Vanetsyan's Brother Buys New Factory in Russia, Becomes Major Producer in the Sector

According to the "Hraparak" newspaper, Russian media reported yesterday about yet another multimillion-dollar deal. This time, the subject was the Bunge agro-industrial company, known for its Oleyna brand, which is popular in Russia and available in any store.

Such transactions have become numerous lately as Western companies are leaving the Russian market due to sanctions, while Russian companies, with the support of the Russian authorities, acquire their assets. This particular deal would not have been interesting if it weren’t for the name of the new buyer mentioned in the report.

It turns out that Bunge's oil processing business has been sold to Exoil Group, whose controlling shareholder is Karen Vanetsyan, the brother of Arthur Vanetsyan, the chairman of the "Motherland" party.

The executive director of the business, Greg Heckman, has expressed confidence that under the leadership of Vanetsyan, who has twenty-five years of experience in the agribusiness sector, the team will continue to meet customer needs.

This marks Karen Vanetsyan’s second factory; he previously established another from scratch in 2014, and has been active in the industry since 1997. With this factory acquisition, Karen Vanetsyan's "ExOil Group" LLC has become the largest producer of oil in the Russian market. The factory is located in Voronezh.

While exploring the "ExOil Group" website, we noticed an interesting section titled "Confidence Lines," which offers employees the opportunity to contact the security service of "MC ExOil Group LLC" to report theft and corruption manifestations in the group’s facilities in order to prevent and uncover them. This section mentions that the communication channels are limited exclusively to the security service division of "MC ExOil Group LLC," whose direct supervisor is the CEO, Karen Vanetsyan.

Perhaps one of the keys to the success of the former head of the National Security Service's brother is precisely this section, where employees can provide information if they do not intend to use it for defamation, intentional dissemination of falsehoods, discrediting information on honor and dignity, achieving personal goals, obtaining benefits, or clearing accounts.

Indeed, Karen Vanetsyan has found a clever way to apply methods characteristic of National Security Service operations in business.

For more details, see today’s issue of the newspaper.