Rosneft, Timchenko not involved in crimes under U.S. investigation - Sechin
MOSCOW. Nov 10 (Interfax) - Rosneft is certain of the legality of its actions, Rosneft President Igor Sechin said, commenting on the investigation U.S. authorities have waged against the oil major.
"I don't know the circumstances of this case, but I know one thing - neither Rosneft, nor Timchenko [former co-owner of Gunvor Gennady Timchenko] participated in any crimes or violations, and this will be easy for us to prove this in court. And rumors and the dissemination of false information is not our business," he said in an interview with TV channel Russia-24.
The Wall Street Journal has previously reported, citing sources, that the U.S. has launched an investigation against Timchenko over suspected money laundering. The investigation is being conducted by the U.S. Attorney for the Eastern District of New York together with the Department of Justice. The investigators are determining whether Timchenko transferred money connected with presumably corrupt deals in Russia through the U.S. financial system.
The investigation is focusing on deals in which Gunvor purchased oil from Rosneft and then sold it to third parties. Investigators have asked for information concerning the prices in those deals. Transferring the proceeds could be considered money laundering, if it can be proven that the money was received illegally.
Timchenko has disposed of his stake in Gunvor in March 2014, just before the U.S. imposed sanctions against Russia.
