Gunvor Denies Police Raid

A spokesman of billionaire Gennady Timchenko denied media reports Tuesday that police had raided Moscow offices associated with Gunvor, the independent international oil trader co-owned by Timchenko.

Several news agencies reported that police were searching a Gunvor office on Rakhmanovsky Pereulok.

Spokesman Anton Kurevin said: "There have been no searches or any other similar procedures, neither at the office of the Ural Invest managing company nor at the offices of subsidiary companies. Moreover, Gunvor company does not have an office on Rakhmanovsky Pereulok," Prime agency reported.

Ural Invest manages Timchenko's assets through the Volga Resources company.

Gunvor, which is registered in Cyprus and has main offices in Geneva and Singapore, handled about 30 percent of Russia's exported oil last year.

(MT)

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