Foreign Firm Funding U.S. Green Groups Tied to State-Owned Russian Oil Company

Ever wonder who’s behind the drive to sabotage oil independence in America under the guise of radical environmentalism? Look no further than Russia — and they’ve been doing it for decades. It didn’t just start with fracking.

Read the full article only if you can stomach seeing how strong of an undetected stranglehold Russia has on America.

 

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A shadowy Bermudan company that has funneled tens of millions of dollars to anti-fracking environmentalist groups in the United States is run by executives with deep ties to Russian oil interests and offshore money laundering schemes involving members of President Vladimir Putin’s inner circle.One of those executives, Nicholas Hoskins, is a director at a hedge fund management firm that has invested heavily in Russian oil and gas. He is also senior counsel at the Bermudan law firm Wakefield Quin and the vice president of a London-based investment firm whose president until recently chaired the board of the state-owned Russian oil company Rosneft.

In addition to those roles, Hoskins is a director at a company called Klein Ltd. No one knows where that firm’s money comes from. Its only publicly documented activities have been transfers of $23 million to U.S. environmentalist groups that push policies that would hamstring surging American oil and gas production, which has hurt Russia’s energy-reliant economy.

With oil prices plunging as a result of a fracking-induced oil glut in the United States, experts say the links between Russian oil interests, secretive foreign political donors, and high-profile American environmentalists suggest Russia may be backing anti-fracking efforts in the United States.

The interest of Russian oil companies and American environmentalist financiers intersect at a Bermuda-based law firm called Wakefield Quin. The firm acts as a corporate registered agent, providing office space for clients, and, for some, “managing the day to day affairs,” according to its website.

As many as 20 companies and investment funds with ties to the Russian government are Wakefield Quin clients. Many list the firm’s address on official documentation.

Klein Ltd. also shares that address. Documents filed with Bermuda’s registrar of companies list just two individuals associated with the company: Hoskins, Wakefield Quin senior counsel and managing director, and Marlies Smith, a corporate administrator at the firm.

The only publicly available documentation of any business conducted by Klein Ltd. were two Internal Revenue Service filings by the California-based Sea Change Foundation, which showed that Klein had contributed $23 million to the group in 2010 and 2011. Klein Ltd. was responsible for more than 40 percent of contributions to Sea Change during those years.

The foundation passed those millions along to some of the nation’s most prominent and politically active environmentalist groups. The Sierra Club, the Natural Resource Defense Council, Food and Water Watch, the League of Conservation Voters, and the Center for American Progress were among the recipients of Sea Change’s $100 million in grants in 2010 and 2011.

Neither Wakefield Quin nor Sea Change responded to multiple requests for more information about their relationships with Klein Ltd.

“None of this foreign corporation’s funding is disclosed in any way,” the Senate Environment and Public Works Committee wrote of the company in a report last year. “This is clearly a deceitful way to hide the source of millions of dollars that are active in our system, attempting to effect political change.”

The Sierra Club, which received nearly $8.5 million from Sea Change in 2010 and 2011, launched its “Beyond Natural Gas” campaign the following year. The effort has become one of the largest and best-funded environmentalist campaigns combating fracking and the extraction of natural gas in general.

Sea Change’s “skeletal staff quietly shovels tens of millions of dollars out the door annually to combat climate change. And that’s pretty much all it does,” noted Inside Philanthropy, which awarded the foundation its “sharpest laser focus in grant making” award last year.

Full article: Foreign Firm Funding U.S. Green Groups Tied to State-Owned Russian Oil Company (Washington Free Beacon)

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