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Fridman and Aven received a stake in a British oil company

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Investment company LetterOne, partly owned by oligarchs Mikhail Fridman and Petr Aven, now owns about 15% of Harbor Energy.

Two Western-backed Russian oligarchs have become co-owners of Britain’s biggest oil producer after Harbor Energy completed a deal to buy the German company. The BBC writes about it.

Investment company LetterOne, partly owned by oligarchs Mikhail Fridman and Petr Aven, now owns about 15% of Harbor Energy.

Harbor Energy is the UK’s largest offshore oil and gas producer. The company bought most of the oil and gas production assets of the German company Wintershall DEA from the chemical giant BASF.

Under the terms of the agreement, LetterOne will have no voting rights in Harbor Energy, but will receive a share of the company’s profits in the form of dividends.

LetterOne shares could potentially be converted into voting shares if sanctions against both Russians are lifted, but this would require government approval.

In turn, Louis Wilson, head of fossil fuel research at the Global Witness campaign, said that the UK government and Harbor should have prevented the signing of this agreement.

We remind you that earlier the European Union Court upheld the claim of Russian oligarchs Mikhail Fridman and Petr Aven to exclude them from the EU sanctions list.

Russian billionaires Fridman and Aven called investing abroad a mistake
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Source: korrespondent

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