Tony Blair linked to Libyan deal with Russian oligarch
Emails reveal how bank employing former PM tried to oil the wheels of a deal between Russian’s aluminium firm and the Libyan regime
Image 1 of 3
Rusal, the world’s biggest aluminium producing company, was founded by Oleg Deripaska, the Russian oligarch
Image 1 of 3By the summer of 2009, Mr Deripaska and Saif Gaddafi, pictured, who had influence with the LIA, were said to be acquaintances Photo: REUTERS
Robert Mendick, Chief Reporter
9:39PM BST 24 Sep 2011
As he sat back on the private jet, reclining in his comfortable leather armchair, Tony Blair must have felt grateful to his benefactor and friend Colonel Muammar Gaddafi for such largesse. It made Mr Blair’s trip from Libya back to London altogether more civilised than the regular British Airways flight he would have otherwise had to take.
The Bombardier Challenger 300 jet, hired by the tyrant’s regime at a cost of £70,000, was used on at least two occasions by Mr Blair and his entourage to fly to Tripoli. Robert Mugabe, coincidentally, was offered the same jet by Gaddafi on one of his visits to Libya.
Inquiries by The Sunday Telegraph show that Mr Blair visited “The Leader” – as Mr Blair’s staff deferentially described Gaddafi in official correspondence – on six occasions between June 2007, when he quit Downing Street, and June last year.
But what Mr Blair was doing there on such a frequent basis remains something of a mystery.
His numerous websites fail to mention the trips at all. His spokesman declined to answer questions about the frequency of the visits and what was precisely discussed.
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So what was Mr Blair up to and why all the secrecy? Email correspondence obtained by the anti-corruption campaign group Global Witness, and seen by this newspaper, shows that Mr Blair was linked to a multi-billion-dollar deal being set up in Libya by JP Morgan, the US investment bank.
Mr Blair is paid a reported £2 million a year as a senior adviser to the bank. Given his extensive contacts established during 10 years in Downing Street, he may be cheap at the price.
JP Morgan was trying to broker a deal between the Libyan Investment Authority (LIA), a £50 billion sovereign wealth fund, and Rusal, the world’s biggest aluminium producing company, founded by Oleg Deripaska, the Russian oligarch and friend of Lord Mandelson. There is no suggestion that Lord Mandelson, who at the time was business secretary, was in any way involved in the proposed deal.
Mr Deripaska is not only well-heeled – his fortune was estimated at its peak at £17 billion – but terribly well connected. His acquaintances have included the financier Nat Rothschild and, for a period at least, Saif Gaddafi, the dictator’s most influential son.
George Osborne was, along with Lord Mandelson, a guest on Mr Deripaska’s yacht in the summer of 2008 in Corfu. The lunch on the yacht led to a political storm over claims – vehemently denied – that Mr Osborne had attempted to solicit a £50,000 donation for the Conservative party.
Lord Mandelson, who first met Mr Deripaska in 2004, was also caught up in the fallout from the affair. At the time he was an EU trade commissioner who had authorised cuts in European aluminium import duties. Rusal was one of the main beneficiaries, although Lord Mandelson strongly denied any conflict of interest and said the change in tariffs had not been initiated by him.
At the time the JP Morgan emails were written, in December 2008 and March 2009, Rusal was in financial difficulties, mired in its attempts to restructure about £4.5 billion of debt owed to foreign banks.
If JP Morgan could put a deal together between the LIA and Rusal, then its fees would be huge. Documents seen by The Sunday Telegraph show Rusal was looking for a loan of around £3 billion in the form of a convertible bond, which would be converted into an equity stake in Rusal at a later date.
One source said the LIA was looking at providing a loan of about £1.3 billion. Had the convertible bond deal gone ahead – it later floundered for reasons JP Morgan refuses to go into – the bank could have netted fees of between £25 million and £50 million.
The first of the emails obtained by Global Witness was sent on Dec 28, 2008, from JP Morgan to Mustafa Zarti, the then vice-chairman of the LIA.
Mr Zarti, 41, was one of Libya’s most powerful money men and — this is no coincidence — a close friend of Saif Gaddafi, whom he met when the pair were studying in Vienna.
Written by Lord Renwick, JP Morgan’s vice-chairman and a former British ambassador to the US, the email states: “Dear Mr Zarti, On behalf of JP Morgan, we would like to invite you to London in the week beginning 12 January to finalise the terms of the mandate concerning Rusal before Mr Blair’s visit to Tripoli which is scheduled to take place on around 22 January.
“I will look forward very much to meeting you and to introducing you to the members of the JP Morgan team and we would of course like to host a dinner for you while you are here.
“Could you very kindly let me know what date might be convenient for you to visit London? With best wishes Robin Renwick.”
Lord Renwick, incidentally, was made a Labour peer by Mr Blair in 1997, although he now sits in the House of Lords as a cross-bencher.
Mr Blair subsequently visited Col Gaddafi on Jan 22. No details of the discussions between the two men appear in public records.
The meeting merited a mention by the Qatar News Agency. Its report declared that the pair had discussed a “host of international issues” but gave no further details. Last week, JP Morgan said Mr Blair had no knowledge of the deal that the bank was trying to set up between the LIA and Rusal.
Two months later, JP Morgan was still involved with the LIA and Rusal.
In a second email obtained by Global Witness, which was sent on March 11, 2009, to Mr Zarti, Lord Renwick enclosed details of the convertible bond deal that Rusal was hoping to put together.
Lord Renwick wrote that a “number of clarifications are still needed and they [Rusal] are still finalising their proposal. When they have done so, we will pass this on to you with our analysis of it, so that you can then decided [sic] whether you would wish to pursue the matter.”
Lord Renwick concluded: “Meanwhile, we very much appreciate our co-operation with you on other issues.”
It is not clear what those other issues were or whether Mr Blair had any involvement in them.
A month later, on April 7, Mr Blair’s private office wrote to the British embassy outlining another planned visit to Tripoli. In the email, Mr Blair’s office noted that he hoped to meet not only Gaddafi but senior figures in the LIA including Mr Zarti. Mr Blair met Gaddafi on April 30; it is not known if the meeting with Mr Zarti went ahead.
In September 2009, nine months after Lord Renwick’s first known email to Mr Zarti, it was reported that talks between LIA and Rusal had broken down. “It [Rusal] had been in active discussions with the Libyans about selling a 10 per cent stake in the Russian group,” said one report at the time.
A JP Morgan spokesman said: “JP Morgan declined to participate on such a transaction and thus Mr Blair was never involved, and it was never discussed with him.”
Although JP Morgan had dropped out of the deal, all was not lost for Rusal and the LIA. Perhaps JP Morgan’s services were no longer needed.
By the summer of 2009, Mr Deripaska and Saif Gaddafi, who had influence with the LIA, were said to be acquaintances. Mr Gaddafi hosted a 37th birthday party that year to which Mr Deripaska and Mr Rothschild were reportedly invited. Mr Deripaska, who has a £20 million home in Belgravia in London and speaks fluent English, instead floated Rusal on the Hong Kong stock market in January 2010 and the LIA bought $300 million worth of shares, the largest single purchase in the flotation. The flotation was a success and, with Rusal’s debt restructured, Mr Deripaska’s business was secure, although the LIA would lose $50 million in six months as Rusal’s share price dropped.
Mr Blair’s own business dealings remain opaque. He insists that he was not involved in, or even told about, the JP Morgan negotiations in Libya; in which case, it seems curious that the investment bank was dropping his name without his knowledge.
But then again, JP Morgan could be excused for cashing in on their best connected and most bankable asset.
HE’S ON THE LIST!
2)History of Jews in Russia
Thing is that today they are making highest profits ever, and have the leading role in everything. Of course, you won’t be suprised about their role in USA (its pretty obvious since USA donate more money to the State of Israel then to whole African Continent), but on the other side, many people do not know how how well positioned Jews in Russia are today, after the years of stalinist antisemitic campaigns, and campaigns of his successors. Many people do not realise that famous “Russian Oligarchs” like Abramovich, Deripaska, Berezovsky, Melnichenko are actually Jews. Here is some old list of Russian-Jewish Oligarchs i found:
name – fortune in billions – company
1 Mikhail Khodorkovsky 15.2 Yukos
2 Roman Abramovich 12.5 Sibneft
3 Viktor Vekselberg 5.9 TNK-BP, Sual
4 Mikhail Prokhorov 5.4 Norilsk Nickel
5 Vladimir Potanin 5.4 Norilsk Nickel
6 Mikhail Fridman 5.2 Alfa Group
7 Vladimir Lisin 4.8 Novolipetsk Steel
8 Oleg Deripaska 4.5 Rusal, Ruspromavto
9 Alexei Mordashov 4.5 Severstal
10 Vagit Alekperov 3.9 Lukoil
11 German Khan 2.9 Alfa Group
12 Alexander Abramov 2.4 Evrazholding
13 Vladimir Bogdanov 2.2 Surgutneftegaz
14 Vladimir Yevtushenkov 2.1 Sistema
15 Iskander Makhmudov 2.1 Uralsky GMK
16 Pyotr Aven 2.1 Alfa Group
17 Nikolai Tsvetkov 2.0 Nikoil
18 Leonid Nevzlin 2.0 Yukos
19 Alexei Kuzmitchev 1.9 Alfa Group
20 Mikhail Brudno 1.8 Yukos
21 Vladimir Dubov 1.8 Yukos
22 Platon Lebedev 1.8 Yukos
23 Vasily Shakhnovsky 1.8 Yukos
24 Leonid Fedun 1.7 Lukoil
25 Alexander Lebedev 1.4 National Reserve Corp.
26 Viktor Rashnikov 1.3 Magnitogorsk Steel
27 David Davidovich 1.3 Sibneft
28 Rem Vyakhirev 1.3 Gazprom
29 Vyacheslav Sheremet 1.2 Gazprom
30 Andrei Melnichenko 1.2 MDM Bank
31 Sergei Popov 1.2 MDM Bank
32 Igor Zyuzin 1.1 Mechel Steel
33 Andrei Gorodilov 1.1 Sibneft
34 Valery Oif 1.1 Sibneft
35 Yelena Baturina 1.1 Inteko
36 Alisher Usmanov 1.0 Gazprominvestholding
and there are some even more like Boris Berezovsky, Arcadi Gaydamak or Viatcheslav Moshe Kantor; I know, list needs some editing since numbers could be old but I pasted it only so you can make an impression of what I’m talking about here. You should take a look at this article which shows some extraordinary difference in relation of Vladimir Putin (who is, by the way, not a Jew) with Jews in Russia:
Putin’s Jewish Anomaly
ZIONIST BLAIR WORKS FOR ULTRA RICH JEW- WHATEVER NEXT?
11 minutes ago
Blair gave the green light to the London bombings of 2005 and I await Camoron to do the same to another false flag attack here sometime soon. Report Recommend
33 minutes agoBlair is sickening, revolting, disgusting. I used to think I would hate meeting him, but now I actually think it would be worth it to do so, because it would inevitably induce me to vomit involuntarily all over his ill-gotten designer suit. Report Recommend
16 minutes agoCamoron who released the genie of Arab hatred of blacks in Libya on the orders of the Rothschilds is far and away worse than Blair. Report Recommend
Today 10:35 AMRecommended by
Blair is nothing more than a f**king chancer and an out and out crook. When the f**k are the police going to waken up to this and investigate what the hell he has done…..or maybe he’s bought them too. As we’ve seen recently they are for sale.
From Keir Hardie to this bastard….what progress we have made. Report Recommend
Today 10:24 AMRecommended by
2 peopleBLIAR is a euphemism for SCUM Report Recommend
Today 09:43 AMRecommended by
2 peopleHave no fear, iron man Vladimir is back, I bet no one but no one other than Vladimir will get this tony by the……….. tony you better disappear before Vladimir gets you like OBL dead or alive.
Hey tony you do have a problem, don’t you think? Never mind quartet or middle east, Vladimir is back he will take care of it, so don’t worry, now tony it is upto you.
By the way tony on your way out can you also take dave baby with you? You two make a nice pair, as Vladimir don’t like him either, I have a feeling he is too noisy. Report Recommend
Today 09:32 AMRecommended by
10 peopleLike a lot of people I was in London during the recent August lootings.
I believe that what we have here is a familial, moral, breakdown. There is talk of feral people just pocketing whatever they can. Taking from the taxpayer and from the private sector.
What we are dealing with is a new sense of immorality. Anything is theirs as long as they can take it home.
Parents, who for years have not done anything to help society but have just taken, looted and grinned as people pointed at them. Parents who have passed down the message to their progeny. For them human life is not sacrosanct.
I am afraid that is the filthy stinking gutter morality of the Blairs. Report Recommend
Today 09:20 AMRecommended by
13 peopleTony Blair gets more & more repulsive by the day Report Recommend
Today 08:54 AMRecommended by
9 peoplecould somebody just stick their head over blair’s back garden fence. Just look see if there are any beduion tents, goats tethered or anybody looking like gaddafi shivering in the rain. just a thought Report Recommend
Today 08:28 AMRecommended by
They are all at it…they serve one global master and that is Lord Jacob Rothschild…Blair the war criminal is now a Red Shield messenger boy. Governement it the veil that hides the real workings of power. Cameron, Obama, Osborne, Mandy…you name anyone in high office and they serve one master…the guy who owns the Central Banks!! Why do you think all the oligarchs initially came to london? Why has there been sooo many uninvestigated deaths, often in helicopters and connected to Chelsea FC??? Why did MI6 engaged in a nearly open war with the Russia on the streets of London? Why did MI6 have Litvinenko murdered and try and blame in on Putin`s Russian??
Camoron crawled on his recent visit. Russia won`t extradite their citizens, but “if” we send them evidence…lol… they can and will prosecute in Russia. Of course, MI6 did not come out that well in its scrap with Russia. Putin is about to return to power and Germany does not see its future with the demented English who are crying their eyes out because the political center of Europe is/has moved towards the East!!lol
The British establishment has shot itself in the foot and decided to sit on the Atlantic fence, totally blind to the fact that Amerika could be in a state of civil war within a year or two.
But don`t worry, the Roths will have some new scripted instalments coming soon.lol