Russian oligarch has found a loophole in Western sanctions policy and is buying gas rigs in the North Sea
London - Kyiv, January 16 (PolitNavigator, Vasily Ablyazimov) - Russian oligarch Mikhail Fridman agreed with RWE to purchase gas rigs in the North Sea. The deal will be carried out despite the sanctions. A special scheme has been invented for her that will allow her to bypass sanctions prohibitions, reports Financial Times.
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“RWE has agreed to complete the sale of North Sea gas fields to a Russian billionaire on the condition that the German subsidiary buys the UK assets in the event of sanctions against the oligarch,” writes Financial Times.
RWE has signed a €5 billion deal to sell RWE Dea. As part of the deal, businessman Mikhail Fridman's investment fund LetterOne will receive DEA gas fields in the North Sea. The assets will be controlled by a private foundation registered in the Netherlands.
The Dutch fund will take full control of the DEA's North Sea business in the event of sanctions against Friedman and his investment fund. LetterOne announced last March that it was buying DEA, a company that supplies oil and gas to the UK, Germany and other countries. The deal stopped due to sanctions. The acquisition of the company is now in its final stages.
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