When German Khan, a Gun-Toting Oligarch,And

Total Page:16

File Type:pdf, Size:1020Kb

When German Khan, a Gun-Toting Oligarch,And Eaton mess Text by Mark Hollingsworth When German Khan, a gun-toting oligarch, and his ex-air hostess wife Angelika, sacked Chelsea interior designer Carole Langton, he expected her to go quietly. But Carole is made of stronger stuff and dragged the Russian to court. Swatch team From top left: German Khan; his wife Angelika; Carole £££ later, who’s winning? Langton trange things happen revealed a full set of gold teeth. But just as to be heard next year and the proceedings when you fall out with a Langton became uneasy, two policemen will provide a rare glimpse into the Russian oligarch. On the walked by and the stranger jumped on his finances and lifestyle of Khan and his afternoon of 19 February motorbike and raced away. family in London. 2009, Carole Langton, Coincidentally, that very morning Langton The odds are stacked against Langton. interior designer to many had sent witness statements to the lawyers She has been a highly regarded interior of Britain’s wealthiest of German Khan, the Russian businessman designer for the last 20 years. Her past tycoons, was working in who has recently invested £74.5 million in clients include Hanson plc and the rock-star- her office on Cheyne Walk, Chelsea, when property in Belgravia, as part of her lawsuit turned-photographer Bryan Adams. For two Sshe noticed an extremely tall, muscle-bound for unpaid fees. While there is no evidence years Langton, who describes her style as man park his motorbike directly outside. whatsoever that the mysterious biker was ‘classically traditional’, renovated and re- She had never seen him before. Dressed linked to Khan, it was an unnerving and decorated a vast apartment in Eaton Square from head to toe in black leather, he looked chilling experience. owned by Elliott Bernerd, the property like a character from Eastern Promises, the For the past two years, Langton has been entrepreneur. In 1992, soon after moving in, dark thriller about the Russian mafia in Lon- locked in a bitter legal dispute with Khan Bernerd was visited by Wafic Said, the don. He walked over to Langton’s office and his wife Angelika over her gutting and Syrian financier and middleman in interna- window and stared directly at her for several renovation of their £13.5 million duplex tional arms deals. Said was so enchanted by Jeremy Young. Charlie Holding seconds, then smiled. As his lips parted, they apartment in Eaton Square. The case is due the flat that he offered £10 million, despite standard.co.uk/lifestyle ES MAGAZINE 27 there being only 20 years left on the lease. ‘He [Khan] is forcing some of them out,’ a BP personal [sic] directed at how you work,’ he Bernerd quickly accepted. source told the Financial Times. ‘He doesn’t tell wrote in an e-mail later that day. ‘It’s just a mis- But while Langton runs a demonstrably suc- them to go, but forces them into a position understanding from the beginning. Angel[ik]a cessful business, she is up against the fearsome where they don’t have a serious role left.’ Even- has indicated that the payment shall be released Khan who, despite the credit crunch, is still tually a peace deal was signed in January 2009, upon receipt of the information.’ worth $4 billion, according to Forbes. One has but the episode showed the power of Khan in But the Khans then did not pay. Langton to wonder why she has taken him on. She sighs: one of the world’s biggest oil companies. instructed solicitors who issued a writ. From ‘This is unquestionably a matter of principle. Khan has invested much of his wealth over- that moment the Khans made constant Khan is very, very, very rich and very power- seas rather than in Russia. In 2006, he bought demands for more information and outside ful. But we are not going to be intimidated.’ two flats in Eaton Square from the family of the experts to be consulted. The case dragged on Like many oligarchs, Khan, 46, started as a late Lord Lever, a former Labour cabinet min- for months and legal costs have spiralled: ‘over street trader – in his case as a window cleaner ister, for a combined £13.5 million. His wife £120,000 for us and we understand approxi- in Kiev. He made his fortune in the mid-1990s Angelika, a striking blonde former air hostess, mately the same for the Khans,’ says Langton. by linking up with fellow Ukrainian Mikhail Fridman to set up the Alfa Group, which then acquired a lucrative shareholding in the priva- } tisation of the state-owned oil company TNK. Described as tough, ruthless and reclusive, At first the women Khan’s wealth is derived primarily from his got on well. The shareholding in TNK-BP, the $18 billion joint venture set up to exploit Russia’s oilfields. oligarch’s wife adored A keen amateur boxer, Khan carried guns ornate interiors and to business meetings until mid-1999, when a new law banned this practice – according to loved the colours The Economist. He once pulled out a pistol gold and maroon in front of a mayor of a Russian oil town, just to demonstrate inadequate security at City Hall. Today Khan’s office in Moscow is still decorated with his personal gun collection. Details of Khan’s aggressive negotiating ‘These applications demonstrate a cynical style emerged in court documents filed by attempt by wealthy defendants to price the Norex Petroleum, the Canadian oil company claimant out of the courtroom and/or to that has been suing TNK for many years. In a win an adjournment of the trial,’ alleged sworn affidavit, Alex Rotzang, managing Lass Salt Garvin, Langton’s solicitors, in a director of Norex, alleged that Khan physi- witness statement. cally threatened him when they met to In their defence, German and Angelika discuss TNK’s acquisition of Yugraneft, a Khan’s lawyers have strongly denied the Russian subsidiary of Norex. During the allegations and claimed that Langton ‘failed Eastern promises Langton is still seeking payment meeting, Khan told Rotzang that TNK ‘would from Khan for refurbishment work in Eaton Square to complete the work or provide the services run over Yugraneft like a steamroller’ and for which she was contracted’ and ‘failed to ‘eliminate those who go against us’, accord- provide any design concepts or ideas or ing to Rotzang’s affidavit, a claim that has who dresses head-to-toe in Chanel, wanted to drawings which the defendants (the Khans) been vigorously denied. merge the two apartments and use it as a week- could consider and review for approval and In the UK, Khan is best known for his end home. She hired Langton to demolish, comment’. They also claimed that Langton enforcer role in the conflict between TNK and rebuild and decorate the property. ‘produced one storyboard for one room only, BP over control of their joint venture. Last year which was produced extremely late and only he was a key player behind the Russian gov- t first the two women after much pressure from the defendants ernment’s pressure on BP to restructure the got on well. The oli- and their advisors’. company. When BP requested 158 visa renew- garch’s wife made it The dispute will cost hundreds of thousands als for its foreign staff in Russia, Khan only clear that she adored of pounds in legal fees, but Langton is deter- requested 63 from the immigration authorities. ornate interiors and mined to take her case into open court. In effect, this terminated the employment of loved the colours gold For German Khan, money is no issue. On nearly half of BP’s technical experts. In and maroon. The 3 May 2006 he paid $95 million for Dora Maar response, an outraged Bob Dudley, CEO of refurbishment would au Chat, painted by Picasso in 1941. The oli- TNK-BP, tried to sack Khan as the executive be classic Russian OTT opulence. This was garch acquired the painting at Sotheby’s in director, but the requested board meeting Afamiliar territory to Langton and she began New York and made strenuous efforts to dis- never took place. work on the design. But then on 19 April 2007, guise his identity as the purchaser. And then The Russian partners called for Dudley to be Khan terminated the contract, claiming that last year he bought a 13,500sq ft house on Eaton dismissed instead. And then BP’s offices were she ‘was unhappy at not visually being able to Square for £62 million from Lord Harris, the twice raided by the FSB, the Russian security understand the overall concept of the design’. carpet tycoon. He used an offshore company service, and inspected four times by the Labour ‘We were told verbally that we were no longer registered in the Seychelles to make the pur- Ministry. BP’s CEO was interrogated for six on the job – with no explanation,’ says Lang- chase. But such secrecy could be sacrificed if hours at the Ministry of Internal Affairs and ton. ‘I was shocked as we had no idea it was his dispute with Langton Interiors is heard in corporate warfare broke out between BP and going to happen. We had received no com- open court next year. TNK. Dudley went into hiding and the BP plaints with regards to the work.’ As for the indomitable Langton, she insists employees were sent home. In August 2008, a Langton was owed around £100,000 and that she never considered swallowing the Moscow court suspended Dudley as CEO for sent the specifications of the work done so far.
Recommended publications
  • Who Governs the Russian Economy? a Cross-Section of Russia's Largest Corporations
    Kari Liuhto & Peeter Vahtra Who governs the Russian economy? A cross-section of Russia's largest corporations Electronic Publications of Pan-European Institute 12/2009 ISSN 1795 - 5076 Who governs the Russian economy? A cross-section of Russia's largest corporations 1 Kari Liuhto2 and Peeter Vahtra3 12/2009 Electronic Publications of Pan-European Institute http://www.tse.fi/pei 1 We wish to thank the following Finnish research foundations which have made it possible to conduct this report and numerous earlier studies linked with the theme; Emil Aaltonen Foundation, Foundation for Economic Education, Jenny and Antti Wihuri Foundation, The Marcus Wallenberg Economic Foundation and The Paulo Foundation. 2 Kari Liuhto is Professor in International Business and Director of the Pan-European Institute at the Turku School of Economics. His research interests include EU-Russia economic relations, energy relations in particular, foreign investments into Russia and the investments of Russian firms abroad, and economic policy measures of strategic significance. Liuhto has worked as an expert in several Russia-related projects funded by both Finnish institutions and foreign ones, such as the European Commission, the European Parliament, the United Nations, and the World Bank. 3 Peeter Vahtra is a Research Fellow at the Pan-European Institute at the Turku School of Economics. His areas of research expertise include Russia’s energy policy, FDI to and from Russia and Russia’s economic policy. Kari Liuhto and Peeter Vahtra PEI Electronic Publications 12/2009 www.tse.fi/pei __________________________________________________________________________________________ Contents 1. The state has increased its ownership in big business, but left small and medium-sized companies untouched 2 2.
    [Show full text]
  • Investment from Russia Stabilizes After the Global Crisis 1
    Institute of World Economy and International Relations (IMEMO) of Russian Academy of Sciences Investment from Russia stabilizes after the global crisis 1 Report dated June 23, 2011 EMBARGO: The contents of this report must not be quoted or summarized in the print, broadcast or electronic media before June 23, 2011, 3:00 p.m. Moscow; 11 a.m. GMT; and 7 a.m. New York. Moscow and New York, June 23, 2011 : The Institute of World Economy and International Relations (IMEMO) of the Russian Academy of Sciences, Moscow, and the Vale Columbia Center on Sustainable International Investment (VCC), a joint undertaking of the Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of their second joint survey of Russian outward investors today 2. The survey is part of a long-term study of the rapid global expansion of multinational enterprises (MNEs) from emerging markets. The present survey, conducted at the beginning of 2011, covers the period 2007-2009. Highlights Despite the global crisis of the last few years, Russia has remained one of the leading outward investors in the world. The foreign assets of Russian MNEs have grown rapidly and only China and Mexico are further ahead among emerging markets. As the results of our survey show, several non- financial 3 Russian MNEs are significant actors in the world economy. The foreign assets of the 20 leading non-financial MNEs were about USD 107 billion at the end of 2009 (table 1). Their foreign sales 4 were USD 198 billion and they had more than 200,000 employees abroad.
    [Show full text]
  • Case 1:17-Cv-02041 Document 1 Filed 10/03/17 Page 1 of 14
    Case 1:17-cv-02041 Document 1 Filed 10/03/17 Page 1 of 14 UNITED STATES DISTRICT COURT DISTRICT OF COLUMBIA ----------------------------------------------------------------X : MIKHAIL FRIDMAN, PETR AVEN, AND : GERMAN KHAN, : Case No. _____/2017 c/o CARTER LEDYARD & MILBURN LLP : 2 Wall Street : New York, NY 10005, : COMPLAINT : Plaintiffs, : : -v- : : BEAN LLC (A/K/A FUSION GPS) AND : GLENN SIMPSON, : 1700 Connecticut Avenue, Suite 400 : Washington, D.C. 20009, : : Defendants. ----------------------------------------------------------------X COMPLAINT Plaintiffs Mikhail Fridman, Petr Aven, and German Khan, by their attorneys Carter Ledyard & Milburn LLP, allege as follows: INTRODUCTION 1. This is a defamation case brought by three international businessmen who were defamed in widely disseminated political opposition research reports commissioned by political opponents of candidate Donald Trump. The reports (which came to be known as the “Trump Dossier” and the “Dossier”) were published in advance of the 2016 presidential election by the Defendants: the Washington, D.C. based firm Fusion GPS (“Fusion”) and its principal Glenn Simpson, a former journalist specializing in political opposition research. In that role, the Defendants traffic in procuring damaging 8109453.2 Case 1:17-cv-02041 Document 1 Filed 10/03/17 Page 2 of 14 information about political candidates. The reports are gravely damaging in that they falsely accuse the Plaintiffs—and Alfa (“Alfa”), a consortium in which the Plaintiffs are investors—of criminal conduct and alleged cooperation with the “Kremlin” to influence the 2016 presidential election. But neither the Plaintiffs nor Alfa committed any of the acts irresponsibly attributed to them by the Defendants. To the contrary, the Plaintiffs and Alfa are collateral damage in a U.S.
    [Show full text]
  • MIKHAIL FRIDMAN, PETR AVEN, and Date Purchased: May 26, 2017 GERMAN KHAN, Plaintiff Designates New York County As Plaintiffs, the Place of Trial
    _____________________________ below.) INDEX NO. UNASSIGNED CAUTiON THI3 000UNENT OBS NOT YET BEEN SEVIEWED BY THE COUNTY CLUNK. (See RECEIVED NYSCEF: 05/26/2017 NYSCEF DOC. NO. 1 SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK Index No.: MIKHAIL FRIDMAN, PETR AVEN, AND Date Purchased: May 26, 2017 GERMAN KHAN, Plaintiff Designates New York County as the Place of Trial. Plaintiffs, The Basis of the Venue is CPLR § 503(a) and(c). Office Address is in KEN BENSINGER, MIRIAM ELDER, AND MARK SCHOOFS, Defendants. SUMMONS TO THE ABOVE NAMED DEFENDANTS: YOUARE HEREBY SUMMONED to answer the complaint in this action and to serve a copy of your answer, or, if the complaint is not served with this summons, to serve a notice of appearance, on the Plaintiffs’ attorneys within 20 days after service of this summons, exclusive of the day of service (or within 30 days after the service is complete if this summons is not personally delivered to you within the State of New York); and in case of your failure to appear or answer, judgment will be taken against you by default for the relief demanded in the complaint. Dated: New York, New York May 26, 2017 CARTER LEDYARD & MILBURN LLP By: Alan S. Lewis John J. Walsh 2 Wall Street New York, New York 10005 Telephone: (212) 732-3200 Attorneysfor Plaintffs TO: BUzzfEED, INC. 111 East 18th Street New York, New York 10003 New York State court rulec (22 NYCRR §202.5-b(S) (3) ti)) Thie ion coDy of a clasSing filed electronically purcuant to electronic webite, had not yet bean reviewed and which, at the time of its rintout from the court systems authorize the County Clerk to reject aporovad by the County Clerk.
    [Show full text]
  • EXHIBIT 2 Case 1:17-Cv-02041-RJL Document 46-2 Filed 12/11/18 Page 2 of 16
    Case 1:17-cv-02041-RJL Document 46-2 Filed 12/11/18 Page 1 of 16 EXHIBIT 2 Case 1:17-cv-02041-RJL Document 46-2 Filed 12/11/18 Page 2 of 16 RECORD NO. 18-CV-0919 ~ht ~ iEI~ztrirt ut (~tmuh~a cflmzrt nf ‘~n~dz Clerk of the Court Received 12/10/2018 03:55 PM Filed 12/10/2018 03:55 PM MIKHAIL FRIDMAN, PETR AVEN, AND GERMAN KHAN, Appellants, V. ORBIS BUSINESS INTELLIGENCE LIMITED AND CHRISTOPHER STEELE, Appellees. ON APPEAL FROM CASE NO. 2018 CA 002667 B IN THE DISTRICT OF COLUMBIA SUPERIOR COURT, CIVIL DIVISION, THE HONORABLE ANTHONY C. EPSTEIN, JUDGE PRESIDING COURTESY COPY OF BRITISH HIGH COURT FILING *Alan S. Lewis, pro hac vice Kim Hoyt Sperduto J01111 J. Walsh, pro hac vice SPERDuT0 THOMPSON & GA5sLER PLC Madelyn K. White, pro hac vice 1747 Pennsylvania Avenue, NW, Suite 1250 CARTER LEDYARD & MILBuRN LLP Washington, B.C. 20006 2 Wall Street (202) 408-8900 New York, New York 10005 (212) 238-8614 (‘ounsel forAppellants (‘ounselfor Appellants THE LEX GROUP’~ + 1050 Connecticut Avenue, N.W. + Suite 500, #5190 + Washington, D.C. 20036 (202) 955-0001 + (800) 856-4419 4 www.the1exgroup.com Case 1:17-cv-02041-RJL Document 46-2 Filed 12/11/18 Page 3 of 16 IN THE HIGH COURT OF JUSTICE QUEEN’S BENCH DIVISION MEDIA AND COMMUNICATIONS LIST Claim No. HQ18M01646 BETWEEN: (1) PETER AVEN (2) MIKHAIL FRIDMAN (3) GERMAN KHAN -and ORBIS BUSINESS INTELLIGENCE LIMITED Defendant DEFENDANT’S RESPONSE TO PART 18 REQUEST UNDER PARAGRAPH 1 Of “Fusion engaged Orbis to provide the intelligence memoranda because Fusion’s client needed the information contained in those memoranda for the purposes of prospective legal proceedings and/or obtaining legal advice and/or for establishing, exercising or defending legal rights.” Your requests and our responses 1.
    [Show full text]
  • Press Release February 17, 2010
    Press Release February 17, 2010 Vostok Nafta Investment Ltd. Twelve Months Report Covering the Period January 1, 2009–December 31, 2009 - Net result for the period was USD 139.86 mln (January 1, 2008– December 31, 2008: -556.39). Earnings per share was USD 1.40 (-10.32). Net result for the quarter was USD 36.25 mln (-260.23). Earnings per share for the quarter was USD 0.36 (-4.82). - The net asset value of the company was USD 487.62 mln (December 31, 2008: 247.89) on December 31, 2009, corresponding to USD 4.83 (December 31, 2008:5.39) per share. Given a SEK/USD exchange rate of 7.1568 the corresponding values were SEK 3,489.83 mln and SEK 34.56, respectively. - The group’s net asset value per share in USD decreased by 10.36 % over the period January 1, 2009–December 31, 2009. The main cause of the decrease in the NAV per share during the period is the issue of a total of 54,970,074 new shares at an average price (net of transaction costs) of USD 1.81 per share. Excluding the effects from the new share issues the development would have been +40.34%. During the same period the RTS index increased by 133.24% in USD terms. During the quarter October 1, 2009–December 31, 2009 the group’s net asset value per share in USD increased by 8.06% (RTS index: +17.48%). - The number of outstanding shares at the end of the period was 100,990,975.
    [Show full text]
  • Sumit Dutta May 2014
    Sumit Dutta May 2014 learn more at ANwww.OilandGasIQ.com OIL & GAS IQ EBOOK THE OIL & GAS RICH LIST 2014 INTRODUCTION 3 MUKESH AMBANI 4 LEN BLAVATNIK 5 GINA RINEHART 6 MIKHAIL FRIDMAN 7 VIKTOR VEKSELBERG 8 HAROLD HAMM 9 MOHAMMED AL AMOUDI 10 LEONID MIKHELSON 11 JOHN FREDRIKSEN 12 GENNADY TIMCHENKO 13 VAGIT ALEKPEROV 14 ANDREY MELNICHENKO 15 GERMAN KHAN 16 CARRIE PERRODO & FAMILY 17 KLAUS-MICHAEL KUEHNE 18 GEORGE KAISER 19 RICHARD KINDER 20 ALEXEI KUZMICHEV 21 DUNCAN FAMILY 22 LEONID FEDUN 23 THE RICH LIST BY THE NUMBERS 24 SOURCES 26 ABOUT OIL & GAS IQ 27 Published By learn more at www.OilandGasIQ.com THE OIL & GAS RICH LIST 2014 It is fair to say that hydrocarbons make the world go round. If you don't believe that, ask the 20 people that we are about to feature. Although you probably won't be able top get an answer from them by email.... There now are over 1,600 billionaires globally and it comes as no surprise that a significant proportion are involved in oil, gas and its related industries. As we exit the economic downturn it is apparent some players in oil and gas have benefited more than most. The combined wealth of the top 20 individuals in this study is an astonishing $289.7 bn. For those keeping score, that is enough to buy you Chevron outright and still have a healthy $60 bn left over for fun. So what makes a savvy professional into a tycoon? As we are about to reveal, two key factors in the rise from business man to baron are a diversified portfolio and killer timing.
    [Show full text]
  • BP, Russian Billionaires and the Kremlin
    Oxford Energy Comment November 2011 BP, Russian billionaires, and the Kremlin: a Power Triangle that never was By Shamil Yenikeyeff1 The year 2011 will go down in global corporate history as the year when one of the world’s largest energy companies, BP, and the Russian state company, Rosneft, unsuccessfully attempted to form a strategic partnership on Arctic development. This failure was caused by the contractual and legal objections of the AAR consortium – BP’s partners in the Russian oil company TNK–BP. In 2003–5, BP and the AAR consortium led by three billionaires with Russian connections - Mikhail Fridman, Len Blavatnik, and Viktor Vekselberg – merged their Russian oil corporate assets – TNK, Sidanko, and Onako and their subsidiaries – under the umbrella of TNK–BP.2 This joint venture was established on a 50/50 basis, the operation of which required mutual joint decision making. The partners also signed a shareholding agreement on TNK– BP’s right of first refusal in relation to potential future oil and gas projects offered to BP or AAR in Russia and Ukraine. This agreement was subsequently used by AAR to stop the BP–Rosneft deal in international courts. Unfortunately, this was not the first time that BP had been unable to change the way it conducted its business in Russia. The first example occurred in 2007-8 when BP was reported to be keen on having Gazprom as a partner instead of AAR. This move would have transformed the TNK–BP joint venture into Gazprom–BP. This did not transpire. Second, in the spring-summer 2008, there was a turbulent ‘misunderstanding’ between BP and AAR, over the corporate governance and future strategy of their joint venture.
    [Show full text]
  • UNCLASSIFIED Report to Congress Pursuant To
    UNCLASSIFIED Report to Congress Pursuant to Section 241 of the Countering America's Adversaries Througb Sanctions Act of 2017 Regarding Senior Foreign Political Figures and Oligarchs in the Russian Federation and Russian Parastatal Entities January 29, 2018 Section 241 of the Countering America' s Adversaries Tbrough Sanctions Act of 2017 (САА TSA) requires the Secretary of the Treasury, in consultation with the Director of National Intelligence and the Secretary of State, to submit to the appropriate congressional committees 180 days after enactment а detailed report оп senior political figures and oligarchs in the Russian Federation (Section 241 (a)(l )) and on Russian parastatal entities (Section 241 (а)(2)). Pursuant to Section 241(Ь), the report shall Ье submitted in an unclassified form but may have а classified annex. This is the unclassifi.ed portion of the report. Section 241(а)(1) - Senior Foreign Political Figures and Oligarchs in the Russian Federation As required Ьу Section 241 (a)( l)(A) of CAATSA, the Department ofthe Treasury is providing in this unclassified report а list of senior foreign political figures and oligarchs in the Russian Federation, as determined Ьу their closeness to the Russian regime and their net worth. For purposes of this unclassified portion of the report, this determination was made based оп objective criteria related to individuals' official position in the case of senior political figures, or а net worth of $1 billion or more for oligarchs. То determine the list of senior political figures, the Department of the Treasury considered the definition in CAATSA Section 24 1 (с)(2) , which incorporates Ьу reference the definition of "senior foreign political figure" in section 1О10.605 , title 31 of the Code of Federal Regulations.
    [Show full text]
  • TNK-BP: • Building a Company • Building a Brand
    Five Years of TNK-BP: • Building a Company • Building a Brand Denis Kryanin Andrey Chepurnov Corporate HR Director, Director, Operations Resourcing & Recruiting TNK-BP: Equal Ownership and Oversight BPBP Alfa,Alfa, Access,Access, 50% Renova 50% Board of Directors Renova Deputy Chairman – Lord Robertson Chairman – Mikhail Fridman Four Members including Four Members including Audit Committee Chair Compensation Committee Chair President & CEO Dudley Executive Director Vekselberg COO Executive Director COO McVay Khan Summers VP VP EVP EVP EVP Chief EVP CFO EVP EVP EVP EVP EVP Human Comms & Support Strategy Security Legal Field Planning Support & Bus. Upstream Downstream Technology Resources PA Services Counsel Services Perform- Services Development Audit ance EVPBennett Support Services BP TNK External Hire HumanBennett Resources Function 2 Who are the AAR Shareholders? Viktor Vekselberg Renova Group • Metals Len Blavatnik • Property Access Industries • Oil/Gas • Communications an m • Chemicals id Fr p • Telecomms il ou a r g h G in s ik lfa k M A an mm • B co g ele ailin • T et German Khan • R Alfa Group • Banking • Legacy TNK Top Exec 3 Who is the BP Shareholder? • World top 3 private oil company; created through mergers of leading US and European companies • Global operations in North Sea, Gulf of Mexico, North Africa, Angola, Alaska, Trinidad, Azerbaijan • CEO was an original TNK-BP Board Member 2007 Results: • $284 billion in revenue • $18billion in profit • $19 billion in capital spending Browne • 96,000 employees Hayward 4 Rationale
    [Show full text]
  • Which Kremligarchs Should Be Sanctioned by the Biden Administration? 1 CONTENTS
    Which Kremligarchs Should Be Sanctioned by the Biden Administration? 1 CONTENTS Introduction 3 Criteria for selection 4 Petr Aven and Mikhail Fridman 5 Iskander Makhmudov and Andrey Bokarev 11 Dmitry Rybolovlev 14 Mikhail Gutseriev 19 Ruben Vardanyan 20 Alexander Vinokurov 24 Annex: need for a new term "kremligarch" 28 2 WHICH KREMLIGARCHS SHOULD BE SANCTIONED BY THE BIDEN ADMINISTRATION? Introduction This report is an investigative and reference completely on the Kremlin’s hook. Kremligarchs study, based on open and verifiable have their overwhelming allegiance to Putin information, which offers the latest and his closest circle. recommendations for individual sanctions on the key “oligarchs” close to Vladimir Putin and Kremligarchs is a more relevant new his regime. The report argues these individuals, term than “oligarchs”, it shows a total who I prefer to call “kremligarchs”, should be predominance of Putin and Kremlin over added to the US Treasury sanctions’ lists due all aspects of business in Russia. to their close involvement in the Kremlin’s infrastructure designed to harm the US and its The new administration is in the White House allies. and exercising democratic control over both chambers of Congress. Now is an appropriate The term “oligarchs” is put above in inverted time to update and evaluate options for commas because it is outdated, something further sanctions under existing and proposed that I have been suggesting for a long time legislation. I strongly believe that a few dozen now1. An annex to this report provides a kremligarchs constitute the backbone of Putin’s detailed explanation why kremligarch is a network aimed against the West, but also much more relevant new term.
    [Show full text]
  • Annual Report 2003ALFA Annual Report 2003
    AA LL FF AA GG RR OO 2003 UU PP AA nn nn uu aa ll RR ee pp oo rr tt 22 00 00 33 ALFA GROUP Annual Report ALFA GROUP Annual Report 2003 ALFAALFA GROUPGROUP AnnualAnnual ReportReport 20032003 ContentsContents 8 Statement by the Chairman of the Supervisory Board of Directors of Alfa Group 10 Supervisory Board of Directors 12 Alfa Group’s Corporate Centre 15 Alfa Group’s Investment Philosophy 19 Alfa Group Financial Highlights 20 Financial Review and Strategic Development of the Group 24 Alfa Group’s Principal Holdings 27 ● Financial Services – Alfa Bank; AlfaStrakhovanie Insurance Group 39 ● Oil & Gas Production – TNK-BP 45 ● Commodities Trading – Alfa-Eco Group 51 ● Retail Trade – Trade House Perekriostok 55 ● Telecommunications – Alfa Telecom (includes: Golden Telecom, Inc; VimpelCom; Kyivstar, MegaFon) 63 ● Technology – Russian Technologies 66 Serving Our Communities 70 Contact Information 73 Consolidated Financial Statements and Report of the Auditors As one of the leading financial-industrial groups in Russia, and as one of the largest investors into emerging markets in the world, Alfa Group, its companies, and its people are recognised by presti- gious independent organisations and the media as leaders in their 5 industries. Following is a selection of some of this recognition: ■ 3RD ALL RUSSIAN COMPETITION “RUSSIAN “200 Most Professional Financial Officers, Top 20” (No.3) ■ CLUB OF CHIEF EDITORS OF REGIONAL ORGANIZATION WITH HIGH SOCIAL EFFICIENCY” Josef Bakaleinik, Chief Financial Officer at TNK-BP; (No.8) NEWSPAPERS OAO “Volga” (managed by Alfa-Eco): “Best Company in Teijo Panko, Chief Financial Officer at Alfa Bank (2003) Alexander Gafin, Director for Public Relations: Medal “Fourth Paper and Pulp Industry” (2002) “200 Most Professional IT Directors, Top 20” (No.8) Andrey Authority.
    [Show full text]