An unprecedented battle is taking place inside the Kremlin in advance of Vladimir Putin’s departure from office.
‘With major holdings in 3 Russian oil & gas firms, Russian President is Europe’s richest’
MOSCOW: An unprecedented battle is taking place inside the Kremlin in advance of Vladimir Putin’s departure from office, with claims that the Russian president presides over a secret multibillion-dollar fortune, British daily The Guardian reported on Friday.
The paper, quoting political observers and other sources, revealed rival clans inside the Kremlin are embroiled in a struggle for control of assets as Putin prepares to transfer power to his hand-picked successor, Dmitry Medvedev, in May.
At stake are billions of dollars in assets belonging to Russian state-run corporations. Additionally, details of Putin’s alleged 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 after eight years in power Putin has secretly accumulated more than $40 billion. In an interview with the Guardian, Belkovsky repeated his claims 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 $20-billion, 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.
Asked how much Putin was worth, Belkovsky said: “At least $40-billion. Maximum we cannot know. I suspect there are some businesses I know nothing about.” He added: “It may be more. It may be much more. Putin’s name doesn’t appear on any shareholders’ register, of course. There is a non-transparent scheme of successive ownership of offshore companies and funds. The final point is in Zug [in Switzerland] and Liechtenstein. Putin should be the beneficiary owner.”
Putin has not commented on the claims. The Guardian put the allegations to the Kremlin but was told Putin’s spokesperson was not available.
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