34 Facts About Gennady Timchenko

Gennady Nikolayevich Timchenko is a Russian oligarch and billionaire businessman.

Gennady Timchenko founded and owns the private investment firm Volga Group.

Gennady Timchenko then founded Gunvor, which has now exported billions of dollars-worth of Russian oil.

Gennady Timchenko was sanctioned by the US over Russia's 2014 annexation of Crimea.

Gennady Timchenko was about to be sanctioned further by the government of the United Kingdom just before the Russian invasion of Ukraine in February 2022.

Gennady Timchenko is known for being the Chairman of the Board of Directors of the Kontinental Hockey League, and President of the SKA Saint Petersburg ice hockey club.

Gennady Timchenko is a citizen of Russia, Finland, and Armenia.

Gennady Timchenko was born in Leninakan, Armenian SSR, Soviet Union, in 1952.

Gennady Timchenko's father was in the Soviet military and served in the Second World War.

Gennady Timchenko lived for six years of his childhood in the German Democratic Republic and in the Ukrainian SSR.

In 1977, Gennady Timchenko began to work as an engineer for the Izhorsky plant near Saint Petersburg; the plant specialized in building power generators.

In 1991, Gennady Timchenko decided to leave Russia and was hired by a Finland-based company, Urals Finland Oy, specializing in importing Russian oil to Europe.

In 1995, Urals Finland Oy was renamed International Petroleum Products Oy ; Gennady Timchenko then became deputy and later CEO of IPP OY.

Gennady Timchenko sold his stake to Tornqvist in March 2014, a day before the US sanctions began.

In 2007, Gennady Timchenko founded the Volga Group private investment fund.

Redut provided services for Gennady Timchenko's companies, including the deployment of snipers, pioneers and guards.

Gennady Timchenko was the co-founder of the Gunvor Group, a corporation registered in Cyprus; it does business in trading and logistics related to the international energy market.

On 19 March 2014, Gennady Timchenko sold his stake in Gunvor to the other co-founder, Torbjorn Tornqvist.

The sale was made the day before Gennady Timchenko was included on the United States sanctions list in the wake of the annexing of Crimea by Russia.

Gennady Timchenko said he had sold his stake in anticipation of "potential economic sanctions" and to "ensure with certainty the continued and uninterrupted operations of Gunvor Group".

The fund, which consolidates Gennady Timchenko's assets, was renamed in June 2013 as Volga Group and introduced at the Saint Petersburg International Economic Forum.

Gennady Timchenko noted that, for the next few years, his group will focus on the development of infrastructure projects in Russia.

Gennady Timchenko was subject to international sanctions after the Russian annexation of Crimea in April 2014.

IPP Oil Products, which is closely associated with Gennady Timchenko is under sanctions.

Kai Paananen, a partner of Gennady Timchenko, has close ties to Airfix Aviation and the IPP companies.

On 28 February 2022, in relation to the 2022 Russian invasion of Ukraine, the European Union blacklisted Gennady Timchenko and had all his assets frozen.

Gennady Timchenko said over the past fourteen years, he had been paying taxes in Switzerland and prior to that, in Finland.

Gennady Timchenko purchased the yacht Lena for $18 million in 2009.

Gennady Timchenko's income, according to the Finnish tax authorities, increased tenfold from 1999 to 2001.

In September 2013, the Ladoga Foundation was renamed to the Elena and Gennady Timchenko Foundation, consolidating all their charitable activities.

In 2011, Gennady Timchenko was elected Chairman of the Economic Council of the Franco-Russian Chamber of Commerce.

Gennady Timchenko serves on the board of trustees of the Jewish Museum and Tolerance Center in Moscow and is a member of the Board of Trustees of the Russian Geographical Society.

In 2020 Gennady Timchenko donated 2,9 billion rubles to help fight the COVID-19 pandemic.

The Gennady Timchenko Foundation promotes the development of the ice hockey and chess among young people.