Russian billionaires acquire stake in UK's largest oil and gas producer
Russian billionaires Mikhail Fridman and Petr Aven have acquired a 15% stake in Harbour Energy, the UK’s largest oil and gas production company, according to a BBC report.
Though the deal grants them a piece of the profits, their company, LetterOne, will not have voting rights. The source also indicates that LetterOne itself is not under Western sanctions, nor is there a direct connection between Fridman, Aven, and the company.
Presently, Harbour Energy stands as one of the leading companies engaged in oil and gas extraction in British territorial waters. The company previously acquired significant assets from Wintershall DEA and BASF's gas operations.
It’s important to note that both Fridman and Aven have been under Western sanctions since March 2022. They own approximately 50% of LetterOne's shares, with the remaining 50% held by another Russian, Andrey Kosogov, who is not under sanctions.