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A senior official at Russian natural gas producer Novatek, arrested last week in the US on tax charges, says he is innocent and will “vigorously” fight the case.
“On Thursday I was charged with unfounded tax charges, which I have already paid through a voluntary program, and pleaded not guilty. I will vigorously fight these allegations and continue to discuss guest topics as usual,” said Mark Gyetvay, vice chairman of Novatek -Management Planke, said in a tweet on 09/26
The US Department of Justice announced on September 23 that Gyetvay had been arrested for tax charges related to US $ 93 million hidden in offshore accounts. If convicted, he faces up to 20 years imprisonment.
Gyetvay, who holds both U.S. and Russian passports, was released by a Florida judge on a $ 80 million bond, according to court records.
As a US citizen, Gyetvay pays US taxes on worldwide income, even if he spends most of the year in Russia.
The 64-year-old has been the face of Novatek for the western investment community for more than a decade, holding the quarterly conference calls with equity and bond investors and speaking at industry conferences.
Novatek is Russia’s largest independent natural gas producer and analysts say its phenomenal rise from a small player in the early 2000s to a $ 79 billion company today – not far behind BP’s $ 89 billion market value – into one largely due to the company’s links with the Kremlin.
Gennady Timchenko, a major Novatek shareholder, is considered a close associate of Russian President Vladimir Putin. Their friendship dates back to the early 1990s.
Gyetvay criticizes the US energy policy towards Russia.
The United States has tried over the years to reduce Europe’s reliance on Russian energy, including blocking the launch of Nord Stream 2, a pipeline designed to transport natural gas directly across the Baltic Sea to Germany.
The Nord Stream 2 pipeline will divert gas currently flowing through Ukraine, missing up to $ 2 billion in revenue for Kiev. The United States has labeled it a political project aimed at harming Russia’s smaller neighbors.
The project was completed earlier this month and is now awaiting certification by German and European authorities, a process that can take several months.
Meanwhile, European gas prices have soared to record highs amid a supply crisis. Washington is now accusing Russia of withholding additional supplies of natural gas to Europe via Ukraine in order to put the authorities under pressure to certify Nord Stream 2.
“Another laugh!” Gyetvay said in a tweet two days before his arrest after a US official expressed concern that Russia is not sending enough gas to Europe. “Who tried to impose ruthless sanctions on funding? [U.S. liquefied natural gas to Europe?] Reality – we need ALL gas. Period.”
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