Putin Handed Over $8 Billion In Contracts To His Russian Oligarch Friends


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Business Insider
DEC. 11, 2014, 10:22 AM
Thanks to B.

Arkady RotenbergGetty Images/Sasha MordovetsRussian businessman Arkady Rotenberg.

Companies linked to Russian billionaire Arkady Rotenberg and Gennady Timchenko, both close allies of Russian President Vladimir Putin, were given contracts worth 309 billion roubles (£3.6 billion, $8.1 billion) since western sanctions were imposed on the men in March, according to a Bloomberg report.

The deals included a 228-billion- rouble project to build a bridge to Crimea from the Russian mainland as well as a large chunk of the 770-billion-rouble Power of Siberia gas pipeline.

The two men were sanctioned due to their links to key Russian industries. Rotenberg, a childhood friend of Putin’s, owns SMP bank along with his brother Boris. The US Treasury claims the brothers “have provided support to Putin’s pet projects” by winning and completing “approximately $7 billion in contracts for the Sochi Olympic…

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Alchemist, Astrologer, Esoteric, Spiritualist, Wife, Mother, and Friend. ~What If I died? What did I give? I HOPE it was an answer, so you might LIVE . . . I HOPE I helped you LIVE~Creed

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