By Dan Alexander
Tycoon Gennady Timchenko attends a meeting with Russian President Vladimir Putin at the Kremlin in Moscow on May 25, 2016.
Russia’s richest men, (click here) some of whom have close ties to President Vladimir Putin, have gained $29 billion since the election of Donald Trump, thanks to the rising value of Russian stocks and currency.
Among the biggest beneficiaries: Gennady Timchenko, who was a primary target of 2014 U.S. government sanctions aimed at Putin’s inner circle. Shares of publicly traded natural gas producer Novatek are up 16% since the election, enough to boost the value of Timchenko’s estimated 23% stake by $1.8 billion.
The Russian businessman sold his 43% stake in the oil trading firm Gunvor, which he cofounded, one day before the U.S. Treasury Department leveled sanctions against him in March 2014. U.S. officials alleged that Putin was invested in the firm and may have had access to its funds. Today much of Timchenko’s $15.1 billion fortune is privately held and therefore more difficult to track on a daily basis than his shares of Novatek....
I think this clears up the Russian interference by Putin in USA elections.
