🚨 MI6 raises concerns after oligarch Oleg Deripaska linked to Vladimir Putin makes £1bn on London Stock Exchange in EN+ IPO - security sources raise questions about EN+ subsidiary RUSAL which makes a powder used to produce military equipment - THREAD /1
telegraph.co.uk/politics/2018/…
telegraph.co.uk/politics/2018/…
Some background - I've been closely following Deripaska, his EN+ IPO & RUSAL because RUSAL is a main hub of many of Putin's closest allies (noted in Rosneft chart below) - Deripaska, Len Blavatnik, Viktor Vekselberg, Ivan Glasenberg (Glencore) /2
medium.com/@wsiegelman/ro…
medium.com/@wsiegelman/ro…
Thread below describes RUSAL shareholders and board members, including RUSAL Chairman Matthias Warnig, also Deputy Chairman of Rosneft, Managing Director of Nord Stream 2, and per an article in the Guardian, an ex-Stasi officer and close Putin friend /3
Oleg Deripaska owns 65.2% of EN+ Group, a company which manages hydropower and aluminum businesses, and EN+ owns 48.13% of RUSAL. EN+ raised $1.5 billion in an IPO on the London Stock Exchange in November 2017 /4
One of the main investors in Deripaska's EN+ IPO was CEFC China Energy which invested $500 million around the same time CEFC China Energy was investing in a 14.2% stake in Russian company Rosenft /5
Another investor announced before the EN+ IPO was the Russian Direct Investment Fund /6
The EN+ IPO was significantly the first Russian IPO in several years, a big test of a new channel to raise funds despite sanctions, and the bulk of funds raised by Deripaska's EN+ IPO were used to pay down debt owed to sanctioned Russian bank VTB /7
Today's story about M16 raising concerns about Deripaska's offering on the London Stock Exchange is a big deal for many reasons, including the fact that Paul Manafort had a $60 million relationship with Deripaska /8
The story describes how EN+ owns half of RUSAL, which until recently said on its website that a fine metal powder it produces is used “in the production of military equipment”. /9
telegraph.co.uk/politics/2018/…
telegraph.co.uk/politics/2018/…
💥The Telegraph describes how the same type of powder produced by Deripaska's RUSAL "was used in the production of a Russian-built BUK missile which Dutch investigators say downed Flight MH17 over Ukraine in 2014, leading to the death of 298 people including 80 children." /10 
A senior British intelligence official familiar with the issue described the decision to allow the flotation to proceed as a "scandal". /11
telegraph.co.uk/politics/2018/…
telegraph.co.uk/politics/2018/…
"Last night a source told The Telegraph that neither MI6 nor the National Security Council had been consulted about the flotation." /12
telegraph.co.uk/politics/2018/…
telegraph.co.uk/politics/2018/…
A few additional interesting notes - shortly before Deripaska's EN+ IPO, Gregory Barker, former UK energy minister from 2010-2014, was named as Chairman of EN+ /13
And shortly before Deripaska's EN+ IPO, one of his top executives was placed under house arrest under suspicion of embezzlement (however, apparently this was related to a prior job before working at EN+) /14
From Daily Mail: "Lord Mandelson is also an intimate friend Deripaska, having in 2005 famously joined him in a ‘Banya’— a traditional sauna in which they were thrashed with bunches of birch twigs by a 25-year-old man, before jumping into freezing water."
dailymail.co.uk/news/article-5…
dailymail.co.uk/news/article-5…
