Sechin's role in Magomedov arrest under scrutiny
The arrest of another oligarch with links to the energy industry has raised questions over the motive
The hand of Russia's oil czar Igor Sechin may have been instrumental in the arrest of billionaire Ziyavudin Magomedov on embezzlement charges. Magomedov, the owner of the Summa Group conglomerate, was detained on March 31 on charges of embezzlement related to the construction of a football stadium in Kaliningrad to be used in the World Cup this summer. Analysts believe his arrest pertains to a long-running row over control of Novorossiysk Commercial Sea Port (NCSP). Summa and state-owned oil pipeline monopoly Transneft hold 50.1% in NCPS through a joint venture, while Transneft owns an additional 10.5% directly. NCSP controls the Black Sea port of Novorossiysk, as well as the Baltic port of
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
