Vladimir Putin betrayed by 'close friend' in attempt to save himself

Russian President Vladimir Putin has been betrayed by his oldest ally, Russian billionaire Gennady Timchenko.

Timchenko, 70, appealed to the European Union’s second-highest court, the General Court, on Wednesday 3 May to lift the European sanctions that were imposed on him as a result of Russia’s war in Ukraine.

Timchenko has mounted a legal challenge to the EU sanctions. His lawyer, Stéphane Bonifassi, told the court that his client's connection to Putin does not mean that he is an ally in the war in Ukraine, as reported by Bloomberg.

Vladimir Putin's relationship with Gennady Timchenko

According to Newsweek and Forbes, Timchenko and the Russian President have been close friends since at least the 1990s, when he and the Rotenberg brothers started a judo club in Saint Petersburg called Yavara- Neva.

In 1991, as head of St. Petersburg's Committee for External Relations, Putin gave Timchenko an oil export licence, which Timchenko later used to co-found the oil trading firm, Gunvor, which quickly became one of the world’s largest oil traders.

In 2012, the oil magnate said to the Russian edition of Forbes that he and the head of the Kremlin had 'known each other for many years' and that they 'meet periodically'. Timchenko also described his 'great respect' for Putin. He said:

It seems to me that this is the leader that Russia needs today. Vladimir Vladimirovich is a very deep, balanced person. He knows how to listen. You can say whatever you want, but this is the man who really did a lot for Russia. Without him, we would not have had a country for a long time, and we would have disintegrated.

In addition, according to Forbes, Timchenko once said:

You have to pay for everything in your life. Even for your friendship with the president.

However, his lawyer Bonifassi claimed:

Even though it's true that Gennady Timchenko has known Mr. Putin for a long time, to call him a confidant is something that we contest, as this statement contains a sort of allegation.

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The sanctions Timchenko is challenging

Described by Forbes as 'one of Russia's most powerful people', Timchenko was put on the EU’s sanctions list in February 2022. He was banned from travelling and his assets were frozen. He was then sanctioned by US President Joe Biden’s administration in March 2022.

At the time, the EU pointed out his shareholding in Bank Rossiya, 'the personal bank of Senior Officials of the Russian Federation' as part of its justification for placing him on the sanctions list. However, his lawyer Bonifassi said:

We're told all the time, well it's a bank for senior Russian officials, but there's no proof given of that.

Sources used:

Newsweek: 'Putin's Oldest Ally Throws Him Under the Bus'

Forbes: 'Gennady Timchenko'

The International Consortium of Investigative Journalists: 'Gennady Timchenko'