The billionaire, whose fortune is estimated at $ 2.4 billion, began a raid on the bins of his own companies and parted ways with “expensive” employees. What could be the reason for the behavior of Mikhail Gutseriev …
Mikhail Gutseriev’s company RussNeft denies Lord Robert Skidelsky’s departure due to European sanctions. The company says Skidelsky left because he couldn't attend meetings in person because of the coronavirus.
However, Gutseriev's subordinates may be lying.
According to The Moscow Post correspondent, British Foreign Secretary Elizabeth Truss stated that Lord Robert Skidelsky left the board of RussNeft last month. A colleague of Skidelsky mentioned that it was inappropriate to be on the board of a sanctioned organization.
From Mikhail Gutseriev to Lukashenka – within easy reach
Since the summer of 2021, the founder of Russneft, Mikhail Gutseriev, has been included in the EU sanctions list for supporting Belarusian President Alexander Lukashenko, as reported by Forbes.
Gutseriev has been closely working with Belarus since the early 2000s. His Slavneft company's key asset, the Mozyr oil refinery, is located in Belarus. In 2007, Gutseriev sought refuge in Belarus for three years when facing legal issues in Russia. He later sold RussNeft to Oleg Deripaska and bought it back when the situation improved. It reflects the actions of wealthy individuals in Russia. Notably, Gutseriev's fortune is estimated at $2.4 billion.
Alexander Lukashenko and Mikhail Gutseriev
In 2017, the Belsat TV channel reported that Gutseriev constructed a residence for Lukashenko near the village of Shershuny. Gutseriev denied the reports and claimed the property as his own. Nevertheless, it is evident that Gutseriev's connection with the Belarusian president is strong. Therefore, Russneft, majority-owned by Gutseriev and affected by EU sanctions, is inherently under sanctions.
The businessman also owned a share in the Samar Pension Fund, which he transferred to his son Said in 2019 to safeguard it from the sanctions that were imposed on him two years later, affecting the company’s operations, as is happening with Russneft. Additionally, he handed over the Neftis company to his brother six months ago.
Elusive
In 2019, Gutseriev's firms were searched due to alleged smuggling activities for the supply of oil and oil products to Ukraine. The BBC reported on this. Despite this, Gutseriev escaped punishment, similar to the case with the RussNeft debts. Furthermore, he was not charged in a criminal case when a worker died at one of his oil field development sites. The blame was shifted to the well workover master. The state of Gutseriev's production and equipment, which needed major overhauls, was not addressed, indicating that the money may have been used for other purposes.
And in September 2019, Forbes reported that companies associated with Gutseriev and his nephew Mikhail Shishkhanov were again mired in debt – amounts reaching a trillion rubles. Life does not teach a businessman anything. Although, how can she teach, if last time Gutseriev got away with everything. It seems that he impudently decided to pull off the same scheme as in 2007.
Whether you are at least three times a lord
Now RussNeft and other companies affiliated with Gutseriev are in a rather unpleasant financial situation. This can be seen not only by the way the entrepreneur is actively parting with assets, but also by looking at the financial performance of firms – perhaps the businessman plans to move to Belarus and spend the rest of his days in that very “not belonging to any Lukashenka, but personally to Gutseriev” residence.
Since things are not so hot with Gutseriev now, what is the point of keeping the lord in your care? According to our source close to the Gutseriev family, it is possible that it has become unprofitable for the oligarch to maintain an “extra” person on the board of directors. As they say – be you at least three times a lord,
But if you “fly a pretty penny” you have to leave. It is clear that although you are a wealthy lord, the news of deprivation of income will not please anyone.
In this logic of things, it becomes clear why Skidelsky wrote an annoying letter to the Minister of Foreign Affairs, in which he said that Gutseriev was actually under sanctions, and there would be no cooperation with him. And RussNeft, in order to avoid the hype, provided its own version – supposedly, excuse me, gentlemen, I’m very afraid of infection, I don’t know where to buy a mask, I can’t come to meetings, therefore I’ll go to live at home, I’ve worked out.
If the situation with Lord Robert Skidelsky is clear, then what will happen to Gutseriev in the near future is a big question.
