Australia’s natural resources must not enrich Russian oligarchs
IMMEDIATE RELEASE - Contact Clancy Moore, 0410 508 051
Australia’s oil, gas and mineral wealth should benefit communities not Russian oligarchs and supporters of Vladimir Putin’s, says anti-corruption NGO, Publish What You Pay.
As international governments including Australia take strong action to sanction Putin’s allies, oligarchs and klepotcrats, the federal government and companies must act to ensure no revenues, public subsidies or dividends flow to supporters of the Russian regime.
This includes the following examples:
Queensland Alumina Limited, one of Australia’s largest alumina refineries which is 20% owned by Russian company, Rusal. In 2018, the US sanctioned Rusal and its founder Oleg Deripaska, who was once Russia’s richest man and was seen as one of Putin’s closest allies. ASX listed Rio Tinto (80%) is a majority owner in the project.
Falcon Oil and Gas Ltd has 3 gas exploration permits in the Beetaloo basin, Northern Territory, which includes a joint venture with ASX listed, Origin Energy (77.5%). Falcon’s parent company listed on the TSE is 16% owned by a company controlled by Russian Oligarch and ally of Putin, Viktor Vekselberg who was sanctioned by the US in 2018 in response to the invasion of Crimea.
Australian director of Publish What You Pay, Clancy Moore made the following statements:
“Australia’s natural resource wealth should benefit our communities, workers and government budgets not line the pockets of Russian oligarchs and friends of Putin.”
“In relation to Falcon Oil and Gas, Minister Pitt should rule out any public money going to the company under the $50 million Beetaloo grant program.”
“Australia’s national interest is served by ensuring the highest standards of integrity in how our natural resources are governed sector. Our federal government must act urgently to lift standards of transparency. This includes a public list of who ultimately owns and benefits from mining, gas and oil projects.”
Notes:
Publish What You Pay is a global coalition with organizational members in Ukraine since 2014.
PWYP Australia and Uniting Church of Australia (Vic. & Tas.) 2020 report and media coverage uncovered the role of Viktor Vekselberg in Falcon Oil and Gas.
The Australian government is yet to sanction Viktor Vekselberg or Oleg Deripaska.