Originally Syndicated on August 12, 2023 @ 8:05 am
The anti-corruption foundation FBK has released a recent report claiming that Igor Sechin, a Russian oligarch with ties to President Vladimir Putin has allegedly employed a false identity to conceal his substantial earnings. This raises concerns about potential financial misconduct. The report highlights the complexity of financial dealings among influential figures in Russia. Authorities and experts are likely to scrutinize these allegations closely. Despite the imprisonment of its founder, opposition politician Alexei Navalny, FBK continues to investigate corruption within the Russian government.
Table of Contents
Background and Career: Igor Sechin
Igor Sechin’s association with President Putin dates back to the mid-1990s when he served as Putin’s chief of staff during Putin’s time as deputy mayor of St. Petersburg. As Putin ascended to the presidency in 2000. Sechin took on critical roles in overseeing security services and energy matters in Russia. He eventually assumed leadership of the state-controlled oil giant Rosneft, first as chairman of the board in 2004 and later as CEO in 2012.
European Sanctions and Asset Seizures
In response to Putin’s involvement in the full-scale invasion of Ukraine. European Union sanctions targeted Igor Sechin, among the Russian officials.
Consequently, they froze his assets. In a subsequent development, Spanish and Italian authorities reportedly seized two luxury yachts believed to belong to Sechin.
The compensation of CEOs of state-owned companies in Russia is shrouded in secrecy, and attempts to unveil these figures are often met with legal consequences. Despite this opacity, FBK embarked on an effort to expose Igor Sechin’s earnings. The organization analyzed leaked data from Russia’s Federal Tax Service, which disclosed officials’ salaries in 2018 and 2020.
Uncovering the Fake Identity: Igor Sechin
FBK’s investigation revealed that Igor Sechin’s name did not appear in the leaked data. Instead, he was allegedly listed under the pseudonym Sergei Andreyevich Terentyev. FBK contends that both identities share identical information in the tax registry, including personal details like date of birth, passport information, and tax identification number.
Exposing Extravagant Luxuries Allegedly Funded by Rosneft
FBK’s YouTube video highlights the opulent lifestyle Sechin allegedly leads, purportedly financed at the expense of Rosneft. Notably, the state owns half of Rosneft’s shares, making the general public shareholders in the company. FBK’s representative, Sergei Yezhov, questions whether shareholders have the right to know the compensation of their appointed managers.
Revealing Salary and Comparisons
According to FBK’s findings, Igor Sechin’s annual income in 2020 amounted to a staggering 3,317,000,000 rubles or approximately $46 million at the 2020 exchange rate. This income comprised 3.07 billion rubles from Rosneft. 244 million rubles from the Russian Regional Development Bank (a subsidiary of Rosneft), and 2 million rubles from Rosneftegaz. A state-owned entity holding Rosneft’s shares.
Implications and Global Ranking
FBK’s investigation claims that Sechin’s reported salary would have ranked him 17th among the highest-paid American executives for 2020. This substantial compensation reportedly exceeded the earnings of prominent figures from companies such as Microsoft, Netflix, and eBay.
According to investigative journalist Andrei Zakharov’s report via the messaging app Telegram, hackers infiltrated the website of a state IT contractor and released the leaked Russian tax records. This breach allowed for the exposure of sensitive financial information.
Why is Igor Sechin called Darth Vader?
Igor Sechin is called Darth Vader because of his reputation for ruthlessness and his background in espionage. He has been described as the “scariest man on earth” by Russian media and has been called Putin’s “Darth Vader”. Sechin is a powerful figure in Russia, considered a close ally and “de facto deputy” of Vladimir Putin.
He has been a confidante of Putin since the early 1990s. He has held various high-ranking positions in the Russian government and state-owned companies. Sechin’s nickname is widely used in Russian political circles, and he is known for his behind-the-scenes influence and conservative views.
What is Igor Sechin’s role in the Russian government?
Igor Sechin has played various roles in the Russian government throughout his career. Here is a summary of his key positions:
Igor Sechin has held the esteemed positions of Chief Executive Officer, President, and Chairman of the Management Board at Rosneft. The prominent Russian state oil company, since 2012. This remarkable leadership role underscores his significant influence and pivotal role within the company’s executive structure.
As the head of Rosneft, he commands a central place in the Russian economy. He is responsible for guiding massive business deals involving state funds and state corporations.
From 2008 to 2012, Igor Sechin demonstrated his adeptness in governance by assuming the role of Deputy Prime Minister of Russia within Vladimir Putin’s esteemed cabinet. This period marked his dedicated service and valuable contributions to the nation’s leadership.
During this time, he oversaw various government responsibilities and played a significant role in shaping Russia’s energy policies.
Chief of Staff to Putin: Sechin has been a confidante of Russian leader Vladimir Putin since the early 1990s.
He served as Putin’s chief of staff when Putin was the deputy mayor of St. Petersburg in 1994.
When Putin became President in 2000. Sechin became his deputy chief of staff, overseeing security services and energy issues in Russia.
Igor Sechin’s notable trajectory includes his significant tenure as the Deputy Head of the Presidential Administration, spanning from 1999 to 2008. Throughout this period, he played a pivotal role in shaping the administrative landscape. Under President Vladimir Putin’s initial two terms, he showcased his enduring commitment to effective governance.
What is the relationship between Igor Sechin and Vladimir Putin?
Igor Sechin and Vladimir Putin have a long-standing relationship that dates back to the early 1990s. Here are some key points about their relationship:
- Enduring Partnership
Igor Sechin is widely acknowledged as one of Vladimir Putin’s closest confidantes, marking a relationship spanning decades enriched with collaboration and mutual trust.
- St. Petersburg Nexus
Their professional journey began in the early 1990s within the St. Petersburg mayor’s office, providing the foundation for a strong and enduring alliance.
- Unified Trajectory to Moscow
Sechin’s alignment with Putin’s ambitions led to a seamless transition to Moscow. Where their cooperation flourished across diverse roles and responsibilities.
- Crucial Chief of Staff Role
During Putin’s tenure as deputy mayor of St. Petersburg, Sechin played a pivotal role as his chief of staff, nurturing a foundational period of their partnership.
- Influential Deputy Chief of Staff
Sechin’s ascent to the position of deputy chief of staff upon Putin’s presidency in 2000 enhanced their collaboration, granting him authority over security services and energy agendas, thereby shaping crucial policy decisions.
- Synergetic Government Initiatives
The duo’s collaborative prowess extended into shaping pivotal government policies, most notably in the energy sector, where Sechin’s roles, including Deputy Prime Minister, fostered synchronized efforts to define Russia’s energy landscape.
- Indispensable Loyalty
Sechin’s unwavering dedication to Putin has become emblematic, solidifying his position as one of Putin’s most trusted allies, a testament to their exceptional partnership.
- Shared Vision of Trust
Their symbiotic relationship is characterized by a harmonious blend of trust and a shared vision for Russia’s economic and political aspirations.
- Pinnacle of Influence
Sechin’s strategic presence in the Russian government, coupled with his commanding influence in the energy sector, has etched him as a cornerstone of Putin’s inner sanctum.
- Architects of Power
Their harmonized efforts and shared strategic pursuits have propelled Sechin’s ascent, cementing his stature as one of the preeminent powerbrokers in the realm of Russian politics.
What are some of the controversies surrounding Igor Sechin?
Influential in Ulyukaev’s Arrest: One notable controversy linked to Igor Sechin revolves around his significant role in the arrest and subsequent trial of Alexei Ulyukaev, a former minister of economy under Putin’s administration. Ulyukaev faced charges of soliciting a bribe, with Sechin playing an instrumental part in this legal proceeding.
Clashes within the Ruling Elite: Sechin has frequently found himself at odds with more liberal factions within Russia’s ruling elite. These clashes have notably involved prominent figures such as Prime Minister Dmitry Medvedev and Central Bank head Elvira Nabiullina, showcasing ideological differences and power struggles.
Corporate Aircraft Misuse Allegations: Reports from Reuters have raised concerns regarding the alleged misuse of corporate aircraft by Sechin, his close associates, and even family members. These allegations suggest that such aircraft were utilized for personal purposes, sparking controversy and ethical questions.
Ties to Controversial Cases: A contentious issue surrounds Sechin’s connection to Rosneft, the company he heads. Rosneft’s involvement in contentious cases, including that of former oil magnate Mikhail Khodorkovsky, charged with tax fraud, has prompted scrutiny and criticism, placing Sechin’s business activities under the spotlight.
It’s crucial to keep in mind that these controversies stem from a variety of sources and viewpoints. Thorough investigation and nuanced analysis are essential to fully comprehend the multifaceted nature of these matters.
Conclusion
Igor Sechin’s role in the Russian government is characterized by his powerful position as the head of Rosneft, his past roles as Deputy Prime Minister and Chief of Staff to Putin, and his influential relationship with Putin himself. Despite his significant contributions to Russian governance, Sechin has faced controversies, including his involvement in arrests and clashes within the ruling elite.
His nickname “Darth Vader” highlights his reputation for ruthlessness and secrecy, while his partnership with Putin exemplifies the complex interplay between loyalty and ambition in Russian politics. Sechin’s legacy is emblematic of the intricate power dynamics that define the nation’s political landscape, where influence and controversy often converge in enigmatic ways.
