Russian politicians dismiss Paradise Papers leaks

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MOSCOW: Russian politicians on Monday downplayed leaks in the Paradise Papers concerning Russian officials and state companies, insisting the deals were legal and not politically motivated.
The head of the foreign affairs committee of the Russian senate, Konstantin Kosachev, charged that the leaks were 鈥渟tirring emotions and muddled wording,鈥� speaking to RIA Novosti state news agency early Monday.
The papers leaked from offshore law firm Appleby reveal that VTB Bank, Russia鈥檚 second largest bank and now under US sanctions, funded an investment in Twitter.
In addition, a branch of Gazprom energy giant through an offshore company financed an investment vehicle that owned Facebook shares.
Both these deals are linked to Russian billionaire investor Yuri Milner.
Kosachev said the way this was presented in the papers was a 鈥渇antastic, phantasmagorical text.鈥�
鈥淲hen it is boiled down, what is described here is standard and legal commercial activity,鈥� Kosachev insisted.
He added that 鈥渢hrough stirring up emotions and murky wording鈥� the deals are 鈥減resented as practically a plot against the foundations of Western democracy.鈥�
The findings emerged as part of the Paradise Papers released by the US-based International Consortium of Investigative Journalists (ICIJ), which was behind the Panama Papers made public last year.

Speaking about the VTB and Gazprom deals, the deputy head of the international affairs commmittee of Russia鈥檚 lower house, Alexei Chepa, told RIA Novosti that 鈥淭his has nothing to do with politics 鈥� this is business, commerce.鈥�
Russian media has not yet obtained any comment from Sibur petrochemicals giant, which is partially owned by Putin鈥檚 reported son-in-law Kirill Shamalov, over the papers鈥� findings that US Commerce Secretary Wilbur Ross has ties to a shipping firm which has a contract with Sibur.
Shamalov sold most of his stake in Sibur this year and now owns 3.9 percent, Vedomosti business daily reported. Russian Forbes magazine estimated his wealth at $1.3 billion this year.
Russia鈥檚 opposition newspaper Novaya Gazeta was the only Russian media to take part in analizing the leaked materials. It reported that it looked at 13.4 million documents over the course of a year.
The newspaper said the leaks did not principally concern Russians, saying this was possibly because Appleby, 鈥渁sked questions about the origins of funds more often鈥� than the company that leaked the Panama Papers, Mossack Fonseca.
鈥淩ussia is not even in the top 10 countries whose citizens used Appleby鈥檚 services,鈥� it wrote.
Novaya Gazeta found the names of two current lawmakers in the papers: Alexei Yezubov of the ruling party and Vladimir Blotsky of the Communist Party. Yezubov told RIA Novosti he had 鈥渉eard nothing鈥� of the leaks.
The former wife of powerful Rosneft chief and Putin ally Igor Sechin, Marina Sechina, also figures. She registered a property investment company in 2012, soon after their divorce.
Sechin鈥檚 declarations previously showed she had no earnings for several years.
Novaya Gazeta said Appleby was aware of Sechina鈥檚 significant political ties.