It was reported that Gennady Timchenko, a long-time supporter of Russian President Vladimir Putin, had resigned from the board of directors of gas producer Novatek on Monday. Last month, Russian billionaire Gennady Timchenko and other billionaires with ties to President Putin were sanctioned by the European Union and the United Kingdom for Russia’s military operation in Ukraine. Timchenko, who was a member on the board of Sibur (a petrochemicals producer) was a co-founder of Gunvor, a Swiss oil trader. After the United States sanctioned him over Russia’s 2014 annexation of Crimea, Timchenko sold his share in Gunvor in 2014. According to Forbes magazine, Gennady Timchenko was Russia’s sixth-richest billionaire last year, with a net worth of $22 billion. On February 24, President Vladimir Putin of Russia dispatched tens of thousands of troops to Ukraine in what he described as a special operation aimed at degrading Ukraine’s military capabilities and rooting out dangerous nationalists. Ukraine’s soldiers have resisted, and the West has slapped Russia with sweeping sanctions in an attempt to force it to remove its military from Ukraine.
Source: Viewers Corner News.