Steyer hedge fund tied to Russian oligarch targeted by U.S. sanctions

Steyer hedge fund tied to Russian oligarch targeted by U.S. sanctions

The hedge fund founded and, until recently, run by billionaire environmentalist Tom Steyer was involved in a deal to sell a stake in a Russian oil company to a Russian oligarch who is the target of U.S. sanctions.

Farallon Capital Management sold a part of its stake in Russian firm Geotech Oil Services to the Volga Group, a Luxembourg-based investment firm owned by Russian billionaire Gennady Timchenko, in 2010.

Four years later, in April 2014, the U.S. Treasury Department announced that it would target Timchenko, Volga, and a number of companies associated with them, in a round of sanctions aimed at punishing Russia’s inner circle of oligarchs for the government’s invasion of Crimea.

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