A complaint filed in October 2007 by two NGOs, Save Taman! and North Caucasus Environmental Watch, raises concerns about the impacts of Russkiy Mir II, a project involving the lease of rail tank cars to major oil companies for the transport of petroleum products. The NGOs believe the company’s activities pose a number of threats to the natural and social environment in the region surrounding the Taman Peninsula. The complaint questions IFC’s environmental categorization of the project as “B” – rather than “A”, and maintains that the environmental review process failed to comply with IFC performance standards.  

The Russkiy Mir II project involves an IFC loan of up to $100 million to develop and build the Taman LPG/Fuel Oil terminal and port in the Black Sea; to purchase and expand rail maintenance facilities, purchase locomotives and rail cars, and to purchase a wheel-making / spare-parts manufacturer and other rail-related infrastructure. IFC’s investments consist of a $45 million A-loan for IFC’s own account, and a $55 million B-loan for the account of B-loan participants. It is IFC’s second investment in the Russkiy Mir Group; a $15 million A-loan was approved in April 2004.