Skip to content

Corruption Ledger

The Public Ledger of Corruption

  • Home
  • About CL
  • Rumble
  • Video
  • corruption
    • corporate corruption
    • government corruption
    • leaks
    • Misinformation
    • Surveillance
  • cryptocurrency
  • Sanctions Feeds
    • All Sanctions Feeds
    • Canadian Sanctions
    • US Sanctions
  • Toggle search form

The sanctions smoke screen: ongoing business partnerships the press missed

Posted on April 18, 2022April 19, 2022 By CorruptionLedger No Comments on The sanctions smoke screen: ongoing business partnerships the press missed

You don’t want to call sanctions a hoax because they legitimately put compliance pressure on our businesses and people. But do they put any pressure on the actual targets? It’s part of our news cycle and even our language to think so. After all, what is a “sanction” if not a punishment for breaking the rules?

In a move that was presented as severe by the press and by government, the Treasury Department promised sanctions on the Russian Direct Investment Fund (RDIF), though virtually everyone acknowledges this will have no immediate effect. What is not as widely known is that it will have almost no noticeable impact at all. RDIF is a case study in an ongoing theme.

The RDIF entity is still partnered with western corporations and will continue to be. If this sounds far-fetched, you’ve been deceived, along most of the population.

Before considering the many partnerships that remain in tact despite sanctions, note one American entity that seems to be taking no measures at all to conceal the truth about RDIF.

The threat of sanctions was announced at the beginning of this month but did not deter New York-based Global SWF LLC from boasting that “RDIF Shrugs Off Geopolitical Risks” and that “Co-Investment Partners are Undeterred.” (Source) I would like to thank them for their honesty in spelling out precisely why sanctions are a smoke screen:

The fund has largely remained untouched by the sanctions with a raft of co-investments with foreign peers over the years. The Fund plays an important role in Russia’s industrial policies and it has attracted over US$40 billion into joint funds from 16 different countries. It has created joint investment plants with: the Kuwait Investment Authority (KIA), the Korean Investment Corporation (KIC), Abu Dhabi’s Mubadala, the Qatar Investment Authority (QIA), the China Investment Corporation (CIC), Bpifrance, and Bahrain’s Mumtalakat. Altogether, these pledged more than US$6 billion of inward investment in the Russian economy.

Ironically, Russia holds the presidency of the UN Security Council–a body allegedly tasked with “maintenance of international peace and security.” (Source) Global SWF has pointed out how this advantage protects RDIF and preserve Russia’s economic strength, highlighting the differences between possible RDIF sanctions with Iranian sanctions (which did harm the Iranian people):

Sanctions on Iran have hampered economic relations with Europe in particular, while relations with most Gulf Arab states were already under pressure. Nevertheless, the country has circumvented the sanctions regime through closer relations with China. RDIF has also forged robust relations with China, particularly via the Russia-China Investment Fund which was established in late 2019, and Beijing is likely to remain a loyal Moscow ally for the foreseeable future.

The same may not be true of RDIF’s relationships with its French and Korean peers while Arab funds are likely to slow rather than break their deals with Russia…

Russia also has an additional advantage Iran lacks: permanent membership of the UN Security Council, which it can use to veto action against it – with the support of allies like China and others. RDIF will benefit from Russia’s geopolitical clout.

RDIF has also forged robust relations with China, particularly via the Russia-China Investment Fund which was established in late 2019, and Beijing is likely to remain a loyal Moscow ally for the foreseeable future.

BPIFrance and SWF are aren’t the only western corporations enjoying business partnerships with RDIF. Stephen Schwarzman, Blackstone’s co-founder and chair, joined RDIF’s international advisory board in 2011 (Source) and Blackrock UK has partnered with RDIF before; Blackrock has also received RDIF’s sponsorship to purchase a stake in a Russian company. (Source) A quick search will show a large number of investments with several western entities. (Source)

Interestingly, in its defense of RDIF, Global SWF LLC claims that “RDIF itself is not a legal entity.” This can be confusing, as multiple sources identify “Russian Direct Investment Fund Management Co” as a private equity firm that invests in multiple industries and “Russian Direct Investment Fund Management serves customers in Russia.” Hidden behind complex corporate structures, no doubt, it is difficult to imagine what else the companies could be if not legal entities. Are they chimeras? Unicorns?

The entities were legal enough to land on the Sectoral Sanctions Identifications (SSI) List in 2015 (for all the good that did) and legal enough to to invest in US-based and British-led technology company, Virgin Hyperloop One (headed by Sir Richard Branson, UK), even while sanctioned. (Source) Perhaps it is the group’s complex structure that allows it to bypass sanctions and continue to thrive, making the freezing of its accounts more difficult than freezing the bank accounts of Canadians who were suspected of having participated in the Truckers’ Convoy protests, for instance. (Source) A little help from the west doesn’t hurt.

This is to say nothing of the individuals who should have been sanctions, for consistency, but were not. Take a look at Roman Abramovich, “who owns stakes in steel giant Evraz, Norilsk Nickel and the U.K.’s Chelsea soccer team.”

Even as Canada, U.S., UK and other nations “have ramped up sanctions on more than 100 Russian individuals and entities, these assets of the country’s elite have avoided any direct hit. So too have their high-end real estate holdings, which in London range from Chelsea penthouses to Highgate mansions.” (Source) A similar tale to that of RDIF can be told for several other individuals and entities on current sanctions lists. Their western ties run too deep for sanctions to deal a crippling blow — and these aren’t ‘deep ties’ in any vague sense. The corporate ties are clearly documented in trade documents, Shareholder Agreements documented by the Securities and Exchange Commission itself, corporate registries and official press releases. Where are the anti-corruption journalists covering these? The following sources may help fill in the blanks.

RDIF and Titan (one of many publicly available SEC documents)

RDIF Feeder and other entities, both dissolved and active

The State Bank of India (SBI) and the Russia Direct Investment Fund (RDIF)

Russian Direct Investment Fund and China Investment Corporation (CIC)

RDIF and Black River, Algorithmics

RDIF and Silver Lake Partners, KKR and UFC

. . . . . . . . . . . . .

  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Telegram (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
corruption, misinformation & censorship, sanctions, war Tags:Bank Fraud, Blackrock, Blackstone, Bpifrance, Chelsea football team, China Investment Corporation, Fraud, Government Misinformation, Korean Investment Corporation, RCIF, RDIF, Russia-China Investment Fund, Russian Direct Investment Fund, Russian Direct Investment Fund Management, Sectoral Sanctions Identifications, Sir Richard Branson, UN Security Council, Virgin Hyperloop One

Post navigation

Previous Post: Corporate home buyouts: homelessness, mortgage & rent crisis rising
Next Post: Video Documents Mariupol Mass Graves Hoax (Eva Bartlett)

Related Posts

  • Boeing ordered to be arraigned on charge in Max Jet crashes corruption
  • North Korean National Mun Chol Myong Sentenced in the U.S. for Money Laundering to acquire goods for North Korea sanctions
  • Court Orders Five Defendants in International Ponzi Scheme to Pay Over $13.1 Million corruption
  • Peru closes Machu Picchu as protesters face arrest in Lima anti-government resistance
  • Russia asks for UNSC meeting to discuss strikes on Zaporizhzhia nuclear power plant human rights
  • Ex-Tokyo Olympics official Takahashi granted ¥80 million bail in bribery case corruption

Comment Cancel reply

  • Glenn Greenwald: Revealed – Mass Media Complicity in “Russian Disinformation” Fraud, w/ Matt Taibbi | SYSTEM UPDATE #30January 30, 2023
  • Reports of drone attacks in Iran and SyriaJanuary 29, 2023
  • AP: Ukraine Corruption Scandal; U.S. likely to OK sending Abrams tanksJanuary 29, 2023
  • Classified documents probe pushes Biden think tank into spotlightJanuary 29, 2023
  • British PM Sunak fires party chairman over tax bill allegationsJanuary 29, 2023
  • North Korea calls U.S. pledge of tanks to Ukraine ‘unethical crime’January 28, 2023
  • Usain Bolt fires business manager over Jamaica fraud caseJanuary 27, 2023
  • Canada’s Supreme Court gives mixed rulings on gun crime penaltiesJanuary 27, 2023
  • China, U.S. spar at WTO meeting over disputesJanuary 27, 2023
  • David J. Miller and Minnesota Independent Cooperative, Inc., Convicted in Multi-Million-Dollar Prescription Drug Diversion SchemeJanuary 27, 2023
  • Philippines to appeal ICC resumption of drug war probe: Thousands deadJanuary 27, 2023
  • Turkey says Sweden complicit in hate crime, NATO talks pointlessJanuary 26, 2023
  • Five Members and Associates of White Supremacist Gang Sentenced to Life in Prison for Racketeering, Kidnapping, and MurderJanuary 26, 2023
  • Justice Department Finds Louisiana Department of Public Safety and Corrections Violates the Constitution By Incarcerating People Beyond Their Release DatesJanuary 25, 2023
  • Four Men Convicted of Engaging in a Child Exploitation EnterpriseJanuary 25, 2023
  • AP: Twitter faces lawsuits over unpaid rent for HQ offices in U.S., UKJanuary 24, 2023
  • U.S. Justice Department sues Google over digital advertising dominanceJanuary 24, 2023
  • Defence minister won’t say whether Canada is willing to send battle tanks to UkraineJanuary 23, 2023
  • Norway detains former top Wagner Group member seeking asylum, Andrey MedvedevJanuary 23, 2023
  • Finance companies and their directors fined for misconductJanuary 23, 2023
  • anti-government resistance
  • corruption
  • crime
  • dimwit crimes
  • economy
  • human rights
  • investigations
  • leaks
  • misinformation & censorship
  • political unrest
  • regulatory
  • sanctions
  • surveillance & privacy
  • war
  • who cares?

Corruption Ledger Follow

The Public ▇▇▇ Ledger of ▇▇▇ Corruption. https://t.co/wkobrEotQR

5amResearch
Corruption Ledger @5amresearch ·
4h

Cryptome content is reliable. Why is their @Twitter account permanently banned, however? https://twitter.com/Cryptome_org @Cryptome_org

Alex @Alex06944477

@MsQuitoSwarm @YouTube This seems to be legit, i read about the CIA-Operation "Aerodynamic" on the heise online german news platform
https://cryptome.org/2016/01/cia-ua-aerodynamic.pdf

Reply on Twitter 1622040205074075652 Retweet on Twitter 1622040205074075652 Like on Twitter 1622040205074075652
Retweet on Twitter Corruption Ledger Retweeted
System Update @systemupdate_ ·
2 Feb

.@RepMTG on protecting whistleblowers like Snowden & Assange:

“When a govt. is trying to stop the truth from being told… that’s something to pay attention to… We have to do everything we can to protect those whistleblowers who are risking their lives to tell the truth.”

Reply on Twitter 1621266228009394179 Retweet on Twitter 1621266228009394179 119 Like on Twitter 1621266228009394179 485
Retweet on Twitter Corruption Ledger Retweeted
Corruption Ledger @5amresearch ·
31 Jan

The most uplifting news in ages: #France brings new meaning to "Power to the People" - unionized energy workers give free power to low income people, cut off electricity for the powerful. #vivelafrance https://www.france24.com/en/europe/20230127-robin-hood-energy-strikers-give-free-power-to-french-schools-hospitals-low-income-homes

Reply on Twitter 1620285867926622208 Retweet on Twitter 1620285867926622208 3 Like on Twitter 1620285867926622208
Corruption Ledger @5amresearch ·
31 Jan

The most uplifting news in ages: #France brings new meaning to "Power to the People" - unionized energy workers give free power to low income people, cut off electricity for the powerful. #vivelafrance https://www.france24.com/en/europe/20230127-robin-hood-energy-strikers-give-free-power-to-french-schools-hospitals-low-income-homes

Reply on Twitter 1620285867926622208 Retweet on Twitter 1620285867926622208 3 Like on Twitter 1620285867926622208
Load More
  • UK government webinar on Russia trade sanctions & commercial services
    EU Sanctions - UK 1 day ago
  • US designates international sanctions evasion network
    EU Sanctions - UK 1 day ago
  • Security Council ISIL (Da'esh) and Al-Qaida Sanctions Committee Amends 29 Entries to Its Sancti...
    UN.org 2 days ago
  • Canada Amends Myanmar Sanctions: 6 Individuals Targeted and New Prohibition on Aviation Fuel
    Baker Mckenzie - Canada 2 days ago
  • Oil Price Cap Update: Refined Products
    OFSI 2 days ago
  • United States: Government Designates Russian Proxy Wagner Group as a Significant Transnational Crimi...
    Sanctions – Global Compliance News 2 days ago
  • Ukraine introduces a new set of sanctions against Russian and Belarusian companies
    Baker McKenzie UK 2 days ago
  • United States: OFAC issues amended Russia-related General Licenses and related FAQs
    Sanctions – Global Compliance News 2 days ago
  • Oil broker arrested over supply of 18,000 tonnes of diesel to North Korea
    EU Sanctions - UK 3 days ago
  • Switzerland implements the 9th package of EU sanctions against Russia
    Baker Mckenzie US 3 days ago
  • Statement by Minister Ng on U.S. request for dispute settlement panel on tariff rate quotas for Cana...
    Canada.ca 4 days ago
  • UK, US & Canada impose sanctions to mark anniversary of Myanmar coup
    EU Sanctions - UK 4 days ago
  • US Government Designates Russian Proxy Wagner Group as a Significant Transnational Criminal Organiza...
    Baker McKenzie UK 5 days ago
  • UK Court judgment on the impact of sanctions on litigation / judgments involving designated persons;...
    EU Sanctions - UK 5 days ago
  • Japan introduces further sanctions against Russia
    Baker Mckenzie US 5 days ago
  • AP: Ukraine Corruption Scandal; U.S. likely to OK sending Abrams tanks
    JapanToday 6 days ago
  • Classified documents probe pushes Biden think tank into spotlight
    JapanToday 6 days ago
  • British PM Sunak fires party chairman over tax bill allegations
    JapanToday 6 days ago
  • North Korea calls U.S. pledge of tanks to Ukraine 'unethical crime'
    JapanToday 7 days ago
  • OFAC Issues Amended Russia-Related General Licenses and Related FAQs
    Baker McKenzie UK 7 days ago
1
2
3
…
Next

–

  • Register
  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org
  • CDC bought data harvested from millions of phones to monitor trends not related to COVID-19 health corruption
  • Young Ukrainian escapes war with USB stick holding 40% of life savings in #Crypto cryptocurrency
  • Sanofi, Lilly, Novo and trio of PBMs face racketeering charges over insulin drug pricing corruption
  • China halts short-term visas in South Korea in first response to COVID curbs corruption
  • Battle Updates: Ukraine war
  • Watch: Greenpeace Warns of Nuclear Crises in Ukraine from Chernobyl to Russian Control of Zaporizhzhia political unrest

Copyright © 2022 Corruption Ledger. This web site contains no ads.