Watch Live

Tweet TWEET

Putin Cabinet Endorses Deputy Premier’s Son for Farm Bank Post

Russian Prime Minister Vladimir Putin’s administration approved the appointment of deputy premier Sergei Ivanov’s son to replace a first deputy prime minister at a state-run bank, a presidential adviser said.

Arkady Dvorkovich, the Kremlin’s top economic adviser, declined to say whether President Dmitry Medvedev supported the decision to name the younger Ivanov, also named Sergei, to head the supervisory board at Russian Agricultural Bank. He will replace First Deputy Prime Minister Viktor Zubkov, who is leaving after Medvedev ordered eight top officials to resign from the boards of state companies in industries they regulate.

The Kremlin opposes Ivanov’s appointment, Vedomosti reported earlier today, citing an unidentified presidential official.

The younger Ivanov, who used to work at OAO Gazprombank, the lending arm of Russia’s natural-gas export monopoly, earlier this year took over as head of insurance company Sogaz.

Medvedev’s spokeswoman, Natalya Timakova, declined to comment when contacted by Bloomberg News. Dmitry Peskov, Putin’s spokesman, also declined to comment. The bank’s press service declined to comment.

To contact the reporters on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net Henry Meyer in Moscow at hmeyer4@bloomberg.net

To contact the editor responsible for this story: Amanda Jordan at ajordan11@bloomberg.net Balazs Penz at bpenz@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.