The Guardian | Revealed: UK oil refinery owner moved Russian loans to offshore subsidiary where sanctions did not apply by Rob Davies, Atika Rehman, Jess Staufenberg and Marcus Leroux

AI generated summary, Read the full article for complete information.

Essar Energy, the Indian‑owned parent of the Stanlow refinery in Cheshire, shifted billions of pounds of Russian‑sourced loans from a Cyprus‑based entity to a subsidiary in the tax‑haven of Mauritius after the 2022 Russian invasion of Ukraine, a move that allowed the loans from Kremlin‑controlled VTB to remain outside the reach of Western sanctions. Although Essar asserts that the transaction complied with UK, EU and other sanctions law on the advice of a leading law firm, sanctions experts and forensic accountants say the restructuring raises “red‑flag” concerns of possible sanctions circumvention, pointing to new rouble exposure and an apparent “enhancement” of the VTB debt. The transfer was approved by Cypriot authorities, but both Cyprus and Mauritius are now examining whether Essar violated EU sanctions regulations, and MPs—including the chair of the Business Select Committee—are urging UK officials to launch an investigation into the company’s continued financial ties with VTB, which they describe as “Putin’s piggy bank.”

Read more: https://www.theguardian.com/business/2026/apr/24/revealed-uk-oil-refinery-owner-moved-russian-loans-to-offshore-subsidiary-where-sanctions-did-not-apply

#EssarEnergy #Stanlowrefinery #VTB #SourceMaterial #LiamByrne #Cyprus #Mauritius #EU #UK #banking #business #Europe #oil #russia #vladimirputin

AI generated summary, Read the full article for complete information.

From ⁨⁨⁨⁨⁨#AnnafromUkraine⁩⁩⁩⁩⁩ @[email protected]

RUSSIA FACING DEBT CRISIS: VTB SBERBANK NO MONEY Vlog 1250: War in #Ukraine

#Russia’s top banks #VTB and #Sberbank are bracing for a #debt crisis — mounting overdue #loans, rising defaults, and growing financial strain could destabilize the banking system soon.

#russoUkrainianWar

https://youtu.be/mtD9NKBUSc4

You can always buy me a coffee for more video projects to come:
☕️ https://www.buymeacoffee.com/AnnafromUkraine
or become my patron:
🇺🇦 https://www.patreon.com/AnnafromUkraine

Every 1% cut in CB interest rates gives Russia's #VTB Bank an extra $250 million in net profit, CFO Dmitry Pyanov told Reuters, which benefits the government as the state-owned lender plans to distribute 50% of its profits via dividends - half of it to the state.

https://www.reuters.com/business/finance/russias-vtb-gain-billions-roubles-if-interest-rates-come-down-cfo-says-2025-07-04/

#Ukraine #Russia

"100 billion rubles? 🤔 how much is that in real money?"🤣🤣🤣

After President #Trump called #Putin "absolutely crazy," the #Russian stock market lost about 100 billion rubles in several hours, #Russian media reports.

#Gazprom's stock has fallen by 3,5%. #Russian #Sberbank and #VTB bank stocks have fallen by 1,5%, and 2,4% respectively due to information that the #EU might disconnect 20 more #Russian banks from #SWIFT.

Economic pressure on #Russia must become stronger.

'Minnettarız' diyerek açıkladı! Doğru, Türkiye bundan faydalanıyor: Kostin, Birleşik Arap Emirlikleri'nin (BAE) Ras Al Khamiah şehrinde bu yıl 17'ncisi düzenlenen Verona Avrasya Ekonomi Forumu kapsamında AA muhabirinin sorularını yanıtladı.

KOSTİN: TÜRKİYE GİBİ KORKUSUZ OLUN

Türkiye ile Rusya'nın komşu ülkeler olarak iyi ilişkilere sahip olması gerektiğini anlatan Kostin, Türkiye'nin hem Avrupa hem de… https://www.eshahaber.com.tr/haber/minnettariz-diyerek-acikladi-dogru-turkiye-bundan-faydalaniyor-190616.html?utm_source=dlvr.it&utm_medium=mastodon EshaHaber.com.tr #Türkiye #Rusya #Ekonomi #Kostin #VTB

"#vtb? Is that the #russian bank that hasn't collapsed yet?"🤣 🤣 🤣

#Andrei_Kostin, Head of #VTB, #Russia's second-largest bank, gave a demonstrative interview to the #Reuters news agency:

"I don't really believe that the sanctions will be lifted quickly. I don't see how that is possible. A good example is the #Jackson_Vanik amendment.”

He doesn’t think that #Russia's forex reserves, frozen in the #West after the start of the war, will be returned.

#Russia's sanctions-hit, militarized economy is expected to slow next year and banks' profits will fall, while the benchmark interest rate may climb to 23% by the end of this year, Andrei #Kostin, CEO of Russia's second-largest lender, #VTB, said.

https://www.reuters.com/markets/europe/russias-vtb-sees-2025-gdp-growth-19-ceo-says-2024-12-02/

#Ukraine

[14:26] Nieuwe inrichting Kanaalstraat Roden: 30 kilometer en meer groen en bomen

De gemeente Noordenveld heeft in het uitvoeringsprogramma Centrum Ontwikkeling Roden (COR) afgesproken de VrijeTijdsBoulevard (VTB) een impuls te geven. Op die manier moet woningbouw mogelijk worden aan de oostzijde van de Kanaalstraat en wil de gemeente de winkelfunctie aan de westzijde versterken.

https://www.dvhn.nl/incoming/Nieuwe-inrichting-Kanaalstraat-Roden-30-kilometer-en-meer-groen-en-bomen-29246220.html

#COR #VTB #Kanaalstraat