Another Russian Oligarch Dumped All His Stocks Ahead Of The US Sanctions

Another Russian Oligarch Dumped All His Stocks Ahead Of The US Sanctions (ZeroHedge, March 20, 2014):

Last week we discovered that Gazprom’s Chairman Viktor Zubkov sold his entire stake in the company days before the Crimean invasion (and subsequent sanctions and asset freezes). Today, on the heels of the latest round of US sanctions against Russia’s so-called “Putin cronies”; Cyprus-based oil trader Gunvor Group announced that co-founder Gennady Timchenko (estimated wealth $8.5 billion) – who was named on today’s sanctions list – sold his entire 44% stake in the company yesterday. The question is – as we show below – did the US Treasury tip Timchenko off to what was coming?

Gennady Timchenko

Gunvor Ensures Continued Operations

Anticipating potential economic sanctions so to ensure with certainty the continued and uninterrupted operations of Gunvor Group Ltd’s activities, the shares of the company held by Mr. Gennady Timchenko were sold on March 19 from his personal holding vehicle to Mr. Torbjorn Törnqvist personally.

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