June 11, 2008 By James Kimer

Russia’s Mysterious, Faceless New Oil Plutocrat

anonymous061108.jpgNot long ago, the Financial Times did some digging around Geneva-based oil trader Gunvor, which later prompted a defensive letter to the editor from the shadowy owner Gennady Timchenko. Today we finally have the very first interview with him in the Wall Street Journal, which attempts to get a better look at arguably one of the most important individuals in the oil sector. He is believed to be worth at least $20 billion, helped certain Kremlin bureaucrats devour the assets of Yukos, and is said to be Vladimir Putin’s principal oligarch operator. Timchenko vigorously denies these allegations, as well as any former role in the KGB or any privileged relationship with Putin. For the WSJ interview, he made two conditions: no photograph could be published, and the location of Gunvor’s operations in Geneva must not be revealed. Enjoy the story – it’s a wild one…

Secretive Associate of Putin Emerges As Czar of Russian Oil Trading In First Interview, Timchenko Denies Ties; Rivals Face Hurdles By ANDREW HIGGINS, GUY CHAZAN and ALAN CULLISON GENEVA — Gennady Timchenko, the world’s most powerful independent trader of Russian oil, says he’s too busy to see his old acquaintance Vladimir Putin, Russia’s most powerful man. “I don’t have time to meet with him,” the elusive Geneva-based businessman said in his first media interview, held early last month. “And he doesn’t have time to meet with me, probably.” Five days later, Mr. Timchenko was in St. Petersburg for a private banquet attended by Mr. Putin, now Russia’s prime minister after serving eight years as president. Both were guests at a party for the Yavara-Neva Judo Club, which counts Mr. Timchenko as co-founder and Mr. Putin as honorary chairman.