Gennady Timchenko

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Gennady Nikolayevich Timchenko (also spelled Guennadi Timtchenko; Russian: Геннадий Николаевич Тимченко) is a prominent Russian businessman, citizen of both Russia and Finland[1] , currently living in Geneva, Switzerland. The May 2008 issue of Russian Forbes listed him for the first time in its Golden Hundred of Russia's richest and introduced him and another new entrant to the List Yuriy Kovalchuk as "good acqaintances of Vladimir Putin."[2] The magazine placed him at number 43 (Russians only list) with estimated fortune of $2.500 million. In May 2008, he publicly maintained that his "career of more than 20 years in the oil industry has not been built on favours or political connections".[3]

He served in the First Chief Directorate of KGB (Foreign intelligence).[4] In 1987 – 1994 he led the state-owned Kirishineftekhimexport enterprise.

He is also believed to have full control over Swiss oil trading company Gunvor Services SA.[4] According to the interview with the managing director of Gunvor Torbjörn Törnqvist they share 50-50 ownership of the company. Timchenko's fortune was estimated by market analysts at between 9.5 and 14.4 billion dollars.[5]

In February 2004, Ivan Rybkin, a contender running for the Russian presidency, former speaker of the State Duma and former member of the Security Council of the Russian Federation, claimed that incumbent Russian President Vladimir Putin was involved in shady business activities together with Timchenko, and that Timchenko effectively had control over Russian oil giant Surgutneftegaz.[6] It was later alleged that Putin controlled thirty seven percent share of Surgutneftegaz.[7]

[edit] References and notes

  1. ^ Kremlin favourite Gennadi Timchenko is Finnish citizen by Pekka Hakala Helsingin Sanomat Feb 17 2004.
  2. ^ Kremlin-linked tycoon eyes Russia media firm-report reuters.com Apr 23, 2008.
  3. ^ Gunvor, Putin and me: the truth about Russian oil trader, FT.com, May 22, 2008
  4. ^ a b Кому кто повезет. Russian Newsweek (January 15, 2007). Retrieved on 2008-05-10.
  5. ^ Миллиардер Тимченко. RBK Daily (November 1, 2007). Retrieved on 2008-05-10.
  6. ^ 'In this context, you can't really be a journalist'. Radio Liberty (February 13, 2004). Retrieved on 2008-05-10.
  7. ^ Quiring, Von Manfred (12 November 2007). Warum Putin gar nicht Präsident bleiben will. Die Welt. Retrieved on 2007-12-04.

[edit] External links