Steyer Hedge Fund Tied to Russian Oligarch Targeted by U.S. Sanctions

Washington Free Beacon ^ | 5/7/14 | Adam Kredo

[Nachum]

The hedge fund founded and, until recently, run by billionaire environmentalist Tom Steyer was involved in a deal to sell a stake in a Russian oil company to a Russian oligarch who is the target of U.S. sanctions.

Farallon Capital Management sold a part of its stake in Russian firm Geotech Oil Services to the Volga Group, a Luxembourg-based investment firm owned by Russian billionaire Gennady Timchenko, in 2010.

Four years later, in April 2014, the U.S. Treasury Department announced that it would target Timchenko, Volga, and a number of companies associated with them, in a round of sanctions aimed at punishing Russia’s inner circle of oligarchs for the government’s invasion of Crimea.

[Nachum]

It's only a DemocRAT, nothing to see here.

[WashingtonSource]

Bump

[Cowboy Bob]

I don’t understand the connection. If the stake was sold 4 years ago, what does it matter now?

[piasa]

Bump

[piasa]

“Timchenko’s activities in the energy sector have been directly linked to Putin,” the Treasury Department said in a statement on U.S. sanctions, which dubbed him a member of Putin’s “inner circle.”
Timchenko “is rumored to be a former KGB colleague of Putin’s,” according to a 2008 State Department cable released by Wikileaks. Additionally, oil trading firm Gunvor, which Timchenko owned until March, “is rumored to be one of Putin’s sources of undisclosed wealth.”