Sanctioned Russian oligarchs take stake in largest UK oil firm

cross-posted from: feddit.org/post/2595305

Two sanctioned Russian oligarchs have become part-owners of the UK’s largest oil producer after it completed a deal to buy a German firm.

LetterOne, the investment company part-owned by oligarchs Mikhail Fridman and Petr Aven, now owns nearly 15% of Harbour Energy.

LetterOne itself is not sanctioned, and the two Russians have no contact with the firm and don’t receive any share of its profits.

Harbour Energy is the largest oil and gas producer in UK waters. It has bought most of the oil and gas production assets of a Germany-based firm, Wintershall DEA, from the chemicals giant BASF.