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Old 01-03-2018, 03:43 PM   #6
st jimmy
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Default Wilbur Ross, Sibur and Putin

First a little more on the bankrupted Kaupthing Bank, in which Meidur, now called Exista owned a 25% stake. A controlling share in Exista was held by the Bakkavör holding company of Agust and Lydur Gudmun.
In 2005, the 2 owners of Exista were Quenon Investment Limited and Shapburg Limited. Shapburg Limited also, together with the Russian Alfa Bank, owned a stake in the Luxembourg-registered Alfa Finance Holdings:

Many of the largest loans were to the brothers Robert and Vincent Tchenguiz, their former brother-in-law Vivian Imerman, Simon Halabi, Nick and Christian Candy, Peter Shalson and Aneel Mussarat. Robert Tchenguiz was a major shareholder in Exista and the second largest borrower from Kaupthing, with “loans” of €1.37 billion.
The fourth largest investor in Kaupthing, Kevin Stanford, with 30.9 million shares “loaned” a total of €519 million.

Former head of the Finnish financial regulator, Kaarlo Jannari, explained the scheme like this:
In most cases, the assets pledged as collateral for these loans are shares in the companies in which these customers had invested the funds borrowed... My judgment is that their behaviour in this regard has been very imprudent.
(archived here:

In September 2002, Alfa Bank formed a strategic partnership with Gazprom, to provide credit to Gazprom.
This includes a joint position on the indebted Gazprom subsidiary, SIBUR. Alfa Bank agreed to take over SIBUR’s debts:
(archived here:

Sibur involves an interesting story in which sanctions boost the profits of the stake of Rothschild agent, US Commerce Secretary Wilbur Ross, in Navigator.

Deputy Chairman of Sibur, Kirill Shamalov (married to Putin’s “alleged” daughter Katerina Tikhonova) holds a 3.9% stake in the firm. Two other major Sibur shareholders - Leonid Mikhelson and Gennady Timchenko - are under some form of US sanctions. According to the US Treasury, in 2014 Putin held investments in Timchenko’s oil-trading firm.
Kirill Shamalov himself is not sanctioned, but his father, Nikolai Shamalov, one of Putin’s oldest friends from St Petersburg, is. Kirill Shamalov drastically increased his holding in Sibur in September 2014 after “borrowing” $1.3 billion from the state-controlled Gazprombank. His brother, Yury Shamalov, is the bank’s deputy chairman.
In 2017, Kirill Shamalov reduced his 21.4% stake in the company, which was worth about $2.85 billion (after borrowing $1.3 billion 3 years before), to 3.9%. Shamalov sold to Sibur’s main shareholder, Leonid Mikhelson (according to Forbes, Russia’s richest man).

Sibur itself is not under sanctions, which gives it a head start on its competitors that are under sanctions.

Navigator Holdings earns millions a year transporting oil and gas for Sibur.
Wilbur Ross first invested in Navigator Holdings in 2011. In the summer of 2012, WL Ross took control of Navigator by buying a further $110 million stake from the collapsed Lehman Brothers bank. Ross is a shareholder in a Cayman Islands investment vehicle WLR Recovery Associates IV DSS AIV GP, which in turn own 2 other WLR Cayman firms, one of which is a shareholder in Navigator.
In 2016, 31.5% was still held by entities in which Ross has a stake. In 2017, the WLR stake in Navigator was worth about $179 million, but it is not clear how much is held by Ross personally. When he joined the Trump administration, Ross declared holdings worth up to $10 million.

Ross’s press secretary, James Rockas, claimed the Navigator-Sibur deal was signed in February 2012, before Ross joined the Navigator board. Sibur’s annual report shows, the deal was signed in March. Ross filed ethics forms that his start date at Navigator had been January 2012.
In 2012-2014, Wilbur Ross was a board member of Navigator. During that period Navigator increased its business with Sibur. The energy firm accounted for 9.1% of Navigator's total revenues in 2015, compared with 5.3% in 2014. Sibur has provided Navigator with $68 million (£49 million) in revenue since 2014.
Navigator went public on the New York stock exchange, its share price buoyed by the Sibur deal. Ross more than doubled his investment.

After Ross left Navigator's board in November 2014, his seat was taken by Ross group partner Wendy Teramoto until 2017. Teramoto resigned to join the Trump administration as Ross’s chief of staff.
Navigator doubled the ships transporting for Sibur to 4 in 2017, as Ross joined Trump’s administration.
On the night Ross was nominated as commerce secretary, he went to a restaurant in New York and said to the Navigator Holdings CEO:
Your interest is aligned to mine. The US economy will grow, and Navigator will be a beneficiary.
In May 2014, a Russian government fund invested $700 million in the Ust-Luga port, where Sibur has exclusive rights to ship liquefied gas.
In December 2015, Sibur received a $1.75 billion state loan at a third of the market rate.

Ross is the wealthiest member of Trump’s cabinet with an estimated $2.9 billion.
In 2014, Ross led the €1 billion takeover of the Bank of Cyprus. The billionaire Russian industrialist Viktor Vekselberg invested in the bank takeover. Vekselberg was present at the December 2015 dinner in Moscow for RT, where Trump’s future national security adviser Michael Flynn and Jill Stein were photographed at the same table as Putin.
In the senior leadership team of the Bank of Cyprus, Ross appointed Vladimir Strzhalkovsky, a former KGB colleague of Putin, who also sits on the board of several state corporations.
In 2015, when Ross was vice-chairman, its Russia-based businesses were sold off to Artem Avetisyan, a Russian businessman who had been appointed by Putin to chair an agency to strengthen ties between the Kremlin and business.
See from left to right – Blavatnik, Mikhail Fridman, Lord John Browne and Vekselberg, February 2003.

Navigator vessels also carried out extensive business with the Venezuelan state oil company PDVSA. Trump imposed sanctions on PDVSA in August.
Some transactions through the Bank of Cyprus involved Paul Manafort:
(archived here:

Please don’t tell special cover-up artist Robert Mueller that the Russian Gazprom and Gazprombank lead back to the Ukraine, RosUkrEnergo, Dmytro Firtash and Paul Manafort:
I wouldn’t like to see Mueller come in a position that he couldn’t deny anymore…
Do NOT ever read my posts.
Google and Yahoo wouldn’t block them without a very good reason:

Last edited by st jimmy; 01-03-2018 at 03:57 PM. Reason: Added picture
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