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Gennady Timchenko
Gennady Nikolayevich Timchenko (Russian: Геннадий Николаевич Тимченко, also spelled Guennadi Timtchenko; born 9 November 1952) is a Russian oligarch and billionaire businessman. He founded and owns the private investment firm Volga Group. He was previously a co-owner of Gunvor Group.
Timchenko has been close friends with Russian leader Vladimir Putin since the early 1990s. In 1991, Putin gave Timchenko an oil export license. Timchenko then founded Gunvor, which has now exported billions of dollars' worth of Russian oil.
Timchenko's investment firm Volga Group owns a large stake of shares of the natural gas giant Novatek. The Pandora Papers leaks revealed that a Timchenko firm, which played a key role in the Novatek investment, obtained massive loans through anonymous offshore shell companies. Timchenko was sanctioned by the US over Russia's 2014 annexation of Crimea. He was about to be sanctioned further by the government of the United Kingdom just before the Russian invasion of Ukraine in February 2022.
As of March 2022, Timchenko was 205th on the Bloomberg Billionaires Index, with an estimated fortune of US $10.3 billion; he is the sixth richest person in Russia. He is known for being the Chairman of the Board of Directors of the Kontinental Hockey League, and President of the SKA Saint Petersburg ice hockey club. He is a citizen of Russia, Finland, and Armenia.
Timchenko was born in Leninakan, Armenian SSR, Soviet Union (now Gyumri, Armenia), in 1952. His father was in the Soviet military and served in the Second World War. He lived for six years of his childhood (from 1959 to 1965) in the German Democratic Republic (learning to speak German) and in the Ukrainian SSR. In 1976, he graduated from the Mechanical Institute of Saint Petersburg, then named Leningrad, as an electrical engineer, according to a 2008 interview with the Wall Street Journal.
In 1977, Timchenko began to work as an engineer for the Izhorsky plant near Saint Petersburg; the plant specialized in building power generators. The state-owned company then moved him to their trade department.[citation needed]
From 1982 to 1988, he worked as a senior engineer with the Ministry of Foreign Trade. In 1988 when Russia started to liberalize its economy, he was promoted to Deputy Director of state-owned oil company Kirishineftekhimexport, which was created in 1987 and based at the Kirishi refinery, one of the three largest refineries in the RSFSR.
In 1991, Timchenko decided to leave Russia and was hired by a Finland-based company, Urals Finland Oy, specializing in importing Russian oil to Europe. He became a Finnish citizen. While Anatoly Sobchak was in exile, Timchenko was the link between Sobchak and Vladimir Putin.
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Gennady Timchenko
Gennady Nikolayevich Timchenko (Russian: Геннадий Николаевич Тимченко, also spelled Guennadi Timtchenko; born 9 November 1952) is a Russian oligarch and billionaire businessman. He founded and owns the private investment firm Volga Group. He was previously a co-owner of Gunvor Group.
Timchenko has been close friends with Russian leader Vladimir Putin since the early 1990s. In 1991, Putin gave Timchenko an oil export license. Timchenko then founded Gunvor, which has now exported billions of dollars' worth of Russian oil.
Timchenko's investment firm Volga Group owns a large stake of shares of the natural gas giant Novatek. The Pandora Papers leaks revealed that a Timchenko firm, which played a key role in the Novatek investment, obtained massive loans through anonymous offshore shell companies. Timchenko was sanctioned by the US over Russia's 2014 annexation of Crimea. He was about to be sanctioned further by the government of the United Kingdom just before the Russian invasion of Ukraine in February 2022.
As of March 2022, Timchenko was 205th on the Bloomberg Billionaires Index, with an estimated fortune of US $10.3 billion; he is the sixth richest person in Russia. He is known for being the Chairman of the Board of Directors of the Kontinental Hockey League, and President of the SKA Saint Petersburg ice hockey club. He is a citizen of Russia, Finland, and Armenia.
Timchenko was born in Leninakan, Armenian SSR, Soviet Union (now Gyumri, Armenia), in 1952. His father was in the Soviet military and served in the Second World War. He lived for six years of his childhood (from 1959 to 1965) in the German Democratic Republic (learning to speak German) and in the Ukrainian SSR. In 1976, he graduated from the Mechanical Institute of Saint Petersburg, then named Leningrad, as an electrical engineer, according to a 2008 interview with the Wall Street Journal.
In 1977, Timchenko began to work as an engineer for the Izhorsky plant near Saint Petersburg; the plant specialized in building power generators. The state-owned company then moved him to their trade department.[citation needed]
From 1982 to 1988, he worked as a senior engineer with the Ministry of Foreign Trade. In 1988 when Russia started to liberalize its economy, he was promoted to Deputy Director of state-owned oil company Kirishineftekhimexport, which was created in 1987 and based at the Kirishi refinery, one of the three largest refineries in the RSFSR.
In 1991, Timchenko decided to leave Russia and was hired by a Finland-based company, Urals Finland Oy, specializing in importing Russian oil to Europe. He became a Finnish citizen. While Anatoly Sobchak was in exile, Timchenko was the link between Sobchak and Vladimir Putin.