Posts Tagged ‘Gennady Timchekon

22
Feb
12

Reporters Find No Substantial Links between Vladimir Putin and Gennady Timchenko

For years, media sources have been opining about the purported links between Vladimir Putin and Gennady Timchenko.  Journalists quote sources—particularly those whom for one reason or another cannot substantiate what they state—claiming Vladimir Putin and Gennady Timchenko are “close friends.” Still others argue the Russian Prime Minister holds “secret shares” worth millions in Gunvor, an oil trading company owned by Gennady Timchenko.

Vladimir Putin is obviously in the public eye: there’s no escaping that fact. As such, he’s the aim of praise and in equal or greater measure, criticism.  But Gennady Timchenko is a different story. The Finnish businessman and oil trading head of Gunvor has wisely stayed out of the public eye for the entirety of his career, excepting his annual placement on Forbes’ billionaires list.  Nevertheless, Gennady Timchenko’s been reeled into the media circus surrounding Russian politics and the country’s leading officials such as Vladimir Putin. 

In 2008, Gennady Timchenko authored an open letter to say that the media’s speculation that he enjoyed special ties with Vladimir Putin was “overblown.” More recently, numerous media publications have published public apologies, corrections, or retractions for waging baseless claims about Gennady Timchenko’s purported connection to Vladimir Putin.  Or, more quietly, news sources have indicated that no meaningful links between Vladimir Putin and Gennady Timchenko have been found to date. 

One example of the media’s fallibility when it comes to Gennady Timchenko is perhaps best illustrated with The Economist.  The magazine published a dizzying dog-chasing-his-tail story on corruption in Russia that mentioned Gennady Timchenko’s alleged links with Vladimir Putin.  What happened after? The Economist issued a public correction to the story and admitted it published inappropriate and unchecked information about Gennady Timchenko.  An excerpt of The Economist apology reads as follows:

“We are happy to make it clear that when we referred to the ‘new corruption’ in today’s Russia, we did not intend to suggest that either Gunvor or Mr Timchenko obtained their Russian oil business as a result of payment by them of bribes or like corrupt inducements . . . We accept Gunvor’s assurances that neither Vladimir Putin nor other senior Russian political figures have any ownership interest in Gunvor. We regret if any contrary impression was given.”

Now that Russia’s election season has begun, let’s hope the media can keep their attention on the political candidates and leave today’s leading businessmen alone.