ST. PETERSBURG, May 22. /ITAR-TASS/. Gennady Timchenko, Russia’s prominent businessman and public figure, intends to transfer all his assets to Russia before the end of 2014. He made this statement in an interview to the Rossiya 24 TV channel within the framework of the St. Petersburg International Economic Forum (SPIEF).
“Sanctions make us pick up the pace, because we, as businessmen, would not want to be dependent on some political decisions. Therefore, we currently think (on this issue) and pursue such policy. It will cost us not very much if we transfer all the assets here. Yes, we will have to pay some taxes, but they will be spent on the salaries for our doctors, teachers, replenish the Russian budget. I think that we can do this already today,” Timchenko said.
According to him, the process of the assets transfer to Russia may be finished by the end of the current year.
Gennady Timchenko is the main shareholder of Volga Group, one of the largest private investment groups in Russia, uniting investments of 18 companies operating on the Russian and international markets. The total consolidated proceeds of companies with the participation of Volga Group in 2012 accounted for $116 billion. Volga Group’s major investments include NOVATEK, SIBUR, Transoil, STG Group.