“We have big co-operation prospects in various spheres ranging from electric power engineering to agriculture,” the business ombudsman said. “We hope that the number of joint projects between Russian and Chinese entrepreneurs and trade turnover between the two countries will be growing.”
In March, Gennady Timchenko was put on the US black list that provides for blocking of all assets of the businessman in the United States and visa restrictions in connection with Russia’s position on Ukraine.
Timchenko owns the companies Volga Group, Transoil, Stroytransgaz, Avia Group, Sakhatrans and others. Timchenko sold his main asset — 44% of shares of the oil trader Gunvor to his partner Torbjorn Tornqvist a day before the introduction of the sanctions. Gunvor, which was founded in 2000, is the fourth largest crude oil trader in the world after Glencore, Vitol, and Trafigura.