The Financial Times reported that a former Russian energy minister is bidding for a bankrupt oil refinery in Essex, UK.

Mr Igor Yusufov who served as energy minister in Mr Vladimir Putin’s first term as Russian president has emerged as the sole bidder for the bankrupt Coryton oil refinery which supplies about 20% of the fuel for London and the southeast of England.

Mr Yusufov showed his interest in the refinery after the British government refused to provide state support to Coryton. Its parent company, Switzerland Petroplus filed for bankruptcy in January.

As per report, Mr Yusufov involvement could raise political questions in the UK because of his links with the Putin administration.

Mr Yusufov was also involved in a deal to help finance the purchase of a Norwegian-owned shipyard business, which eventually went bankrupt after some assets were allegedly transferred offshore. Yusufov has denied his involvement in the alleged asset stripping.

Source - The Financial Times

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