The Swiss company Gunvor, which the US government and arrested Russian opposition leader Alexei Navalny has identified as the source of President Vladimir Putin's corrupt wealth, has refuted the allegations, denying any connection to President Putin. For the announcement to reach a wider Latvian audience, the company has chosen to distribute it through Neatkarīgā.
It should be immediately explained why this global company with an annual turnover of 75 billion euros wants to explain something to the people of Latvia, whose contribution to the Gunvor business is relatively insignificant. At the end of last year, another agreement was signed on the storage of oil product reserves for the needs of Latvia - in the value of a little more than 1.84 million euros. However, the company's reputation is damaged by people constantly digging up their history and rumors that Gunvor is connected with Vladimir Putin. Especially because it is happening at the level of the Latvian government and therefore also at the level of the European Union. The company's reaction to Neatkarīgā's publications is natural, as the digital newspaper is also available in English. Neatkarīgā's articles are no less important from the point of view of the company's public relations than the Financial Times, The Guardian and Reuters. Gunvor also sent its explanations to them, categorically denying the information considered to be generally known in the public sphere, that there is an equal sign between Gunvor and Putin.
Walter Bruderer, media relations advisor for Gunvor, contacted Neatkarīgā.
You can read the full letter here.
It states that the information provided about Gunvor is false, inaccurate and/or highly defamatory for the following reasons:
* "President Putin does not and never has had any ownership, beneficial or otherwise in Gunvor. He is not a beneficiary of Gunvor or its activities.
* No evidence supporting claims about Mr. Putin has ever been produced by the U.S. government or anyone else.
* Furthermore, please note that in the numerous subsequent rounds of Russia-related sanctions by OFAC (The Office of Foreign Assets Control of the U.S. Department of the Treasury), our company Gunvor has never been sanctioned by the U.S. government or any other government."
It should be explained here that the company isn't on the sanctions lists, but in 2014, when Russia invaded Ukraine, the United States added Gennady Timchenko, one of the founders of Gunvor, to the list of entrepreneurs close to the Kremlin. The document states that Putin has investments in Gunvor as a reason for this sanctioning. Due to sanctions, Timchenko sold his shares in the company. This is also explained in the letter from the public relations representative of the Gunvor group:
"Mr. Gennady Timchenko does not own Gunvor Group. He was a former shareholder. The shares of the company held by Mr. Gennady Timchenko were sold on March 19, 2014, from his personal holding vehicle to Mr. Torbjörn Törnqvist personally. As a result, Mr. Törnqvist, who is Swedish, has become the majority owner of Gunvor Group Ltd and Mr. Timchenko has fully divested his entire holdings in the company. Mr. Törnqvist maintains 100 percent control of the company. The remaining shares in Gunvor Group are held by senior employees - mostly traders, who are predominantly Swiss, French, Dutch, British and American. There are no outside shareholders."
At the end of the statement, it is emphasized once again that the company no longer has any connections with Timchenko.
"Second, it is important to note that Mr. Timchenko never ran Gunvor Group. In the company's history, he was only ever a shareholder. Mr. Timchenko never held a management position and never was on the company's board of directors. Further, he neither had family members nor representatives in management or on the board."
In this way, the company completely dissociates itself from its founder, and it should be recalled here that Gunvor's statements are in stark contrast to the information that is generally available in the public sphere. Including recently reiterated in the film of the Russian oppositionist Alexei Navalny. Information that is also of concern to the Latvian government and especially to the Minister of Defense Artis Pabriks.
However, the company undoubtedly has the right to explain its position, and this is necessary because Latvia buys a service from Gunvor, the availability of which may become crucial in the hour of crisis.