|The Russian bank VEB, which has direct ties to Russian President Vladimir Putin, provided hundreds of millions of dollars in critical financing to a President Trump’s one-time partner on a Toronto hotel project, The Wall Street Journal reported Wednesday. At the time of the deal, Putin sat on the supervisory board of the state-run bank, which the Journal says the Russian government uses to finance politically important projects. Trump’s partner, Russian-Canadian developer Alexander Shnaider, financed the hotel after selling his company’s share in a Ukrainian steelmaker for $850 million. The unknown buyer, backed by VEB, was reportedly acting on behalf of the Russian government. The payment came through at a time when the project was “financially troubled,” the Journal said.
Source: The Wall Street Journal