The backbone of MiddleSex’s financial services operations is the 40% owned Interfin (Interbank Investment and Finance Company). The remaining 60% is held by GAZPROM (20%), OEMK(20%) and Mapo Bank(20%). MiddleSex’s financial services include: • trading in Russian capital markets; • financial advise to western companies or potential business in Russia, and • advice to Russian companies entering western capital markets. Established in late 1994, Interfin commenced by trading in Russian treasury. Initial returns were good and Interfin quickly made substantial profits, which enabled the company to start bying stakes in various Russian companies. As a result, Interfin has built an impressive asset base of which the company estimated to be in excess of US$300m.