Loyal hands: what assets Timchenko and Rotenberg disposed of amid the sanctions

Sale of part of the property to partners and relatives didn't spare the billionaires, close to the Russian President, from international prosecution.
Origin source
No matter how successful a person, sooner or later his capital go on a journey: it transfers control, and even to part with assets. The reasons may be different: someone who understands that the years take their toll, and the company grew strong managers, others - that it is time to transfer business to children. There are tragic circumstances, and there are those who are forced to part with the assets prematurely. This is seen from the side, the early separation experienced the last two years close to President Putin businessmen Gennady Timchenko and Arkady and Boris Rotenberg. The reason was the sanctions imposed on them, the US and the EU for a "violation of the sovereignty and territorial integrity of Ukraine." Their first introduced March 20, 2014, US President.

Timchenko and Arkady Rotenberg reacted to the restrictions on travel and business with irony, reported RIA Novosti. "I hope that these sanctions are assessing my services to Russia", - said Rotenberg "Interfax". However, after a couple of days it became known that on the eve of the introduction of ad Timchenko on the sanctions list, he sold his 43.59% of oil trader Gunvor sovlTorbjorn Tornqvist errand companies. The irony of irony, but the "Vedomosti" in the company explained that the shares were sold "in anticipation of possible economic sanctions."

Further more. Then, in March, Timchenko sold his former company Gunvor Swedish logger Rorvik Timber and aviation assets - a stake in the business terminals Sheremetyevo and Pulkovo and 97% of the Finnish operator of business jets Airfix Aviation Oy (which was part of IPP Oil Products), which bought Finnish partner Kai Paananen. Then came the Russian assets. One of them, 30% of "Russian aquaculture", stayed in the family: husband, daughter bought a share Timchenko Xenia Gleb Frank (son of "Sovcomflot" chapter). 17% of "SIBUR Holding" got also no stranger - Cyril Shamalova, son of one of the founders of the bank "Russia" and, says the agency Reuters, the eldest daughter of Putin's wife Katerina Tikhonova.

In March this year it was reported that Timchenko parted with 12.5% ​​of SOGAZ Insurance Group, and in July sold 25% plus one share of the UK "Bridge" and 25% of large infrastructure contractor ARKS projects. Father of two daughters20-year-old son, Timchenko, as if explaining why transferred part of its assets are not they admitted TASS: "Do not leave your children too much. You have to properly educate them, provide quality education, and then - for yourself. "

Assets Rotenberg, on the contrary, remained in the family. The representative emphasized the brothers, sons of Arkady and Boris - Igor and Roman - all bought at the market price. "When a person pays your money - this is a business, a great sense of responsibility, - confirmed in an interview to" Interfax "Arkady Rotenberg. - And when you something gave you the money you do not feel. " His son Igor passed in July 2014, "SCC Real Estate", "FEC Mosenergo" and "Gazprom drilling", and in October - the share in "Mostotrest", which in May 2015 he sold "TPA-Finance" (it is controlled asset management companies NPF "Welfare").

General business and Timchenko Rotenberg brothers in Finland - the management company Langvik Capital (100% Hotel Langvik, 100% developer Tanskarlan Centrum) and 50% of the CC Arena Events (49% of the hockey club Jokerit and 50.5% of its home stadium Hartwall Arena) passed to his son Boris Roman.

Change of owners occurred, and seemed to have new owners should be no reason to worry about the fate of their companies, but as it turned out, the US Treasury a different opinion. US officials considered the sale of some assets Timchenko feigned. In July 2015 the US Treasury imposed sanctions against Russian companies and citizens, which are considered in Washington were involved in the earlier limitations of circumvention schemes. The expanded list includes family members and business partners and Gennady Timchenko, and Boris Rotenberg. Ky Paananen, Airfix Aviation Oy, IPP Oil Products (Cyprus) and other people and companies have come under sanctions with the wording "for providing material support to Mr. Timchenko." Ironically, the restrictions are not touched by Igor Rotenberg, the son of the eldest of the brothers and the main beneficiary of his father's property redistribution. But Boris's son Roman, owner of Finnish Langvik, entered in the list.