Russia: subject to sanctions, oligarch Timchenko withdraws from Novatek – 03/21/2022 at 10:38

0
147
Russia: subject to sanctions, oligarch Timchenko withdraws from Novatek - 03/21/2022 at 10:38

Gennady Timchenko, co-founder of the Gunvor group and close to Vladimir Putin, on January 31, 2018 in Moscow (POOL / MAXIM SHEMETOV)

Gennady Timchenko, co-founder of the Gunvor group and close to Vladimir Putin, on January 31, 2018 in Moscow (POOL / MAXIM SHEMETOV)

Russian oligarch Gennady Timchenko, a close associate of President Vladimir Putin targeted by Western sanctions linked to Ukraine, has resigned from the board of directors of the gas giant Novatek, the company announced on Monday.

“Gennadi Timchenko has decided to resign from the company’s board of directors effective March 21,” Novatek said in a statement. No explanation was given.

Billionaire co-founder of Gunvor, a commodity trading company, Mr. Timchenko is targeted by European sanctions in connection with the Russian military offensive in Ukraine.

The assets in the EU and in the United Kingdom of this 69-year-old businessman have notably been frozen. In early March, a yacht belonging to him, the “Lena”, worth around 50 million euros, was seized in Italy.

Novatek is the leading producer and exporter of Russian liquefied natural gas. The group is nearly 10% owned by the Russian giant Gazprom and 19.4% by the French group TotalEnergies.

.

LEAVE A REPLY

Please enter your comment!
Please enter your name here