec\u10da\u10d8\u10e1 \u10d3\u10e3\u10dc\u10d0\u10dc\u10d3\u10d8 \u10d3\u10d0 53 \u10ec\u10da\u10d8\u10e1 \u10ef\u10d4\u10d8\u10d2\u10d8 \u10d0\u10db\u10d6\u10d0\u10d3\u10d4\u10d1\u10d4\u10dc \u10d2\u10d4\u10d2\u10db\u10d0\u10e1, \u10d7\u10e3 \u10e0\u10dd\u10d2\u10dd\u10e0 \u10d2\u10d0\u10e3\u10d7\u10d0\u10dc\u10d0\u10d1\u10e0\u10dd\u10dc \u10df\u10d4\u10dc\u10d4\u10d5\u10d0\u10e8\u10d8 \u10d3\u10d0\u10e4\u10e3\u10eb\u10dc\u10d4\u10d1\u10e3\u10da\u10d8 Mercuria Energy Group Ltd \u10db\u10e1\u10dd\u10e4\u10da\u10d8\u10dd\u10e1 \u10e3\u10db\u10e1\u10ee\u10d5\u10d8\u10da\u10d4\u10e1 \u10e1\u10d0\u10d5\u10d0\u10ed\u10e0\u10dd \u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d4\u10d1\u10e1, \u10e0\u10dd\u10d2\u10dd\u10e0\u10d4\u10d1\u10d8\u10ea\u10d0\u10d0: Glencore Xstrata Plc, Trafigura Beheer BV \u10d3\u10d0 Vitol Group. \u10d7\u10e3\u10db\u10ea\u10d0, \u10d0\u10e6\u10e1\u10d0\u10dc\u10d8\u10e8\u10dc\u10d0\u10d5\u10d8\u10d0 \u10d8\u10e1\u10d8\u10ea, \u10e0\u10dd\u10db \u10d2\u10da\u10dd\u10d1\u10d0\u10da\u10e3\u10e0 \u10d1\u10d0\u10d6\u10d0\u10e0\u10d6\u10d4 Mercuria-\u10e1 \u10db\u10d0\u10d7 \u10de\u10dd\u10d6\u10d8\u10ea\u10d8\u10d4\u10d1\u10d0\u10db\u10d3\u10d4 \u10d1\u10d4\u10d5\u10e0\u10d8 \u10d0\u10e0 \u10e3\u10d9\u10da\u10d8\u10d0. 10 \u10ec\u10da\u10d8\u10e1 \u10ec\u10d8\u10dc \u10d3\u10d0\u10d0\u10e0\u10e1\u10d4\u10d1\u10e3\u10da\u10d8 \u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d8\u10e1 \u10d7\u10d0\u10d5\u10d1\u10e0\u10e3\u10d3\u10d0\u10db\u10ee\u10d5\u10d4\u10d5\u10d8 \u10d6\u10e0\u10d3\u10d0 \u10d0\u10dc\u10d0\u10da\u10d8\u10e2\u10d8\u10d9\u10dd\u10e1\u10d4\u10d1\u10db\u10d0 \u10e3\u10d9\u10d5\u10d4 \u10e8\u10d4\u10d0\u10e4\u10d0\u10e1\u10d4\u10e1, \u10e0\u10dd\u10d2\u10dd\u10e0\u10ea 21-\u10d4 \u10e1\u10d0\u10e3\u10d9\u10e3\u10dc\u10d8\u10e1 \u10e1\u10d0\u10e1\u10ec\u10d0\u10e3\u10da\u10d8.<\/p>\n

\u10e0\u10d0\u10db\u10d3\u10d4\u10dc\u10d8\u10db\u10d4 \u10d3\u10e6\u10d8\u10e1 \u10ec\u10d8\u10dc \u10ea\u10dc\u10dd\u10d1\u10d8\u10da\u10d8 \u10d2\u10d0\u10ee\u10d3\u10d0, \u10e0\u10dd\u10db \u10db\u10e1\u10dd\u10e4\u10da\u10d8\u10dd\u10e1 \u10d0\u10ee\u10d0\u10da\u10d8 \u10db\u10d8\u10da\u10d8\u10d0\u10e0\u10d3\u10d4\u10da\u10d4\u10d1\u10d8 \u10db\u10d0\u10da\u10d4 \u10d0\u10ee\u10d0\u10da\u10d8 \u10d2\u10d0\u10e0\u10d8\u10d2\u10d4\u10d1\u10d8\u10e1 \u10e8\u10d4\u10e1\u10d0\u10ee\u10d4\u10d1 \u10d2\u10d0\u10d0\u10d9\u10d4\u10d7\u10d4\u10d1\u10d4\u10dc \u10d2\u10d0\u10dc\u10ea\u10ee\u10d0\u10d3\u10d4\u10d1\u10d0\u10e1. \u10d8\u10e1\u10d8\u10dc\u10d8 JPMorgan Chase & C-\u10e1 3.3-\u10db\u10d8\u10da\u10d8\u10d0\u10e0\u10d3\u10d8\u10d0\u10dc\u10d8 \u10e1\u10d0\u10e1\u10d0\u10e5\u10dd\u10dc\u10da\u10dd \u10d0\u10e5\u10e2\u10d8\u10d5\u10d4\u10d1\u10d8\u10e1 \u10e8\u10d4\u10eb\u10d4\u10dc\u10d0\u10e1 \u10d0\u10de\u10d8\u10e0\u10d4\u10d1\u10d4\u10dc. \u10d0\u10dc\u10d0\u10da\u10d8\u10e2\u10d8\u10d9\u10dd\u10e1\u10d7\u10d0 \u10e8\u10d4\u10e4\u10d0\u10e1\u10d4\u10d1\u10d8\u10d7, \u10d4\u10e1 \u10e8\u10d4\u10d8\u10eb\u10da\u10d4\u10d1\u10d0 \u10d2\u10d0\u10ee\u10d3\u10d4\u10e1 \u10e1\u10d0\u10e3\u10d9\u10e3\u10dc\u10d8\u10e1 \u10d2\u10d0\u10e0\u10d8\u10d2\u10d4\u10d1\u10d0, \u10e0\u10dd\u10db\u10d4\u10da\u10d8\u10ea \u10e1\u10d0\u10e1\u10d0\u10e5\u10dd\u10dc\u10da\u10dd \u10d1\u10d0\u10d6\u10e0\u10d4\u10d1\u10d6\u10d4 \u10d9\u10dd\u10dc\u10d8\u10e3\u10dc\u10e5\u10e2\u10e3\u10e0\u10d0\u10e1 \u10eb\u10d8\u10e0\u10d4\u10e3\u10da\u10d0\u10d3 \u10e8\u10d4\u10ea\u10d5\u10da\u10d8\u10e1 \u10d3\u10d0 \u10db\u10e1\u10dd\u10e4\u10da\u10d8\u10dd\u10e1 \u10d0\u10ee\u10d0\u10da\u10d8 \u10e4\u10d8\u10dc\u10d0\u10dc\u10e1\u10e3\u10e0\u10d8 \u10d2\u10d8\u10d2\u10d0\u10dc\u10e2\u10d8\u10e1 \u10d3\u10d0\u10d1\u10d0\u10d3\u10d4\u10d1\u10d0\u10e1 \u10d0\u10db\u10ea\u10dc\u10dd\u10d1\u10e1.\u10e1\u10de\u10d4\u10ea\u10d8\u10d0\u10da\u10d8\u10e1\u10e2\u10d7\u10d0 \u10e8\u10d4\u10e4\u10d0\u10e1\u10d4\u10d1\u10d8\u10d7, \u10ef\u10d4\u10d8\u10da\u10d8 \u10d3\u10d0 \u10d3\u10e3\u10dc\u10d0\u10dc\u10d3\u10d8 \u10da\u10d8\u10d2\u10d8\u10e1 \u10e2\u10dd\u10de-\u10db\u10dd\u10d7\u10d0\u10db\u10d0\u10e8\u10d4\u10d4\u10d1\u10d8 \u10ee\u10d3\u10d4\u10d1\u10d8\u10d0\u10dc.<\/p>\n

\u10e0\u10dd\u10d2\u10dd\u10e0 \u10d8\u10ea\u10d5\u10da\u10d4\u10d1\u10d0 \u10d1\u10d0\u10d6\u10e0\u10d8\u10e1 \u10d9\u10dd\u10dc\u10d8\u10e3\u10dc\u10e5\u10e2\u10e3\u10e0\u10d0<\/strong><\/p>\n

\u10db\u10e1\u10ee\u10d5\u10d8\u10da\u10d8 \u10d1\u10d0\u10dc\u10d9\u10d4\u10d1\u10d8, \u10db\u10d0\u10d7 \u10e8\u10dd\u10e0\u10d8\u10e1 – JP Morgan \u10d3\u10d0 Morgan Stanley – \u10ea\u10d3\u10d8\u10da\u10dd\u10d1\u10d4\u10dc \u10e8\u10d4\u10d0\u10db\u10ea\u10d8\u10e0\u10dd\u10dc \u10e1\u10d0\u10e1\u10d0\u10e5\u10dd\u10dc\u10da\u10dd \u10d1\u10d8\u10d6\u10dc\u10d4\u10e1\u10d4\u10d1\u10d8 \u10e0\u10d8\u10e1\u10d9\u10d4\u10d1\u10d8\u10e1 \u10d3\u10d8\u10d5\u10d4\u10e0\u10e1\u10d8\u10e4\u10d8\u10ea\u10d8\u10e0\u10d4\u10d1\u10d8\u10e1\u10d0 \u10d3\u10d0 \u10d7\u10d0\u10d5\u10d8\u10d3\u10d0\u10dc \u10d0\u10ea\u10d8\u10da\u10d4\u10d1\u10d8\u10e1 \u10db\u10d8\u10d6\u10dc\u10d8\u10d7. 10 \u10e3\u10db\u10e1\u10ee\u10d5\u10d8\u10da\u10d4\u10e1\u10d8 \u10e1\u10d0\u10d8\u10dc\u10d5\u10d4\u10e1\u10e2\u10d8\u10ea\u10d8\u10dd \u10d1\u10d0\u10dc\u10d9\u10d8\u10e1 \u10e8\u10d4\u10db\u10dd\u10e1\u10d0\u10d5\u10d0\u10da\u10d8 \u10e1\u10d0\u10e1\u10d0\u10e5\u10dd\u10dc\u10da\u10d8 \u10d1\u10d8\u10d6\u10dc\u10d4\u10e1\u10d8\u10d3\u10d0\u10dc 2013 \u10ec\u10d4\u10da\u10e1 4.5 \u10db\u10d8\u10da\u10d8\u10d0\u10e0\u10d3 \u10d3\u10dd\u10da\u10d0\u10e0\u10d0\u10db\u10d3\u10d4 \u10e8\u10d4\u10db\u10ea\u10d8\u10e0\u10d3\u10d0, \u10db\u10d0\u10e8\u10d8\u10dc \u10e0\u10dd\u10ea\u10d0 2008 \u10ec\u10d4\u10da\u10e1 \u10d4\u10e1 \u10db\u10d0\u10e9\u10d5\u10d4\u10dc\u10d4\u10d1\u10d4\u10da\u10d8 14 \u10db\u10d8\u10da\u10d8\u10d0\u10e0\u10d3\u10d8 \u10d8\u10e7\u10dd. <\/p>\n

\u10d0\u10db \u10d3\u10e0\u10dd\u10e1, \u10d3\u10d0\u10db\u10dd\u10e3\u10d9\u10d8\u10d3\u10d4\u10d1\u10d4\u10da\u10d8 \u10e2\u10e0\u10d4\u10d8\u10d3\u10d4\u10e0\u10d4\u10d1\u10d8, \u10d8\u10e1\u10d4\u10d7\u10d8 \u10e0\u10dd\u10d2\u10dd\u10e0\u10d8\u10ea\u10d0\u10d0 Mercuria, \u10d0\u10d5\u10e1\u10d4\u10d1\u10d4\u10dc \u10d1\u10d0\u10d6\u10d0\u10e0\u10d6\u10d4 \u10ec\u10d0\u10e0\u10db\u10dd\u10e5\u10db\u10dc\u10d8\u10da \u10ee\u10d5\u10e0\u10d4\u10da\u10e1. \u10d8\u10db \u10d1\u10d8\u10d6\u10dc\u10d4\u10e1\u10d8\u10e1 \u10db\u10d4\u10e1\u10d0\u10d9\u10e3\u10d7\u10e0\u10d4\u10d4\u10d1\u10d8, \u10e0\u10dd\u10db\u10da\u10d4\u10d1\u10d8\u10ea \u10e4\u10da\u10dd\u10d1\u10d4\u10dc \u10ec\u10d0\u10e0\u10db\u10dd\u10d4\u10d1\u10d8\u10e1, \u10d3\u10d0\u10e1\u10d0\u10ec\u10e7\u10dd\u10d1\u10d4\u10d1\u10d8\u10e1, \u10e2\u10e0\u10d0\u10dc\u10e1\u10de\u10dd\u10e0\u10e2\u10d8\u10e0\u10d4\u10d1\u10d8\u10e1\u10d0 \u10d3\u10d0 \u10dc\u10d4\u10d3\u10da\u10d4\u10e3\u10da\u10d8\u10e1 \u10d3\u10d0\u10db\u10e3\u10e8\u10d0\u10d5\u10d4\u10d1\u10d8\u10e1 \u10d1\u10d8\u10d6\u10dc\u10d4\u10e1\u10d4\u10d1\u10e1, \u10e8\u10d4\u10e3\u10eb\u10da\u10d8\u10d0\u10d7 \u10ec\u10d0\u10e0\u10db\u10d0\u10e2\u10d4\u10d1\u10d8\u10e1 \u10db\u10d8\u10e6\u10ec\u10d4\u10d5\u10d0 \u10db\u10d0\u10e8\u10d8\u10dc, \u10e0\u10dd\u10ea\u10d0 \u10db\u10d6\u10d0\u10e0\u10d3\u10d8 \u10d2\u10da\u10dd\u10d1\u10d0\u10da\u10e3\u10e0\u10d8 \u10db\u10dd\u10e1\u10d0\u10ee\u10da\u10d4\u10dd\u10d1\u10d8\u10e1 \u10db\u10ee\u10e0\u10d8\u10d3\u10d0\u10dc \u10e1\u10d0\u10e5\u10dd\u10dc\u10d4\u10da\u10d6\u10d4 \u10db\u10dd\u10d7\u10ee\u10dd\u10d5\u10dc\u10d0 \u10e1\u10e3\u10da \u10e3\u10e4\u10e0\u10dd \u10d8\u10d6\u10e0\u10d3\u10d4\u10d1\u10d0. <\/p>\n

JPMorgan-\u10d7\u10d0\u10dc \u10d2\u10d0\u10e0\u10d8\u10d2\u10d4\u10d1\u10d0 \u10d3\u10e3\u10dc\u10d0\u10dc\u10d3\u10d8\u10e1\u10d0 \u10d3\u10d0 \u10ef\u10d4\u10d8\u10d2\u10d8\u10e1\u10d7\u10d8\u10e1, \u10e0\u10dd\u10db\u10d4\u10da\u10d4\u10d1\u10d8\u10ea 15-15%-\u10d8\u10d0\u10dc \u10ec\u10d8\u10da\u10e1 \u10e4\u10da\u10dd\u10d1\u10d4\u10dc Mercuria-\u10e8\u10d8, \u10d8\u10e5\u10dc\u10d4\u10d1\u10d0 \u10d0\u10ee\u10d0\u10da\u10d8 \u10e8\u10d4\u10e1\u10d0\u10eb\u10da\u10d4\u10d1\u10da\u10dd\u10d1\u10d0 \u10d8\u10e1\u10d4\u10d3\u10d0\u10ea \u10db\u10d6\u10d0\u10e0\u10d3\u10d8 \u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d8\u10e1 \u10d9\u10d8\u10d3\u10d4\u10d5 \u10e3\u10e4\u10e0\u10dd \u10d2\u10d0\u10e4\u10d0\u10e0\u10d7\u10dd\u10d4\u10d1\u10d8\u10e1. 2011 \u10ec\u10da\u10d8\u10d3\u10d0\u10dc 2013 \u10ec\u10da\u10d0\u10db\u10d3\u10d4 Mercuria-\u10db \u10db\u10e1\u10ee\u10d5\u10d8\u10da\u10d8 \u10e1\u10d0\u10d8\u10dc\u10d5\u10d4\u10e1\u10e2\u10d8\u10ea\u10d8\u10dd \u10d1\u10d0\u10dc\u10d9\u10d4\u10d1\u10d8\u10e1 570 \u10ec\u10d0\u10db\u10e7\u10d5\u10d0\u10dc\u10d8 \u10e1\u10de\u10d4\u10ea\u10d8\u10d0\u10da\u10d8\u10e1\u10e2\u10d8 \u10d3\u10d0\u10d8\u10e5\u10d8\u10e0\u10d0\u10d5\u10d0. \u10db\u10d0\u10d7 \u10e8\u10dd\u10e0\u10d8\u10e1 \u10d8\u10e1\u10d4\u10d7\u10d8 \u10d1\u10d0\u10dc\u10d9\u10d4\u10d1\u10d8\u10d3\u10d0\u10dc, \u10e0\u10dd\u10d2\u10dd\u10e0\u10d8\u10ea\u10d0\u10d0: Goldman Sachs Group Inc, Barclays Plc \u10d3\u10d0 \u10e1\u10ee\u10d5\u10d0.<\/p>\n

\u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d8\u10e1 \u10e1\u10d0\u10e1\u10d0\u10e5\u10dd\u10dc\u10da\u10dd \u10d5\u10d0\u10ed\u10e0\u10dd\u10d1\u10d8\u10d3\u10d0\u10dc \u10e8\u10d4\u10db\u10dd\u10e1\u10d0\u10d5\u10d0\u10da\u10d8 (\u10dc\u10d0\u10d5\u10d7\u10dd\u10d1\u10d8\u10e1 \u10d2\u10d0\u10e0\u10d3\u10d0) \u10d0\u10db\u10df\u10d0\u10db\u10d0\u10d3 \u10e8\u10d4\u10d0\u10d3\u10d2\u10d4\u10dc\u10e1 \u10e8\u10d4\u10db\u10dd\u10e1\u10d0\u10d5\u10da\u10d4\u10d1\u10d8\u10e1 50%-\u10e1. \u10db\u10d8\u10e1\u10d8 \u10e8\u10d4\u10db\u10dd\u10e1\u10d0\u10d5\u10da\u10d4\u10d1\u10d8 2012 \u10ec\u10d4\u10da\u10e1 \u10d8\u10e7\u10dd 98 \u10db\u10d8\u10da\u10d8\u10d0\u10e0\u10d3\u10d8 \u10d3\u10dd\u10da\u10d0\u10e0\u10d8, \u10e1\u10d0\u10d8\u10d3\u10d0\u10dc\u10d0\u10ea \u10db\u10dd\u10d2\u10d4\u10d1\u10d0 343 \u10db\u10d8\u10da\u10d8\u10dd\u10dc\u10d8 \u10d8\u10e7\u10dd. \u201e\u10d8\u10e1, \u10e0\u10d0\u10ea \u10d0\u10db \u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d0\u10e1 \u10e1\u10ee\u10d5\u10d4\u10d1\u10d8\u10e1\u10d2\u10d0\u10dc \u10d2\u10d0\u10dc\u10d0\u10e1\u10ee\u10d5\u10d0\u10d5\u10d4\u10d1\u10e1, \u10d6\u10e0\u10d3\u10d8\u10e1 \u10d7\u10d0\u10d5\u10d1\u10e0\u10e3\u10d3\u10d0\u10db\u10ee\u10d5\u10d4\u10d5\u10d8 \u10db\u10d0\u10e1\u10e8\u10e2\u10d0\u10d1\u10d4\u10d1\u10d8\u10d0. \u10d8\u10e1 \u10d0\u10e0\u10d8\u10e1 \u10e7\u10d5\u10d4\u10da\u10d0\u10d6\u10d4 \u10e1\u10ec\u10e0\u10d0\u10e4\u10d0\u10d3 \u10db\u10d6\u10d0\u10e0\u10d3\u10d8 \u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d0 \u10dc\u10d0\u10d5\u10d7\u10dd\u10d1\u10d8\u10e1 \u10e1\u10d4\u10e5\u10e2\u10dd\u10e0\u10e8\u10d8, \u10d0\u10ee\u10da\u10d0 \u10e3\u10d9\u10d5\u10d4 \u10e1\u10ee\u10d5\u10d0 \u10e1\u10d0\u10e5\u10dd\u10dc\u10d4\u10da\u10d6\u10d4\u10ea\u201c – \u10d0\u10e1\u10d4 \u10d0\u10e4\u10d0\u10e1\u10d4\u10d1\u10d4\u10dc \u10d0\u10dc\u10d0\u10da\u10d8\u10e2\u10d8\u10d9\u10dd\u10e1\u10d4\u10d1\u10d8 Mercuria-\u10e1. <\/p>\n

2012 \u10ec\u10d4\u10da\u10e1 \u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d0\u10db \u10ef\u10d0\u10db\u10e8\u10d8 182 \u10db\u10d8\u10da\u10d8\u10dd\u10dc\u10d8 \u10e2\u10dd\u10dc\u10d0 \u10dc\u10d0\u10d5\u10d7\u10dd\u10d1\u10d8\u10d7 \u10d0\u10dc \u10db\u10d8\u10e1\u10d8 \u10d4\u10e5\u10d5\u10d8\u10d5\u10d0\u10da\u10d4\u10dc\u10e2\u10d8\u10d7 \u10d8\u10d5\u10d0\u10ed\u10e0\u10d0. Vitol-\u10db\u10d0 (\u10e7\u10d5\u10d4\u10da\u10d0\u10d6\u10d4 \u10db\u10e1\u10ee\u10d5\u10d8\u10da\u10d8 \u10e1\u10d0\u10d5\u10d0\u10ed\u10e0\u10dd \u10db\u10dd\u10d7\u10d0\u10db\u10d0\u10e8\u10d4 \u10dc\u10d0\u10d5\u10d7\u10dd\u10d1\u10d8\u10e1 \u10d1\u10d0\u10d6\u10d0\u10e0\u10d6\u10d4) \u10d8\u10db\u10d0\u10d5\u10d4 \u10de\u10d4\u10e0\u10d8\u10dd\u10d3\u10e8\u10d8 261 \u10db\u10d8\u10da\u10d8\u10dd\u10dc\u10d8 \u10e2\u10dd\u10dc\u10d0 \u10dc\u10d0\u10d5\u10d7\u10dd\u10d1\u10d8 \u10d8\u10d5\u10d0\u10ed\u10e0\u10d0, Trafigura-\u10db\u10d0 \u10d9\u10d8 102.8 \u10db\u10d8\u10da\u10d8\u10dd\u10dc\u10d8 \u10e2\u10dd\u10dc\u10d0 \u10dc\u10d0\u10d5\u10d7\u10dd\u10d1\u10d8\u10d7. 2012 \u10ec\u10d4\u10da\u10e1 \u10d1\u10e0\u10d4\u10dc\u10e2\u10d8\u10e1 \u10e2\u10d8\u10de\u10d8\u10e1 \u10dc\u10d0\u10d5\u10d7\u10dd\u10d1\u10d6\u10d4 \u10e4\u10d0\u10e1\u10d8 3.5%-\u10d8\u10d7 \u10d2\u10d0\u10d8\u10d6\u10e0\u10d3\u10d0, 2013 \u10ec\u10d4\u10da\u10e1 0.3%-\u10d8\u10d7 \u10e8\u10d4\u10db\u10ea\u10d8\u10e0\u10d3\u10d0, \u10db\u10d8\u10db\u10d3\u10d8\u10dc\u10d0\u10e0\u10d4 \u10ec\u10d4\u10da\u10e1 \u10d9\u10d8 \u10e3\u10d9\u10d5\u10d4 2.6%-\u10d8\u10d7\u10d0\u10d0 \u10e8\u10d4\u10db\u10ea\u10d8\u10e0\u10d4\u10d1\u10e3\u10da\u10d8 \u10d3\u10d0 \u10d3\u10d0\u10d0\u10ee\u10da\u10dd\u10d4\u10d1\u10d8\u10d7 108 \u10d3\u10dd\u10da\u10d0\u10e0\u10e1 \u10e8\u10d4\u10d0\u10d3\u10d2\u10d4\u10dc\u10e1 \u10d1\u10d0\u10e0\u10d4\u10da\u10d6\u10d4. <\/p>\n

\u10d1\u10d4\u10d5\u10e0\u10d8 \u10e1\u10d0\u10d5\u10d0\u10ed\u10e0\u10dd \u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d0 \u10d0\u10ee\u10da\u10d0 \u10d8\u10e0\u10e9\u10d4\u10d5\u10e1 \u10e1\u10e2\u10e0\u10d0\u10e2\u10d4\u10d2\u10d8\u10d0\u10e1, \u10e0\u10dd\u10db\u10da\u10d8\u10e1 \u10db\u10d8\u10ee\u10d4\u10d3\u10d5\u10d8\u10d7\u10d0\u10ea \u10de\u10dd\u10e0\u10e2\u10e4\u10d4\u10da\u10e8\u10d8 \u10d0\u10d4\u10e0\u10d7\u10d8\u10d0\u10dc\u10d4\u10d1\u10d4\u10dc \u10db\u10dd\u10dc\u10d0\u10d7\u10d4\u10e1\u10d0\u10d5\u10d4 \u10e1\u10e4\u10d4\u10e0\u10dd\u10d4\u10d1\u10d8\u10e1 \u10d1\u10d8\u10d6\u10dc\u10d4\u10e1\u10d4\u10d1\u10e1, \u10d2\u10d0\u10db\u10dd\u10dc\u10d0\u10d9\u10da\u10d8\u10e1\u10d8 \u10d0\u10e0\u10ea Mercuria-\u10d0. \u10d0\u10db\u10df\u10d0\u10db\u10d0\u10d3 \u10db\u10d8\u10e1 \u10db\u10e4\u10da\u10dd\u10d1\u10d4\u10da\u10dd\u10d1\u10d0\u10e8\u10d8\u10d0: \u10dc\u10d0\u10ee\u10e8\u10d8\u10e0\u10d8\u10e1 \u10e1\u10d0\u10d1\u10d0\u10d3\u10dd \u10d8\u10dc\u10d3\u10dd\u10dc\u10d4\u10d6\u10d8\u10d0\u10e8\u10d8, \u10dc\u10d0\u10d5\u10d7\u10dd\u10d1\u10d8\u10e1\u10d0 \u10d3\u10d0 \u10d2\u10d0\u10d6\u10d8\u10e1 \u10e1\u10d0\u10d1\u10d0\u10d3\u10dd \u10d0\u10e0\u10d2\u10d4\u10dc\u10e2\u10d8\u10dc\u10d0\u10e8\u10d8, \u10dc\u10d0\u10d5\u10d7\u10dd\u10d1\u10d8\u10e1 \u10e1\u10d0\u10ec\u10e7\u10dd\u10d1\u10d8 \u10e9\u10d8\u10dc\u10d4\u10d7\u10e8\u10d8 \u10d3\u10d0 \u10d1\u10d8\u10dd\u10d3\u10d8\u10d6\u10d4\u10da\u10d8\u10e1 \u10e5\u10d0\u10e0\u10ee\u10d0\u10dc\u10d0 \u10d2\u10d4\u10e0\u10db\u10d0\u10dc\u10d8\u10d0\u10e8\u10d8. 2013 \u10ec\u10da\u10d8\u10e1 \u10d8\u10d5\u10dc\u10d8\u10e1\u10e8\u10d8 \u10db\u10d0\u10dc 50 \u10db\u10d8\u10da\u10d8\u10dd\u10dc\u10d8\u10e1 \u10d8\u10dc\u10d5\u10d4\u10e1\u10e2\u10d8\u10ea\u10d8\u10d0 \u10e9\u10d0\u10d3\u10dd \u10e0\u10e3\u10db\u10d8\u10dc\u10d4\u10d7\u10d8\u10e1 \u10d2\u10d0\u10d6\u10d8\u10e1 \u10ec\u10d0\u10e0\u10db\u10dd\u10d4\u10d1\u10d0\u10e8\u10d8. <\/p>\n

JPMorgan-\u10d8\u10e1 \u10dc\u10d0\u10ec\u10d8\u10da\u10e8\u10d8, \u10e0\u10dd\u10db\u10da\u10d8\u10e1 \u10d2\u10d0\u10e1\u10ee\u10d5\u10d8\u10e1\u10d4\u10d1\u10d8\u10e1 \u10e8\u10d4\u10e1\u10d0\u10ee\u10d4\u10d1\u10d0\u10ea\u10d0\u10d0 \u10e1\u10d0\u10e3\u10d1\u10d0\u10e0\u10d8, \u10d3\u10d0\u10e1\u10d0\u10e5\u10db\u10d4\u10d1\u10e3\u10da\u10d8\u10d0 600 \u10d0\u10d3\u10d0\u10db\u10d8\u10d0\u10dc\u10d8 \u10d3\u10d0 \u10d0\u10d4\u10e0\u10d7\u10d8\u10d0\u10dc\u10d4\u10d1\u10e1 \u10e1\u10ee\u10d5\u10d0\u10d3\u10d0\u10e1\u10ee\u10d5\u10d0 \u10e2\u10d8\u10de\u10d8\u10e1 \u10d0\u10e5\u10ea\u10d8\u10d4\u10d1\u10e1, \u10db\u10d0\u10d7 \u10e8\u10dd\u10e0\u10d8\u10e1 – Bear Stearns Cos-\u10d8\u10e1\u10d0 \u10d3\u10d0 RBS Sempra-\u10e1 \u10d0\u10e5\u10e2\u10d8\u10d5\u10d4\u10d1\u10e1, \u10e0\u10dd\u10db\u10d4\u10da\u10d8\u10ea \u10d1\u10d0\u10dc\u10d9\u10db\u10d0 2008 \u10ec\u10d4\u10da\u10e1 \u10e8\u10d4\u10d8\u10eb\u10d8\u10dc\u10d0. <\/p>\n

\u10d0\u10e5\u10e2\u10d8\u10d5\u10d4\u10d1\u10e1 \u10e8\u10dd\u10e0\u10d8\u10e1\u10d0\u10d0 \u10d2\u10d0\u10d6\u10d8\u10e1\u10d0 \u10d3\u10d0 \u10d3\u10d4\u10dc\u10d8\u10e1 \u10e1\u10d0\u10d5\u10d0\u10ed\u10e0\u10dd \u10d0\u10e5\u10e2\u10d8\u10d5\u10d4\u10d1\u10d8 \u10d0\u10e2\u10da\u10d0\u10dc\u10e2\u10d8\u10d9\u10d8\u10e1 \u10dd\u10e0\u10d8\u10d5\u10d4 \u10db\u10ee\u10d0\u10e0\u10d4\u10e1, \u10e9\u10e0\u10d3\u10d8\u10da\u10dd\u10d4\u10d7 \u10d0\u10db\u10d4\u10e0\u10d8\u10d9\u10d0\u10e8\u10d8 \u10d2\u10d0\u10dc\u10d7\u10d0\u10d5\u10e1\u10d4\u10d1\u10e3\u10da\u10d8 \u10e4\u10d8\u10d6\u10d8\u10d9\u10e3\u10e0\u10d8 \u10d0\u10e5\u10e2\u10d8\u10d5\u10d4\u10d1\u10d8, \u10d0\u10db\u10d4\u10e0\u10d8\u10d9\u10d8\u10e1 \u10d0\u10e6\u10db\u10dd\u10e1\u10d0\u10d5\u10da\u10d4\u10d7 \u10e1\u10d0\u10dc\u10d0\u10de\u10d8\u10e0\u10dd\u10e1 \u10e3\u10d3\u10d8\u10d3\u10d4\u10e1\u10d8 \u10e5\u10d0\u10e0\u10ee\u10dc\u10d8\u10e1 \u10dc\u10d0\u10d5\u10d7\u10dd\u10d1\u10d8\u10e1 \u10e8\u10d4\u10d9\u10d5\u10d4\u10d7\u10d4\u10d1\u10d8, 6 \u10db\u10d8\u10da\u10d8\u10dd\u10dc\u10d8 \u10d1\u10d0\u10e0\u10d4\u10da\u10d8 \u10dc\u10d0\u10d5\u10d7\u10dd\u10d1\u10d8\u10e1 \u10e8\u10d4\u10dc\u10d0\u10ee\u10d5\u10d8\u10e1 \u10d8\u10ef\u10d0\u10e0\u10d0 \u10d9\u10d0\u10dc\u10d0\u10d3\u10d0\u10e8\u10d8 \u10d3\u10d0 220 \u10ec\u10da\u10d8\u10e1 \u10ec\u10d8\u10dc \u10d3\u10d0\u10d0\u10e0\u10e1\u10d4\u10d1\u10e3\u10da\u10d8 \u10da\u10d8\u10d7\u10dd\u10dc\u10d8\u10e1 \u10e1\u10d0\u10ec\u10e7\u10dd\u10d1\u10d8, \u10e0\u10dd\u10db\u10d4\u10da\u10d8\u10ea \u10da\u10d8\u10d5\u10d4\u10e0\u10de\u10e3\u10da\u10e8\u10d8 \u10db\u10d3\u10d4\u10d1\u10d0\u10e0\u10d4\u10dd\u10d1\u10e1. <\/p>\n

JPMorgan-\u10d8\u10e1\u10d7\u10d5\u10d8\u10e1 \u10e1\u10d0\u10e1\u10d0\u10e5\u10dd\u10dc\u10da\u10dd \u10d1\u10d8\u10d6\u10dc\u10d4\u10e1\u10d8\u10e1 \u10db\u10d0\u10e0\u10d7\u10d5\u10d0 \u10eb\u10d0\u10da\u10d8\u10d0\u10dc \u10d3\u10d8\u10d3 \u10ee\u10d0\u10e0\u10ef\u10d4\u10d1\u10d7\u10d0\u10dc\u10d0\u10d0 \u10d3\u10d0\u10d9\u10d0\u10d5\u10e8\u10d8\u10e0\u10d4\u10d1\u10e3\u10da\u10d8. \u10d2\u10d0\u10dc\u10e1\u10d0\u10d9\u10e3\u10d7\u10e0\u10d4\u10d1\u10d8\u10d7 \u10d3\u10d8\u10d3\u10d8 \u10d7\u10d0\u10dc\u10ee\u10d4\u10d1\u10d8 \u10d8\u10ee\u10d0\u10e0\u10ef\u10d4\u10d1\u10d0 \u10de\u10d4\u10e0\u10e1\u10dd\u10dc\u10d0\u10da\u10d8\u10e1 \u10ee\u10d4\u10da\u10e4\u10d0\u10e1\u10d4\u10d1\u10d6\u10d4, \u10e0\u10d0\u10d3\u10d2\u10d0\u10dc \u10d0\u10db \u10d0\u10e5\u10e2\u10d8\u10d5\u10d4\u10d1\u10d8\u10e1 \u10db\u10d0\u10e0\u10d7\u10d5\u10d0 \u10db\u10d0\u10e6\u10d0\u10da\u10d9\u10d5\u10d0\u10da\u10d8\u10e4\u10d8\u10ea\u10d8\u10e3\u10e0 \u10e1\u10de\u10d4\u10ea\u10d8\u10d0\u10da\u10d8\u10e1\u10e2\u10d4\u10d1\u10e1 \u10e1\u10d0\u10ed\u10d8\u10e0\u10dd\u10d4\u10d1\u10e1. Mercuria-\u10e1\u10d7\u10d0\u10dc \u10d2\u10d0\u10e0\u10d8\u10d2\u10d4\u10d1\u10d0 \u10d9\u10d8 \u10d1\u10d0\u10dc\u10d9\u10e1 \u10ee\u10d0\u10e0\u10ef\u10d4\u10d1\u10e1 \u10db\u10dc\u10d8\u10e8\u10d5\u10dc\u10d4\u10da\u10dd\u10d5\u10dc\u10d0\u10d3 \u10e8\u10d4\u10e3\u10db\u10ea\u10d8\u10e0\u10d4\u10d1\u10e1. <\/p>\n

\u10de\u10e0\u10dd\u10e4\u10d4\u10e1\u10d8\u10e3\u10da\u10d8 \u10d2\u10d0\u10db\u10dd\u10ea\u10d3\u10d8\u10da\u10d4\u10d1\u10d0<\/strong><\/p>\n

\u10db\u10d0\u10e0\u10d9\u10dd \u10d3\u10e3\u10dc\u10d0\u10dc\u10d3\u10d8 \u10d3\u10d0 \u10d3\u10d0\u10dc\u10d8\u10d4\u10da \u10ef\u10d4\u10d8\u10d2\u10d8 \u10d4\u10e0\u10d7\u10db\u10d0\u10dc\u10d4\u10d7\u10e1 \u10de\u10d8\u10e0\u10d5\u10d4\u10da\u10d0\u10d3 1970-\u10d8\u10d0\u10dc \u10ec\u10da\u10d4\u10d1\u10e8\u10d8 \u10df\u10d4\u10dc\u10d4\u10d5\u10d8\u10e1 \u10e3\u10dc\u10d8\u10d5\u10d4\u10e0\u10e1\u10d8\u10e2\u10d4\u10e2\u10e8\u10d8 \u10e1\u10ec\u10d0\u10d5\u10da\u10d8\u10e1\u10d0\u10e1 \u10e8\u10d4\u10ee\u10d5\u10d3\u10dc\u10d4\u10dc. \u10db\u10d0\u10d7\u10d8 \u10db\u10d4\u10d2\u10dd\u10d1\u10e0\u10dd\u10d1\u10d0 \u10db\u10dd\u10d2\u10d5\u10d8\u10d0\u10dc\u10d4\u10d1\u10d8\u10d7 \u10d2\u10d0\u10db\u10e7\u10d0\u10e0\u10d3\u10d0 \u10db\u10d0\u10e0\u10ea\u10d5\u10da\u10d4\u10e3\u10da\u10d8\u10d7 \u10db\u10dd\u10d5\u10d0\u10ed\u10e0\u10d4 \u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d0 Cargill Inc-\u10e8\u10d8 \u10db\u10e3\u10e8\u10d0\u10dd\u10d1\u10d8\u10e1\u10d0\u10e1 \u10d3\u10d0 \u10db\u10d8\u10dc\u10d4\u10d0\u10de\u10dd\u10da\u10d8\u10e1\u10e8\u10d8 \u10e2\u10e0\u10d4\u10d8\u10dc\u10d8\u10dc\u10d2 \u10d9\u10e3\u10e0\u10e1\u10d4\u10d1\u10d6\u10d4 \u10d3\u10d0\u10e1\u10ec\u10e0\u10d4\u10d1\u10d8\u10e1\u10d0\u10e1 \u10e1\u10d0\u10d4\u10e0\u10d7\u10dd \u10dd\u10d7\u10d0\u10ee\u10d8\u10e1 \u10d2\u10d0\u10d6\u10d8\u10d0\u10e0\u10d4\u10d1\u10d8\u10e1 \u10d3\u10e0\u10dd\u10e1. Mercuria-\u10e1 \u10d9\u10dd\u10e0\u10de\u10dd\u10e0\u10d0\u10e2\u10d8\u10e3\u10da\u10d8 \u10e1\u10e2\u10e0\u10d0\u10e2\u10d4\u10d2\u10d8\u10d0 \u10d3\u10d0 \u10d9\u10e3\u10da\u10e2\u10e3\u10e0\u10d0 \u10db\u10d8\u10e1\u10d8 \u10db\u10e4\u10da\u10dd\u10d1\u10d4\u10da\u10d4\u10d1\u10d8\u10e1 \u10e3\u10e8\u10e3\u10d0\u10da\u10dd \u10d2\u10d0\u10d5\u10da\u10d4\u10dc\u10d0\u10d0, \u10e0\u10dd\u10db\u10d4\u10da\u10d7\u10d0\u10ea \u10d9\u10d0\u10e0\u10d8\u10d4\u10e0\u10d8\u10e1 \u10d0\u10d3\u10e0\u10d4\u10e3\u10da\u10d8 \u10ec\u10da\u10d4\u10d1\u10d8 \u10e1\u10d0\u10d8\u10dc\u10d5\u10d4\u10e1\u10e2\u10d8\u10ea\u10d8\u10dd \u10d1\u10d0\u10dc\u10d9\u10d4\u10d1\u10e8\u10d8 \u10d2\u10d0\u10d0\u10e2\u10d0\u10e0\u10d4\u10e1. Cargill-\u10d8\u10e1 \u10e8\u10d4\u10db\u10d3\u10d4\u10d2 1987 \u10ec\u10da\u10d8\u10d3\u10d0\u10dc \u10db\u10d0\u10d7 \u10db\u10e3\u10e8\u10d0\u10dd\u10d1\u10d0 Goldman Sachs-\u10e8\u10d8 \u10d2\u10d0\u10d0\u10d2\u10e0\u10eb\u10d4\u10da\u10d4\u10e1, \u10e1\u10d0\u10d3\u10d0\u10ea 1994 \u10ec\u10da\u10d0\u10db\u10d3\u10d4 \u10db\u10e3\u10e8\u10d0\u10dd\u10d1\u10d3\u10dc\u10d4\u10dc, \u10d0\u10db\u10d8\u10e1 \u10e8\u10d4\u10db\u10d3\u10d4\u10d2 \u10d2\u10d0\u10d3\u10d0\u10d5\u10d8\u10d3\u10dc\u10d4\u10dc Phibro-\u10e8\u10d8, \u10e0\u10dd\u10db\u10d4\u10da\u10e1\u10d0\u10ea Salomon Brothers-\u10d8\u10e1 \u10db\u10d0\u10e0\u10d7\u10d0\u10d5\u10d3\u10d0. \u201e\u10d0\u10e5 \u10d5\u10d8\u10e1\u10ec\u10d0\u10d5\u10da\u10d4\u10d7 \u10e9\u10d5\u10d4\u10dc \u10d5\u10d0\u10ed\u10e0\u10dd\u10d1\u10d0\u201c – \u10d2\u10d0\u10dc\u10d0\u10ea\u10ee\u10d0\u10d3\u10d0 \u10d4\u10e0\u10d7-\u10d4\u10e0\u10d7 \u10d8\u10dc\u10e2\u10d4\u10e0\u10d5\u10d8\u10e3\u10e8\u10d8 \u10d3\u10e3\u10dc\u10d0\u10dc\u10d3\u10db\u10d0. <\/p>\n

\"MERKURIA\"<\/a><\/p>\n

\u10d0\u10db\u10d8\u10e1 \u10e8\u10d4\u10db\u10d3\u10d4\u10d2 \u10d3\u10e3\u10dc\u10d0\u10dc\u10d3\u10db\u10d0 \u10d3\u10d0 \u10ef\u10d4\u10d8\u10d2\u10d8\u10db \u10e1\u10d0\u10d9\u10e3\u10d7\u10d0\u10e0\u10d8 \u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d0 \u10d3\u10d0\u10d0\u10d0\u10e0\u10e1\u10d4\u10e1 1999 \u10ec\u10d4\u10da\u10e1, \u10e0\u10dd\u10db\u10d4\u10da\u10d8\u10ea \u10d4\u10d5\u10e0\u10dd\u10de\u10d0\u10e1\u10d0 \u10d3\u10d0 \u10d0\u10d6\u10d8\u10d0\u10e8\u10d8 \u10e1\u10d0\u10d5\u10d0\u10ed\u10e0\u10dd \u10d1\u10d8\u10d6\u10dc\u10d4\u10e1\u10d8\u10d7 \u10d8\u10e7\u10dd \u10d3\u10d0\u10d9\u10d0\u10d5\u10d4\u10d1\u10e3\u10da\u10d8. 2004 \u10ec\u10d4\u10da\u10e1 \u10d3\u10d0\u10d0\u10d0\u10e0\u10e1\u10d4\u10e1 Mercuria. \u10e1\u10d0\u10e5\u10db\u10d8\u10d0\u10dc\u10dd\u10d1\u10d8\u10e1 \u10de\u10d8\u10e0\u10d5\u10d4\u10da \u10d4\u10e2\u10d0\u10de\u10d6\u10d4 \u10d8\u10e1\u10d8\u10dc\u10d8 \u10e0\u10e3\u10e1\u10d4\u10d7\u10e8\u10d8, \u10e9\u10d8\u10dc\u10d4\u10d7\u10e1\u10d0 \u10d3\u10d0 \u10de\u10dd\u10da\u10dd\u10dc\u10d4\u10d7\u10e8\u10d8 \u10d5\u10d0\u10ed\u10e0\u10dd\u10d1\u10d3\u10dc\u10d4\u10dc. \u10d3\u10e3\u10dc\u10d0\u10dc\u10d3\u10d8 \u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d8\u10e1 \u10e3\u10e4\u10e0\u10dd \u10e1\u10d0\u10ef\u10d0\u10e0\u10dd \u10db\u10ee\u10d0\u10e0\u10d4\u10d0, \u10e0\u10dd\u10db\u10d4\u10da\u10d8\u10ea \u10ee\u10e8\u10d8\u10e0\u10d0\u10d3 \u10e9\u10d0\u10dc\u10e1 \u10db\u10d4\u10d3\u10d8\u10d0\u10e1\u10d0\u10e8\u10e3\u10d0\u10da\u10d4\u10d1\u10d4\u10d1\u10e8\u10d8 \u10d3\u10d0 \u10db\u10dd\u10da\u10d0\u10de\u10d0\u10e0\u10d0\u10d9\u10d4\u10d1\u10d4\u10d1\u10d8\u10e1 \u10db\u10d0\u10d2\u10d8\u10d3\u10d0\u10d6\u10d4, \u10ef\u10d4\u10d8\u10d2\u10d8 \u10d9\u10d8 \u10d4.\u10ec. \u201e\u10d1\u10d4\u10e5\u10d2\u10e0\u10d0\u10e3\u10dc\u10d3\u10d8\u10e1\u201c \u10db\u10dd\u10d7\u10d0\u10db\u10d0\u10e8\u10d4\u10d0, \u10e0\u10dd\u10db\u10d4\u10da\u10d8\u10ea \u10e1\u10d0\u10ef\u10d0\u10e0\u10dd \u10d0\u10e1\u10de\u10d0\u10e0\u10d4\u10d6\u10d6\u10d4 \u10e8\u10d4\u10d3\u10d0\u10e0\u10d4\u10d1\u10d8\u10d7 \u10d8\u10e8\u10d5\u10d8\u10d0\u10d7\u10d0\u10d3 \u10e9\u10d0\u10dc\u10e1.
\nJPMorgan-\u10d7\u10d0\u10dc \u10db\u10dd\u10da\u10d0\u10de\u10d0\u10e0\u10d0\u10d9\u10d4\u10d1\u10d4\u10d1\u10db\u10d0 Mercuria \u10d8\u10eb\u10e3\u10da\u10d4\u10d1\u10e3\u10da\u10d8 \u10d2\u10d0\u10ee\u10d0\u10d3\u10d0 \u10e1\u10ee\u10d5\u10d0 \u10db\u10dd\u10da\u10d0\u10de\u10d0\u10e0\u10d0\u10d9\u10d4\u10d1\u10d4\u10d1\u10d8 \u10e8\u10d4\u10d4\u10e9\u10d4\u10e0\u10d4\u10d1\u10d8\u10dc\u10d0. \u10d8\u10e1 \u10d0\u10ee\u10da\u10dd\u10e1 \u10d8\u10e7\u10dd \u10e8\u10d4\u10d4\u10eb\u10d8\u10dc\u10d0 \u10e9\u10d8\u10dc\u10d4\u10d7\u10d8\u10e1 \u10e1\u10e3\u10d5\u10d4\u10e0\u10d4\u10dc\u10e3\u10da\u10d8 \u10e4\u10dd\u10dc\u10d3\u10d8\u10e1 State Development & Investment Co.-\u10e1 10-20%-\u10d8\u10d0\u10dc\u10d8 \u10ec\u10d8\u10da\u10d8, \u10db\u10d0\u10d2\u10e0\u10d0\u10db \u10d0\u10db\u10df\u10d0\u10db\u10d0\u10d3 \u10d0\u10db\u10d8\u10e1 \u10e8\u10d4\u10e1\u10d0\u10ee\u10d4\u10d1 \u10db\u10dd\u10da\u10d0\u10de\u10d0\u10e0\u10d0\u10d9\u10d4\u10d1\u10d4\u10d1\u10d8 \u10e8\u10d4\u10e9\u10d4\u10e0\u10d4\u10d1\u10e3\u10da\u10d8\u10d0. <\/p>\n

\u10e0\u10dd\u10d2\u10dd\u10e0\u10ea \u10d3\u10d0\u10e1\u10d0\u10d5\u10da\u10d4\u10da\u10d8 \u10d0\u10dc\u10d0\u10da\u10d8\u10e2\u10d8\u10d9\u10dd\u10e1\u10d4\u10d1\u10d8 \u10ec\u10d4\u10e0\u10d4\u10dc, \u10db\u10d8\u10e1 \u10d9\u10dd\u10dc\u10d9\u10e3\u10e0\u10d4\u10dc\u10e2\u10d4\u10d1\u10d7\u10d0\u10dc \u10e8\u10d4\u10d3\u10d0\u10e0\u10d4\u10d1\u10d8\u10d7 \u10db\u10d4\u10e0\u10d9\u10e3\u10e0\u10d8\u10d0 \u10e8\u10d4\u10d8\u10eb\u10da\u10d4\u10d1\u10d0 \u201e\u10d1\u10d0\u10d5\u10e8\u10d5\u10d0\u10d3\u201c \u10db\u10dd\u10d5\u10dc\u10d0\u10d7\u10da\u10dd\u10d3. \u10d8\u10e1 \u10db\u10ee\u10dd\u10da\u10dd\u10d3 10 \u10ec\u10da\u10d8\u10e1\u10d0\u10d0, \u10db\u10d0\u10e8\u10d8\u10dc \u10e0\u10dd\u10ea\u10d0 \u10db\u10d8\u10e1\u10d8 \u10db\u10d7\u10d0\u10d5\u10d0\u10e0\u10d8 \u10d9\u10dd\u10dc\u10d9\u10e3\u10e0\u10d4\u10dc\u10e2\u10d4\u10d1\u10d8, \u10db\u10d0\u10d2\u10d0\u10da\u10d8\u10d7\u10d0\u10d3, Vitol 1966 \u10ec\u10d4\u10da\u10e1 \u10d3\u10d0\u10d0\u10e0\u10e1\u10d3\u10d0, Glencore – 1974 \u10ec\u10d4\u10da\u10e1, Trafigura – 1993 \u10ec\u10d4\u10da\u10e1, Gunvor \u10d9\u10d8 2000 \u10ec\u10d4\u10da\u10e1. <\/p>\n

\u10d1\u10dd\u10da\u10dd \u10ec\u10da\u10d4\u10d1\u10e8\u10d8 \u10d1\u10d4\u10d5\u10e0\u10d8 \u10db\u10d8\u10d8\u10e9\u10dc\u10d4\u10d5\u10d3\u10d0, \u10e0\u10dd\u10db \u10e4\u10d8\u10dc\u10d0\u10dc\u10e1\u10e3\u10e0 \u10d3\u10d0 \u10e1\u10d0\u10db\u10dd\u10db\u10ee\u10db\u10d0\u10e0\u10d4\u10d1\u10da\u10dd \u10d1\u10d0\u10d6\u10e0\u10d4\u10d1\u10d6\u10d4 \u10d3\u10e0\u10dd\u10d8\u10e1 \u10e3\u10db\u10dd\u10d9\u10da\u10d4\u10e1 \u10de\u10d4\u10e0\u10d8\u10dd\u10d3\u10e8\u10d8 \u10d2\u10d0\u10db\u10d3\u10d8\u10d3\u10e0\u10d4\u10d1\u10e3\u10da \u10db\u10d4\u10dc\u10d4\u10ef\u10d4\u10e0\u10d7\u10d0 \u10ee\u10d0\u10dc\u10d0 \u10ec\u10d0\u10e0\u10e1\u10e3\u10da\u10e1 \u10e9\u10d0\u10d1\u10d0\u10e0\u10d3\u10d0. <\/p>\n

\u10d1\u10d4\u10d5\u10e0\u10d8 \u10e4\u10d8\u10e5\u10e0\u10dd\u10d1\u10d3\u10d0, \u10e0\u10dd\u10db 90-\u10d8\u10d0\u10dc \u10ec\u10da\u10d4\u10d1\u10d7\u10d0\u10dc \u10e8\u10d4\u10d3\u10d0\u10e0\u10d4\u10d1\u10d8\u10d7 \u10d3\u10e6\u10d4\u10e1 \u10d1\u10d0\u10d6\u10e0\u10d4\u10d1\u10d8 \u10d2\u10d0\u10ea\u10d8\u10da\u10d4\u10d1\u10d8\u10d7 \u10d9\u10dd\u10dc\u10d9\u10e3\u10e0\u10d4\u10dc\u10e2\u10e3\u10da\u10d8\u10d0 \u10d3\u10d0 \u10db\u10dd\u10d2\u10d4\u10d1\u10d8\u10e1 \u10db\u10d0\u10e0\u10df\u10d0\u10ea \u10db\u10dc\u10d8\u10e8\u10d5\u10dc\u10d4\u10da\u10dd\u10d5\u10dc\u10d0\u10d3\u10d0\u10d0 \u10e8\u10d4\u10db\u10ea\u10d8\u10e0\u10d4\u10d1\u10e3\u10da\u10d8. \u10d0\u10db\u10d8\u10e2\u10dd\u10db\u10d0\u10ea \u10d1\u10d0\u10e4\u10d4\u10e2\u10d8\u10e1, \u10e1\u10dd\u10e0\u10dd\u10e1\u10d8\u10e1, \u10de\u10dd\u10e3\u10da\u10e1\u10dd\u10dc\u10d8\u10e1 \u10d3\u10d0 \u10db\u10d0\u10d7\u10d8 \u10db\u10e1\u10d2\u10d0\u10d5\u10e1\u10d8 \u10d8\u10dc\u10d5\u10d4\u10e1\u10e2\u10dd\u10e0\u10d4\u10d1\u10d8\u10e1 \u10db\u10ec\u10d5\u10d4\u10e0\u10d5\u10d0\u10da\u10d4\u10d1\u10d8\u10e1 \u10db\u10d8\u10e6\u10ec\u10d4\u10d5\u10d8\u10e1 \u10d0\u10da\u10d1\u10d0\u10d7\u10dd\u10d1\u10d0 \u10dc\u10d0\u10d9\u10da\u10d4\u10d1\u10d8\u10d0. \u10d3\u10e3\u10dc\u10d0\u10dc\u10d3\u10d8\u10e1\u10d0 \u10d3\u10d0 \u10ef\u10d4\u10d8\u10d2\u10d8\u10e1 \u10d2\u10d0\u10db\u10dd\u10ea\u10d3\u10d8\u10da\u10d4\u10d1\u10d0\u10db \u10d0\u10db \u10db\u10dd\u10e1\u10d0\u10d6\u10e0\u10d4\u10d1\u10d0\u10e1 \u10e1\u10d4\u10e0\u10d8\u10dd\u10d6\u10e3\u10da\u10d8 \u10d1\u10d6\u10d0\u10e0\u10d8 \u10d2\u10d0\u10e3\u10e9\u10d8\u10dc\u10d0.<\/p><\/blockquote>\n

\u10d8\u10e1\u10d8\u10dc\u10d8 21-\u10d4 \u10e1\u10d0\u10e3\u10d9\u10e3\u10dc\u10d8\u10e1 \u201e\u10e0\u10e3\u10ee\u10d8 \u10d9\u10d0\u10e0\u10d3\u10d8\u10dc\u10d0\u10da\u10d4\u10d1\u10d8\u201c \u10d0\u10e0\u10d8\u10d0\u10dc, \u10e0\u10dd\u10db\u10d4\u10da\u10d7\u10d0 \u10e1\u10d0\u10e5\u10db\u10d8\u10d0\u10dc\u10dd\u10d1\u10d8\u10e1\u10d0 \u10d3\u10d0 \u10ec\u10d0\u10e0\u10db\u10d0\u10e2\u10d4\u10d1\u10d8\u10e1 \u10e8\u10d4\u10e1\u10d0\u10ee\u10d4\u10d1 \u10ef\u10d4\u10e0 \u10d8\u10e1\u10d4\u10d5 \u10ea\u10dd\u10e2\u10d0\u10db \u10d8\u10ea\u10d8\u10e1, \u10db\u10d8\u10e3\u10ee\u10d4\u10d3\u10d5\u10d0\u10d3 \u10d0\u10db\u10d8\u10e1\u10d0, \u10e3\u10d9\u10d5\u10d4 100 \u10db\u10d8\u10da\u10d8\u10d0\u10e0\u10d3\u10d8\u10d0\u10dc\u10d8 \u10d1\u10e0\u10e3\u10dc\u10d5\u10d8\u10e1 \u10db\u10e5\u10dd\u10dc\u10d4 \u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d8\u10e1 \u10db\u10d4\u10e1\u10d0\u10d9\u10e3\u10d7\u10e0\u10d4\u10d4\u10d1\u10d8 \u10d0\u10e0\u10d8\u10d0\u10dc. <\/p>\n","protected":false},"excerpt":{"rendered":"

\u10db\u10d0\u10e0\u10d9\u10dd \u10d3\u10e3\u10dc\u10d0\u10dc\u10d3\u10db\u10d0 \u10d3\u10d0 \u10d3\u10d0\u10dc\u10d8\u10d4\u10da \u10ef\u10d4\u10d8\u10d2\u10d8\u10db 10-\u10d9\u10d0\u10ea\u10d8\u10d0\u10dc\u10d8 \u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d0, \u10e0\u10dd\u10db\u10d4\u10da\u10d8\u10ea \u10dd\u10e0 \u10de\u10dd\u10da\u10dd\u10dc\u10e3\u10e0 \u10e5\u10d0\u10e0\u10ee\u10d0\u10dc\u10d0\u10e1 \u10dc\u10d0\u10d5\u10d7\u10dd\u10d1\u10d8\u10d7 \u10d0\u10db\u10d0\u10e0\u10d0\u10d2\u10d4\u10d1\u10d3\u10d0, \u10d3\u10d0\u10d0\u10ee\u10da\u10dd\u10d4\u10d1\u10d8\u10d7 10 \u10ec\u10da\u10d8\u10e1 \u10d2\u10d0\u10dc\u10db\u10d0\u10d5\u10da\u10dd\u10d1\u10d0\u10e8\u10d8, \u10db\u10e1\u10dd\u10e4\u10da\u10d8\u10dd\u10e1 \u10db\u10d4\u10dd\u10d7\u10ee\u10d4 \u10e3\u10db\u10e1\u10ee\u10d5\u10d8\u10da\u10d4\u10e1<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[30],"tags":[],"yoast_head":"\n21-\u10d4 \u10e1\u10d0\u10e3\u10d9\u10e3\u10dc\u10d8\u10e1 \u201e\u10e0\u10e3\u10ee\u10d8 \u10d9\u10d0\u10e0\u10d3\u10d8\u10dc\u10d0\u10da\u10d4\u10d1\u10d8\u201c - \u10e1\u10d0\u10e5\u10d0\u10e0\u10d7\u10d5\u10d4\u10da\u10dd\u10e1 \u10d4\u10d9\u10dd\u10dc\u10dd\u10db\u10d8\u10d9\u10d0<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/geoeconomics.ge\/?p=7108\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"21-\u10d4 \u10e1\u10d0\u10e3\u10d9\u10e3\u10dc\u10d8\u10e1 \u201e\u10e0\u10e3\u10ee\u10d8 \u10d9\u10d0\u10e0\u10d3\u10d8\u10dc\u10d0\u10da\u10d4\u10d1\u10d8\u201c - \u10e1\u10d0\u10e5\u10d0\u10e0\u10d7\u10d5\u10d4\u10da\u10dd\u10e1 \u10d4\u10d9\u10dd\u10dc\u10dd\u10db\u10d8\u10d9\u10d0\" \/>\n<meta property=\"og:description\" content=\"\u10db\u10d0\u10e0\u10d9\u10dd \u10d3\u10e3\u10dc\u10d0\u10dc\u10d3\u10db\u10d0 \u10d3\u10d0 \u10d3\u10d0\u10dc\u10d8\u10d4\u10da \u10ef\u10d4\u10d8\u10d2\u10d8\u10db 10-\u10d9\u10d0\u10ea\u10d8\u10d0\u10dc\u10d8 \u10d9\u10dd\u10db\u10de\u10d0\u10dc\u10d8\u10d0, \u10e0\u10dd\u10db\u10d4\u10da\u10d8\u10ea \u10dd\u10e0 \u10de\u10dd\u10da\u10dd\u10dc\u10e3\u10e0 \u10e5\u10d0\u10e0\u10ee\u10d0\u10dc\u10d0\u10e1 \u10dc\u10d0\u10d5\u10d7\u10dd\u10d1\u10d8\u10d7 \u10d0\u10db\u10d0\u10e0\u10d0\u10d2\u10d4\u10d1\u10d3\u10d0, \u10d3\u10d0\u10d0\u10ee\u10da\u10dd\u10d4\u10d1\u10d8\u10d7 10 \u10ec\u10da\u10d8\u10e1 \u10d2\u10d0\u10dc\u10db\u10d0\u10d5\u10da\u10dd\u10d1\u10d0\u10e8\u10d8, \u10db\u10e1\u10dd\u10e4\u10da\u10d8\u10dd\u10e1 \u10db\u10d4\u10dd\u10d7\u10ee\u10d4 \u10e3\u10db\u10e1\u10ee\u10d5\u10d8\u10da\u10d4\u10e1\" \/>\n<meta property=\"og:url\" content=\"https:\/\/geoeconomics.ge\/?p=7108\" \/>\n<meta property=\"og:site_name\" content=\"\u10e1\u10d0\u10e5\u10d0\u10e0\u10d7\u10d5\u10d4\u10da\u10dd\u10e1 \u10d4\u10d9\u10dd\u10dc\u10dd\u10db\u10d8\u10d9\u10d0\" \/>\n<meta property=\"article:published_time\" content=\"2014-03-13T14:09:19+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/geoeconomics.ge\/wp-content\/uploads\/2014\/03\/MERKURIA.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"http:\/\/geoeconomics.ge\/#website\",\"url\":\"http:\/\/geoeconomics.ge\/\",\"name\":\"\\u10e1\\u10d0\\u10e5\\u10d0\\u10e0\\u10d7\\u10d5\\u10d4\\u10da\\u10dd\\u10e1 \\u10d4\\u10d9\\u10dd\\u10dc\\u10dd\\u10db\\u10d8\\u10d9\\u10d0\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"http:\/\/geoeconomics.ge\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/geoeconomics.ge\/?p=7108#primaryimage\",\"inLanguage\":\"en-GB\",\"url\":\"http:\/\/geoeconomics.ge\/wp-content\/uploads\/2014\/03\/MERKURIA.jpg\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/geoeconomics.ge\/?p=7108#webpage\",\"url\":\"https:\/\/geoeconomics.ge\/?p=7108\",\"name\":\"21-\\u10d4 \\u10e1\\u10d0\\u10e3\\u10d9\\u10e3\\u10dc\\u10d8\\u10e1 \\u201e\\u10e0\\u10e3\\u10ee\\u10d8 \\u10d9\\u10d0\\u10e0\\u10d3\\u10d8\\u10dc\\u10d0\\u10da\\u10d4\\u10d1\\u10d8\\u201c - 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