Former energy minister Greg Barker receives £3m bonus for Russian sanctions deal
Former UK energy minister Greg Barker pocketed £3m-£4m for his role in the ending of US sanctions on Russian metals giant En+, according to insiders.
Read more: Lord Barker takes time out for Russia’s En+
Barker, a Conservative party politician and member of the House of Lords, helped convince US President Donald Trump to lift sanctions on the holding company owned by Oleg Deripaska in January.
Bloomberg yesterday reported Barker had received a multimillion pound bonus to his En+ pay for his efforts in schmoozing the Trump administration towards a deal that saw Deripaska – who had been sanctioned due to his links to the Russian government – step away from the company.
Barker told the Financial Times Commodities Global Summit in March that he would be getting a bonus, which he called “relatively, relatively modest”.
En+ is the holding company for Rusal, the world’s biggest aluminium producer outside China.