Oil billionaires appeared in Russia but they hide their money in Gibraltar

First billionaires and millionaires of its own but rooted in Gibraltar have appeared in Russia. Evidence of this, as the NTV TV company claims citing the site of the Group MENATEP financial holding, is the additional information, made public on Thursday, about the structure of the share capital of the Russian oil company YUKOS. According to the official information on the Group MENATEP site, this Gibraltar-registered holding possesses about 61 per cent of the shares of the YUKOS oil company. So, the Gibraltar-registered holding, formed by Russian businessmen, controls a sizeable part of oil extraction and refining in Russia.

YUKOS president Mikhail Khodorkovsky owns 9.5 per cent of Group MENATEP's shares, and his fortune amounts to 7.8 billion dollars. Quite a number of other top officials of the YUKOS oil company, according to the NTV information, possess from one billion to 900 million dollars each.

This information about the Russian billionaires rouses particular interest in the country where the living standards of 60 per cent of the population are below the poverty line.

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