Russian Tycoon Dumps Shares To Beat US Sanctions Rap

Timchenko offloaded all his shares in the company he co-founded after "anticipating potential economic sanctions," a Gunvor statement said.
Russian Tycoon Dumps Shares To Beat US Sanctions Rap
By Susie Madrak — March 21, 2014

Via AFP:

Russian billionaire Gennady Timchenko sold his stake in Gunvor a day before being named in sanctions announced by the United States over the Ukraine crisis, the Swiss-based commodity trading company said Thursday.

Forbes has ranked oil and gas tycoon Timchenko as Russia's sixth richest man, with a $15.3 billion fortune from Gunvor.

Timchenko, reputedly a close confidant of Russian President Vladimir Putin, offloaded all his shares in the company he co-founded after "anticipating potential economic sanctions" a Gunvor statement said.

On Thursday, the US Treasury placed the 61-year-ol...

Continue reading...

Can you help us out?

For nearly 20 years we have been exposing Washington lies and untangling media deceit, but now Facebook is drowning us in an ocean of right wing lies. Please give a one-time or recurring donation, or buy a year's subscription for an ad-free experience. Thank you.

Become a subscriber:
 
Make a donation:

If you don't mind the ads and would rather donate, please select one of the options below:

Kindest
Donate via PayPal
Via Snail Mail
payable to: Crooksandliars
528 Palisades Drive
Ste 548
Pacific Palisades, CA 90272

Explore more

Discussion

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service for information on our posting policy.
Mastodon