Stop the Untouchables. Justice for Sergei Magnitsky.

FORMER RUSSIAN FINANCE MINISTER ‘EXPLAINS’ WHY $1 BILLION WENT MISSING

Impunity Watch

By Alexandra Halsey-Storch
Impunity Watch Reporter, Europe

MOSCOW, Russia–On Wednesday April 11, 2012 the Former Russian Finance Minister, Alexei Kudrin, attempted to set forth an explanation as to why $1 billion was stolen from the Russian budget while under his supervision between 2006 and 2010.

Former Finance Minister, Alexei Kudrin (Photo Curtesy of The Telegraph)

Kudrin claimed that by no fault of his own was this money stolen. Strangely, and perhaps even unbelievably, “Employees of the Treasury cannot challenge the appropriateness of [the illegal approvals of tax refunds for millions of dollars]. Neither the leadership of the Treasury, nor, especially, the leadership of the Ministry of Finance interfere in this process.” In other words, it simply was not part of Kudrin’s duty as a Finance Minister to protect the funds.

Kudrin went on to state that, “neither the Ministry of Finance, nor I, at that time as Minister of Finance and Deputy Prime Minister, had the authority [to investigate the thefts].”

Despite not being able to investigate the crime, Kudrin was aware of the illegal actions taking place. In August 2008, and again on October 13, 2009, Hermitage Capital—an investment fund that has invested about $4 billion in Russia— contacted Kudrin and provided detailed evidence of the tax official’s involvement in the thefts.