Add to favorite
 
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Timchenko Brought Cash Back to Russia
12.04.2014 21:11
Timchenko Brought Cash Back to Russia
Photo Credit: http://www.infiniteunknown.net

Gennady Timchenko, a former Gunvor co-owner and alleged close friend of the Russian president, has confessed he had moved his funds back into Russia ahead of the sanctions.

      Timchenko, one of the people targeted by US sanctions, sold off his stake in Gunvor just a day or two before his name was placed on the black list by the US Treasury.

      According to the US Treasury, “Timchenko’s activities in the energy sector have been directly linked to Putin. Putin has investments in Gunvor and may have access to Gunvor funds.”

      Gunvor came out to announce that Timchenko, worth $8.4 billion on Bloomberg’s Billionaire Index, sold his 44 percent stake to his partner, Torbjorn Tornqvist.

      The Geneva-based company employs a staff of 1,600 in more than 20 locations worldwide, sourcing from more than 35 countries. In 2012, it earned $93 billion.

      According to @Gunvor, the firm’s official Twitter account, “Pres. Putin has not and never has had any ownership, beneficial or otherwise in Gunvor. He is not a beneficiary of Gunvor or its activities.”

      Pursuant to Executive Order 13661 signed by President Obama on March 16, 2014, the US Treasury will freeze any of assets belonging to 20 Russian individuals and one bank within U.S. jurisdiction and prohibit any transactions with them.

      Among them are 16 officials, including Viktor Ozerov, Vladimir Dzhabarov, Evgeny Bushmin, Nikolai Ryzhkov, Sergey Zheleznyak, Sergey Mironov, Aleksandr Totoonov, Oleg Panteleev, Sergey Naryshkin, Viktor Ivanov, Igor Sergun, Sergei Ivanov, AlexeyGromov, Andrey Fursenko, Vladimir Yakunin, and Vladimir Kozhin. Also on the list are four “members of the inner circle”, including Gennady Timchenko, Arkady Rotenberg, Boris Rotenberg, and Yury Kovalchuk.

      These individuals being designated because each is controlled by, has acted for or on behalf of, or has provided material or other support to, a senior Russian government official.

       




Author: Mikhail Vesely

Tags: Gennady Timchenko Ukraine crisis Crimea US sanctions  

Next Previous


You might also find interesting:








Comment on our site


RSS   twitter      submit



TAGS:
Monuments in Moscow  Arkhangelsk  Russian banks  Ada Yakusheva  Moscow  Mercedes-Benz Fashion Week Russia  Krasnodar Territory  medicine  LUKoil   Russian business  Moscow Aeroexpress   Russian economy  Gazprom  Fairs in Moscow  Viktor Pivovarov  Tourist maps  Autonomous Video Surveillance System  economic crisis  Sergey Lukyanenko  Russias GDP  Russian scientists  Moscow parks  Exhibitions in Moscow  Russian gas  Lesozavodsk  young scientists  Russian Cinema  Tchaikovsky Competition  Tourism Navigation  Russian transport  Russian oligarchs  Russian football  Vologda Architecture  Marat Babin  Demidovs' Mansion  Opposition  Russian Arts and Crafts  Russian hockey  Donald Trump  Science  Mistral ships  Russian planes  Russian tourism  Nature Reserves  St. Petersburg  Kandinsky Award  Russian science  Mountain Shoria  travel to Russia  APEC 


Travel Blogs
Top Traveling Sites