Russian tycoon reportedly selling stake in Uralkali
Between 2008 and 2012, Kogan held a series of senior positions in Russia’s Ministry for Regional Development, most recently as deputy minister and head of the agency in charge of state housing construction.
Such posts would command significant budgets and would as a rule only be entrusted to an individual who enjoys the personal confidence of Putin, who returned to the Kremlin in May of last year for a third presidential term.
Russia’s state banks are already heavily exposed to the struggling metals and mining sector.
Kerimov and three other shareholders sold more than $3 billion in bonds exchangeable into Uralkali shares to state-controlled bank VTB and Chinese sovereign wealth fund CIC.
Putin’s spokesman was not immediately available for comment. Kogan could not immediately be reached.