Dubai is backing a Kremlin-linked energy company in an offer to buy the last and biggest of Russia's wholesale power-generating companies in a potential $5bn-plus deal that could mark the first strategic foray into Russia by a Middle Eastern fund. Anatoly Chubais, Russia's former privatisation chief and chief executive of Unified Energy Systems, said on Monday that Roskommunenergo, a Russian energy company, had joined Dubai World the investment arm of the United Arab Emirates to offer to buy OGK-1. Mr Chubais said Roskommunenergo had offered to buy the power generation company, which spans generators in European Russia and western Siberia, for $516 per kilowatt, a sum that would value the total deal at $5.3bn. He added that Dubai World had issued a $100m guarantee to signal financing can be secured. His comments followed his break-up of UES, which had been an inefficient state-controlled electricity monopoly until Mr Chubais began the biggest liberalisation of Vladimir Putin's presidency. His reform