Hello Truthloaders, today we’re going to talk about how the bare-chested, judo-master,
tiger-pacifying, untouchable leader of Russia has amassed control of huge capital when Kremlin
officials say his salary is a mere $187,000 a year.
In 2007, a secret CIA report seen by the New York Times said Putin’s wealth stood at
$40billion and that figure is said to be around $60-70billion today.
If Putin does control $40billion in assets, he would be the world’s current richest
leader making him more affluent than the King of Thailand, who is worth $30 billion.
Pocket change to Putin.
If Vladimir has acquired this multi-billion pound fortune he would have done it by controlling
three of Russia’s biggest energy companies, Surgutneftegas, Gunvor, and Gazprom.
It’s claimed that he indirectly controls a 37% stake in Surgutneftegas, an oil exploration
company, with annual revenue of $20billion.
Putin’s indirectly controls half of Gunvor, a Swiss-based oil trading company that has
won a series of state contracts whose takings were $80billion last year.
Then there’s the 4.5% stake in Gazprom, the state’s energy plant.
Fiona Hill, a Russia expert formerly at the National Intelligence Council, thinks Putin's
inner circle is itself behind this.
Who’s the President of Surgutneftegas?
Vladimir Bogdanov, a confidant of Putin during the 2004 Russian Presidential Election, who
is an oil tycoon, the third wealthiest Russian and a member of the Kanty-Mansi legislature
which produces the majority of oil in Russia giving it great economic importance.
Bogdanov has ties to the Kremlin, running Putin’s maiden election campaign in west
Siberia in 2000.
As a known supporter of the defence and nuclear industries, Putin will go to extreme lengths
to protect Russia’s legacy.
In a 2012 newspaper article, Putin thanked Bogdanov and Surgutneftegas personally for
funding a Pacific nuclear submarine base in 2002 when the state couldn’t afford to finance
it.
It’s believed Putin has influence over Gunvor, which up until recently was run by Gennady
Timchenko, a close friend.
On 19 March 2014, Timchenko was included on the United States' Sanctions list in the wake
of the annexation of Crimea by Russia due to his close ties with the Russian President
and it’s thought because of this he had to sell his entire stake in Gunvor.
Then in May 2014, Putin made Timchenko the Head of Russia-China Business control.
In that same month, Russian gas giant Gazprom, the third energy company linked to Putin,
secured a long delayed gas deal with China.
Gazprom is the largest extractor of natural gas in the world and one of the world’s
largest companies.
Even though it’s privatised, who owns the majority stake, you guessed it, the Russian
government.
Gazprom agreed a $400 billion deal with China to supply gas over 30 years beginning in 2019,
and the company currently has a monopoly over the right to export gas from Russia via pipelines.
Gazprom CEO Alexei Miller said in May that his company had no plans to give other companies
access to pipelines.
In 2012, Putin signed a decree prohibiting state-controlled companies from handing over
information to foreign authorities without prior permission from Moscow.
On top of this he also forced state firms to obtain his permission to change any pricing
of contracts with overseas groups.
He said he did not want Russia’s strategic interested compromised and made the move after
the European Commission said it wanted to investigate Gazprom for abusing its dominant
position.
In 2008, Putin said his finances were ‘not worth discussing’ and any indication that
he was rich was ‘rubbish.’
He has declared a small apartment and owns three cars.
Sound right for one of the world’s most powerful leaders?
I don’t think so.
In 2012, Putin’s tax declaration in order to run for President was $115, 000.
His bank balance had $179, 612.
His wife Lyudmila had $261,541 in four bank accounts.
Opposition politician Boris Nemtsov, who was first deputy prime minister under Putin's
predecessor, Boris Yeltsin, published a report last year on the wealth of Putin’s circle
describing how Putin’s relatives and friends all got rich during this time.
It also talks about his perks as head of state including yachts and residences however Moscow
has dismissed these claims as absurd.
Putin’s Presidential perks include, 20 palaces, 58 aircraft (43 planes and 15 helicopters),
and a fleet of yachts.
Written in Russian, an entire chapter is dedicated to Putin’s extensive Swiss watch collection
which for a man on a salary of his could not afford.
Not bad for a day’s work is it?
In the early days of his first term as president, Putin had promised to rid Russia of its corrupt
oligarchs.
As Russia provides Europe with 25% of its gas imports, is Putin single-handedly using
his political power and control to fund his own empire for when he steps down?
When Putin’s third presidential term runs out in 2018, he will be eligible for one more
term in office, if he feels up to it at the age of 65.
In the interim, this gives him time to use his power and call in favours for his family
and friends to turn assets into cold hard cash.
As always, let us know your thoughts in the comments section below.
You can check out my video on Malaysia Airlines Flights MH370 and MH17 here.
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