Sanctioned Russian oil tycoon resigns

Must read

Video Of Atlanta VA Clinic Employee Mercilessly Beating Vietnam Veteran Is Latest In Horrific VA Abuses

Justin Gray of WSB-TV Atlanta released a disturbing video this week that shows an Atlanta VA clinic patient...

Biden’s Abuse Of The Defense Production Act Will Drive Gas Prices Even Higher

By Jason Isaac for RealClearPolicy Gas prices have driven many a voter to the polls in...

Report: Americans’ Retirement Accounts Have Lost Trillions – TRILLIONS – In 2022

As if day-to-day living expenses weren’t depressing enough, a quick peek at your 401(k) statements might prove to...

Politico Reporter: Two Democrat Lawmakers Privately Admit ‘Nobody Gives A Bleep About January 6’

Politico correspondent Betsy Woodruff Swan revealed at least two Democrat lawmakers speaking with her privately have admitted: “Nobody...

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

Video Of Atlanta VA Clinic Employee Mercilessly Beating Vietnam Veteran Is Latest In Horrific VA Abuses

Justin Gray of WSB-TV Atlanta released a disturbing video this week that shows an Atlanta VA clinic patient...

Biden’s Abuse Of The Defense Production Act Will Drive Gas Prices Even Higher

By Jason Isaac for RealClearPolicy Gas prices have driven many a voter to the polls in...

Report: Americans’ Retirement Accounts Have Lost Trillions – TRILLIONS – In 2022

As if day-to-day living expenses weren’t depressing enough, a quick peek at your 401(k) statements might prove to...

Politico Reporter: Two Democrat Lawmakers Privately Admit ‘Nobody Gives A Bleep About January 6’

Politico correspondent Betsy Woodruff Swan revealed at least two Democrat lawmakers speaking with her privately have admitted: “Nobody...

Justice Alito’s Opinion Doesn’t Just Overturn Roe v. Wade, It Shreds It to Pieces

The Supreme Court on Friday overturned the landmark Roe v. Wade decision that legalized abortion at...