Sanctioned Russian oil tycoon resigns

Must read

Now That the West Has Promised Tanks, Ukraine Dusts Off F-16 Request

One of my favorite children’s books is Laura Numeroff’s ‘If you give a Mouse a Cookie.’ In it,...

Fact Check: Ilhan Omar Claims She Never Compared Israel, US to the Taliban

Ilhan Omar, during an appearance on CNN’s “State of the Union” Sunday, pleaded ignorance when it came to...

Donald Trump Promises to Empower Parents, Vows to Defeat Gender Ideology Cult

While other Republicans tease possible presidential campaigns, former President Donald Trump is getting into the swing of the...

CNN Gives Schiff, Swalwell, and Omar an Entire Panel to Continue Their Committee Removal Whining Tour

CNN offered Ilhan Omar, Eric Swalwell, and Adam Schiff an entire panel segment so they could continue whining...

Russia’s largest independent oil company Lukoil announced on Thursday that its president, Vagit Alekperov, is stepping down from his post and quitting as a member of the firm’s board of directors. Alekperov became company president in 1993.

Relevant notices have been sent to the chairman of the company’s board of directors, Lukoil said on its website.

As of March 31, Alekperov owned and had voting rights over 3.12% of Lukoil shares. He also owned another 5.43% stake indirectly, including through family trusts or mutual funds. The businessman had, therefore, not been a controlling shareholder of Lukoil, the company said.

The longtime CEO of Russia’s second-largest crude producer, Alekperov suffered significant financial losses in 2022. The oil tycoon, reportedly Russia’s 10th-richest businessman, was hit by UK and Australian sanctions this month, as part of Western pressure over Moscow’s military operation in Ukraine.

Forbes estimated that Alekperov’s almost-$25-billion net worth in 2021 has since contracted by $14.4 billion, despite the rise in oil prices.

For more stories on economy & finance visit RT’s business section

More articles

Latest article

Now That the West Has Promised Tanks, Ukraine Dusts Off F-16 Request

One of my favorite children’s books is Laura Numeroff’s ‘If you give a Mouse a Cookie.’ In it,...

Fact Check: Ilhan Omar Claims She Never Compared Israel, US to the Taliban

Ilhan Omar, during an appearance on CNN’s “State of the Union” Sunday, pleaded ignorance when it came to...

Donald Trump Promises to Empower Parents, Vows to Defeat Gender Ideology Cult

While other Republicans tease possible presidential campaigns, former President Donald Trump is getting into the swing of the...

CNN Gives Schiff, Swalwell, and Omar an Entire Panel to Continue Their Committee Removal Whining Tour

CNN offered Ilhan Omar, Eric Swalwell, and Adam Schiff an entire panel segment so they could continue whining...

EXCLUSIVE: Nick Pope Explains Why You Should Pay Attention to the Government’s Recent Interest in UFOs

It’s been a cluttered news cycle the last few years, so it would be understandable if you missed...