My favorite Gunvor owes my Rosneft 20 billion rubles. Of course it will pay up. But the scheme itself is impressive: the guys get oil with a 30-day payment delay. I’d trade like that too.
The Trader Won’t Let Them DownOil trader Gunvor, co-owned by Vladimir Putin’s friend Gennady Timchenko, has been found to owe Rosneft 19.4 billion rubles. That is the amount the trader owed the state company as of March 31, according to Rosneft’s report for the first quarter of 2008. There is no overdue debt; if any appears, penalties will be charged to the debtor, Rosneft writes. More