THE ownership of the heavy fuel oil fouling the beaches of northwest Spain can be traced back to Mikhail Fridman, one of the so-called Russian “oligarchs” and the man at the helm of Alfa Group, a private conglomerate with interests in oil exploration, commodities trading, banking, telecommunications, food, vodka and supermarkets.
One of Alfa Group’s many tentacles is Crown Resources, an oil-trading business set up by Alfa in Gibraltar in 1996. It was Crown that chartered the Prestige, a vessel that had previously been used as a floating storage tank, to hold deliveries of fuel from inland Russian refineries.
Read more Russian billionaire behind worldwide trade in oil
Source:Carl Mortished, International Business Editor
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