File - In this Thursday, Aug. 18, 2011 photo, the Prirazlomnaya platform is towed from Murmansk to an oilfield in the Pechora Sea, northern Russia. (AP Photo/Andrei Pronin)
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Russian expansionism is going into reverse, at least on the London stock market. Three of Russia's major commodity-related companies are already preparing to withdraw their listings after the bursting of the raw-materials boom and a slump in share sales by the nation's companies from more than $30 billion in 2007 to below $1 billion this year.Total equity sales by Russian companies this year are set to be about 30 times lower than the 2007 peak, when global commodity prices were about 90 percent higher than current levels.Polyus planned to merge with a global rival to become one of the world's top three gold miners, billionaire Mikhail Prokhorov, who controlled the company at the time, said in December 2010 .Eurasia Drilling shares plunged about 55 percent in the past 12 months in London trading.At Uralkali, down 11 percent in the past year in London but up 34 percent in Moscow as the ruble slumped, the company's board says it's moving its focus to the Russian listing because of greater levels of investor interest and liquidity on the domestic market.
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