A Republican congressional candidate has financial ties to a number of Russian companies that have been sanctioned by the United States, the Guardian has learned.
Greg Gianforte, who is the GOP standard bearer in the upcoming special election in Montana, owns just under $250,000 in shares in two index funds that are invested in the Russian economy to match its overall performance.
According to a financial disclosure filed with the clerk of the House of Representatives, the Montana tech mogul owns almost $150,000 worth of shares in VanEck Vectors Russia ETF and $92,400 in the IShares MSCF Russia ETF fund.Both are indexed to the Russian equities market and have significant holdings in companies such as Gazprom and Rosneft that came under US sanctions in the aftermath of the Russian invasion of the Crimea.
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If elected, he said, the Montana Republican would put all his assets in a blind trust to avoid any conflict of interest as well as the fact that Gianforte had released 10 years of tax returns. He added in a statement: “Greg strongly believes his personal assets should never influence his decision-making in office.”
Regarding Gianforte’s views on Russia, Scanlon said: “The situation with Russia is the result of the last eight years of a failed policy by President Obama. The US and our allies need to work together on a long-term strategy to stand against Russian aggression in the region and to ensure the sovereignty of our allies is protected. In any foreign policy decision, we must always ensure that America’s interests are protected.”
But Tina Olechowski, a spokesman for Gianforte’s opponent, Democrat Rob Quist, used the investments to attack the Republican candidate. “Montana voters deserve to know why Greg Gianforte held on to his shady Russian investments after Putin invaded Ukraine, and again when Russia was accused of interfering in the presidential election,” said Olechowski. “Instead Gianforte kept his Russian ties secret during his failed run for governor last year.”
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