The bulk of Gennady Timchenko's wealth is derived from energy holdings. His biggest asset is a 45 percent stake in Gunvor Group, the fourth-largest oil trader in the world. He also holds stakes in Novatek, Russia's second-largest gas producer after Gazprom, and Sibur, Russia's largest chemical manufacturer.
China is prepared to finance most of Russia’s largest liquefied natural gas project, Yamal in the Arctic, according to billionaire Gennady Timchenko, a shareholder in OAO Novatek, which controls the deposit.
Present and past owners of OAO Bank Rossiya, the only company hit with sanctions for Russia’s takeover of Crimea, include three billionaires, two proteges of a Nobel Laureate and, according to a Spanish prosecutor, one possible mob boss.
OAO MegaFon, Russia’s second-largest wireless operator, agreed to buy at least $600 million of equipment from Huawei Technologies Co. at a time when ties between Russian and Chinese companies are strengthening.
When Russian President Vladimir Putin travels to China next week chasing a long-term natural-gas supply deal, he’ll be joined by at least two businessmen sanctioned by the U.S. amid tensions over Ukraine.
U.S. banks Goldman Sachs Group Inc., Citigroup Inc. and Morgan Stanley will find it harder to compete in Russia after sending their “second string” to President Vladimir Putin’s economic forum as the country tilts toward Asia, according to Alexis Rodzianko, president of the American Chamber of Commerce in Moscow.
Gunvor Group Ltd. is marketing a $350 million credit line for its Singapore-based subsidiary a month after Gennady Timchenko, the oil trader’s Russian billionaire co-founder, sold his stake in the business.