Share

US sanctions prevent tycoon from using jet

Moscow - A businessman and associate of Vladimir Putin said he cannot use his luxury jet because of US sanctions over the crisis in Ukraine, a Russian news agency reported.

Gennady Timchenko, a major shareholder in Russia's No.2 gas producer Novatek, told Itar-Tass that Gulfstream Aerospace had withdrawn technical support for his jet.

His comments indicated that the G650 jet, which Itar-Tass said was worth $64.5m, had been grounded in Moscow.

"Sanctions are coming out in the quaintest of ways," Timchenko said in the interview with Itar-Tass. "The company Gulfstream has stopped fulfilling its contract obligations by suspending my jet flights."

Timchenko was included on a US list of individuals subject to asset freezes and visa bans after Russia's annexation of Crimea in March.

"Gulfstream is prohibited from having any contacts with me. They cannot discuss either future supplies of already ordered jets or the operation of this one," the businessman said.

Gulfstream, which is owned by General Dynamics and based in Savannah, in the US state of Georgia, did not immediately respond to Reuters' requests for comment on Sunday.

Itar-Tass quoted Gulfstream as saying it was not aware of any problems with its technical support service for jets in Russia.

Timchenko is one of Russia's richest businessman and has been quoted as saying he has known Putin since at least 1990 but denies that the president has helped him in his career.

Timchenko sold his 43% stake in global commodities trader Gunvor Group to chief executive Torbjorn Tornqvist on March 19, just before he was hit by sanctions.

The United States and European Union have imposed sanctions on Russia because they accuse Moscow of arming pro-Russian separatists who have risen up in eastern Ukraine.

They want Putin to do more to end the conflict. Russia denies the accusations and says the West is trying to reduce its global influence.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.21
-0.5%
Rand - Pound
23.95
-0.7%
Rand - Euro
20.56
-0.5%
Rand - Aus dollar
12.48
-0.7%
Rand - Yen
0.12
-0.2%
Platinum
912.40
-0.8%
Palladium
1,005.00
-2.1%
Gold
2,314.58
-0.3%
Silver
27.17
-0.5%
Brent Crude
88.42
+1.6%
Top 40
68,574
+0.8%
All Share
74,514
+0.7%
Resource 10
60,444
+1.4%
Industrial 25
104,013
+1.2%
Financial 15
15,837
-0.4%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders