TIMCHENKO HAD SOLD GUNVOR
REUTRES. Minutes after the U.S. government said Thursday it would punish the Russian co-owner of the world's No.4 private oil trading firm Gunvor SA with crippling sanctions, traders and bankers active in global oil markets began asking urgent questions.
Could the sanctions, which prohibit U.S. banks, individuals and companies from doing business with Russian billionaire Gennady Timchenko or firms he controls, possibly freeze the Geneva-based trading empire that Timchenko co-founded out of global commodity markets? Skittish counterparties and financiers scrambled for details, fearing they could be…
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