Juan J. Monroe 
The Australasian Center for Corporate Responsibility (ACCR) is calling on Australian businesses to immediately review their relationships with companies linked to oligarchs aligned with Russian President Vladimir Putin.
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Origin Energy (ASX:ORG) (77.5%) is in a joint venture with Falcon Oil & Gas Ltd (22.5%) in the Beetaloo basin.
- Russian oligarch Viktor Vekselberg owns around 16% of Falcon Oil & Gas Ltd through its subsidiary Lamesa Group Holding SA.
- The representative of Vekselberg, Maxim Mayorets, sits on the board of Falcon Oil & Gas.
- The Beetaloo Basin has been prioritized in the federal government’s “gas recovery”, including federal grants for exploration.
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Queensland Alumina Ltd is a joint venture between Rio Tinto (ASX:RIO) (80%) and Rusal International PJSC (20%).
- Russian oligarch Oleg Deripaska owns approximately 44.5% of En+ Group International PJSC which, in turn, owns 56.9% of Rusal International PJSC.
- Russian oligarch Viktor Vekselberg owns approximately 32.3% of Rusal International PJSC through subsidiaries SUAL Partners Ltd (21.6%) and Zonoville Investments Ltd (10.7%).
Dan Gocher, director of climate and environment at the Australasian Center for Corporate Responsibility (ACCR) said:
“Following Russia’s invasion of Ukraine, Australian companies, including Origin Energy and Rio Tinto, must immediately review their relationships with companies owned or partly owned by oligarchs aligned with Russian President Vladimir Putin.
“The world has spoken, and the strategy now is to completely isolate Russia. The British oil giant BP, for example, has announced the sale of its stake in the Russian oil company Rosneft. Australian businesses must align with this strategy.
“Origin and Rio Tinto’s continued cooperation with oligarch-owned businesses legitimizes Putin’s regime.
“Furthermore, some of the profits from Australia’s alumina, oil and gas projects will end up in the hands of those responsible for supporting Putin’s murderous regime.
“The federal government must also ensure that the Origin-Falcon joint venture has not or will not receive government subsidies. Subsidies related to “gas recovery” are of particular concern. »
context
The five main shareholders of Falcon Oil & Gas Ltd as of February 25, 2022:
| Incumbent | Equivalent common shares held (actual) | Percentage of Common Shares Outstanding (%) | Market Value (AU$M) |
|---|---|---|---|
| Group Lamesa Holding SA | 157,083,634 | 16.00 | 28.2 |
| Nicolas Mathys | 40,000,000 | 4.07 | 7.2 |
| Lupus Alpha Asset Management GmbH | 4,882,500 | 0.50 | 0.9 |
| Philip O’Quigley CEO and Executive Director | 3,513,696 | 0.36 | 0.6 |
| Capital Bank – GRAWE Gruppe AG | 1,300,000 | 0.13 | 0.2 |
The five main shareholders of Rusal International PJSC as of February 25, 2022:
| Incumbent | Equivalent common shares held (actual) | Percentage of Common Shares Outstanding (%) | Market Value (AU$M) |
|---|---|---|---|
| En+ Group International Public Limited Company | 8,641,786,854 | 56.88 | 10,034.2 |
| SUAL Partners Ltd. | 3,283,210,512 | 21.61 | 3,812.2 |
| Zonoville Investments Ltd. | 1,625,652,591 | 10:70 am | 1,887.6 |
| Vanguard Group Inc. | 99 249 319 | 0.65 | 115.2 |
| BlackRock Inc. | 66 901 177 | 0.44 | 77.7 |
