Swiss-based energy commodities trading company, the world fourth-largest independent oil trader. Co-founded in 1997 by Gennady Timchenko and Torbjorn Tornqvist, headquartered in Geneva. Built its fortune trading Russian crude oil, leveraging Timchenko close relationship with Vladimir Putin. In 2019, convicted by Swiss prosecutors and fined 95M for bribery of officials in Republic of Congo and Ivory Coast. In Congo, GUNVOR paid 30M in bribes to Sassou-Nguesso regime insiders to secure 2.2B in oil contracts (2010-2012). In Ivory Coast, used Olivier Bazin and Semlex as intermediaries to broker oil-for-arms deals for the sanctioned Gbagbo regime during the 2011 civil war, violating UN arms embargo. Africa operations moved from Geneva to Dubai after the scandal.
