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A Mysterious Trader of Russian Oil to Europe Links Associates of Vladimir Putin and Hungarian Prime Minister Viktor Orban’s friends (istories.media)
submitted 12 hours ago by [email protected] to c/[email protected]
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  • Hungarian Prime Minister Viktor Orban is one of Russia’s allies in Europe. He claims that the EU is helping Ukraine at the expense of European interests and that Hungary will not quit Russian oil and gas. Experts and the press suspect that the Russian authorities have given Orban’s inner circle the opportunity to earn hundreds of millions of dollars from energy commodities trading.
  • At the center of attention is the mysterious trader of Russian oil, Normeston Trading, which in 2009 got half of a gas trader created by Hungary’s largest oil and gas company, MOL, and then transferred its stake to Orban’s friends and their partners.
  • Normeston Trading itself, on the Hungarian side, is co-owned by people affiliated with Orban’s friends. For years, the press and experts have tried to understand how Normeston could be connected to Russia’s top political circles.
  • IStories found out that the former Russian owner of Normeston — race car driver Lev Tolkachev — was also a business partner of Gennady Timchenko’s top-managers. Vladimir Putin's close friend Timtchenko was the biggest Russian oil trader before 2014 sanctions. One of his former managers, Aleksandr Zhuravlev, still sits on the boards of some companies in the Normeston group together with the race car driver.
  • In 2017 and 2018, Cyprus-based Normeston Trading was “under common control” with the Russian company of the race car driver, which was half-owned by another Timchenko top manager — Sergey Gzhelyak. In Cyprus, “common control” means that the companies are owned or their finances are controlled by the same parties.
  • After the race car driver, the Russian businessman Valery Subbotin became a co-owner of Normeston. Subbotin is a former vice president of Lukoil, who fled from Russia in 2016 and settled in Europe, but established business ties with Putin’s friends and the entourage of former pro-Kremlin Ukrainian president Viktor Yanukovych.
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