Putin’s Oil Ally Takes Fight for Frozen Funds to Top Swiss Court
- Timchenko says freezing of his bank accounts is illegal
- Billionaire sold stake in Swiss oil trader Gunvor in 2014
Gennady Timchenko
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Gennady Timchenko, a billionaire ally of Vladimir Putin, asked Switzerland’s top court to overturn a U.S. Treasury Department freeze on a pair of his bank accounts in the Alpine nation.
A Geneva court on Sept. 1 rejected his appeal of a decision by local prosecutors to refuse to examine whether the freeze on the accounts was illegal. With no other recourse, Timchenko’s lawyer has taken the case to the Swiss Federal Court.