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December 21, 2007
Putin On The Ritz
I'm shocked, shocked that there is corruption in politics! Oh, Mr. President, here are your winnings
An unprecedented battle is taking place inside the Kremlin in advance of Vladimir Putin's departure from office, the Guardian has learned, with claims that the president presides over a secret multibillion-dollar fortune.Rival clans inside the Kremlin are embroiled in a struggle for the control of assets as Putin prepares to transfer power to his hand-picked successor, Dmitry Medvedev, in May, well-placed political observers and other sources have revealed.
At stake are billions of dollars in assets belonging to Russian state-run corporations. Additionally, details of Putin's own personal fortune, reportedly hidden in Switzerland and Liechtenstein, are being discussed for the first time.
...Citing sources inside the president's administration, Belkovsky claims that after eight years in power Putin has secretly accumulated more than $40bn (£20bn). The sum would make him Russia's - and Europe's - richest man.
In an interview with the Guardian, Belkovsky repeated his claims that Putin owns vast holdings in three Russian oil and gas companies, concealed behind a "non-transparent network of offshore trusts".
Putin "effectively" controls 37% of the shares of Surgutneftegaz, an oil exploration company and Russia's third biggest oil producer, worth $20bn, he says. He also owns 4.5% of Gazprom, and "at least 75%" of Gunvor, a mysterious Swiss-based oil trader, founded by Gennady Timchenko, a friend of the president's, Belkovsky alleges.
I wonder if he used Hillary's cattle trader?
Posted by Mr. Bingley at December 21, 2007 08:36 AM