Tag Archives: lack of transparency

To Know the Truth Even if it Harms You

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Distributed Denial of Secrets, or DDoSecrets, an NGO, had been a thorn in the side of secretive governments, corrupt corporations, and powerful law firms since its founding in late 2018. In June 2020, in a release known as BlueLeaks, the group published 269 gigabytes of law enforcement data, which exposed police malfeasance and surveillance overreach across the United States.

DDoSecrets also published incriminating records from overseas tax shelters, from the social media site Gab, and from a Christian crowdfunding site often used by the far right. The group has affected autocrats as well, exposing the Russian government’s plans in Ukraine and mapping out the Myanmar junta’s business dealings. These revelations have spawned numerous news stories in the public interest, making DDoSecrets a valuable source for journalists, but also rendering it a target: In July 2020, German authorities seized one of the organization’s servers. August of 2020 brought ominous news of a Department of Homeland Security bulletin labeling DDoSecrets a “criminal hacker group.” ..

Avowedly nonpartisan, DDoSecrets nonetheless exhibits an ethos that seems to fuse anarchist politics, a hacker’s curiosity about forbidden knowledge, and a general sympathy for the oppressed. Its barbed Latin slogan, Veritatem cognoscere ruat caelum et pereat mundus, roughly translates to, “To know the truth, even if the heavens fall and the world perishes.” Call it a bolder, more transformative version of “information wants to be free.”

Emma Best…launched DDoSecrets in December 2018 with someone known only by the pseudonym “The Architect.” Together, they set out to distinguish their group from WikiLeaks, which they felt had morphed into a vehicle for Julian Assange’s ego…”Truth has an impact, regardless of the respectability politics some people choose to engage in when it comes to the alleged sources,” Best wrote after Swiss law enforcement, at the request of U.S. authorities, arrested Tillie Kottmann, a hacker who alerted journalists to security vulnerabilities in a vast commercial network of surveillance cameras. “The world can no longer be rid of hacktivists or leaktivists. Not as long as people are willing.”

Excerpts from Jacob Silverman, The New WikiLeaks, The New Republic, Aug. 18, 2021

Qatar-Russia Financial Alliance

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Russia’s sale of one-fifth of its state-owned oil company to Qatar and commodities giant Glencore PLC last year had an unusual provision: Moscow and Doha agreed Russia would buy a stake back, people familiar with the matter said.  Russian President Vladimir Putin hailed the $11.5 billion sale of the Rosneft stake in December 2016 as a sign of investor confidence in his country. But the people with knowledge of the deal say it functioned as an emergency loan to help Moscow through a budget squeeze.

Moscow agreed with Qatar that Russia would buy back at least a portion of the stake from the rich Persian Gulf emirate, the people said. The Qatar Investment Authority and Glencore, the Swiss-based commodities giant, formed a partnership to buy the 19.5% stake in Russia’s energy jewel at a time when Mr. Putin’s government needed cash. The people with knowledge of the deal say the buyback arrangement was negotiated with involvement from Mr. Putin and the emir of Qatar, Sheikh Tamim bin Hamad Al Thani. Russia and Qatar saw it as an opportunity to build a bridge between countries that had taken up opposite sides in the Syrian civil war, the people said. One of the people said the buyback would happen in the next 10 years…

Rosneft, the world’s largest listed oil producer, is traded publicly in Moscow, but it isn’t easy to buy and sell large pieces of the company because it remains majority-owned by the Russian state and is an instrument of economic power for Mr. Putin.  The people familiar with the deal said a time-limited structure and a buyback agreement for the deal worked for both Qatar and Russia.

Qatar wanted its Rosneft stake to be temporary, the people said. The emirate believes it will profit from selling the shares back to Russia at a later date, the people said, betting that oil prices will rise and push up Rosneft’s share price. Qatar saw the political benefits of giving Russia access to quick cash as a sort of loan to address a budget deficit that had widened due to lower oil prices, the people said.  After the deal, a range of talks opened between Russian and Qatari businesses on a scale not seen before, Russian news agencies have reported….The deal was called the largest-ever foreign investment in a Russian company.

In an unusual arrangement, the rest of the financing was provided by Russian banks, which contributed EUR2.2 billion, and Italian bank Intesa Sanpaolo SpA, which lent EUR5.2 billion to the Glencore-Qatar consortium, according to a Dec. 10, 2016 new release issued by Glencore. The financing is “non-recourse,” Glencore said in the release, meaning the lenders couldn’t pursue Glencore and the Qatar Investment Authority if they weren’t repaid….Under the deal, the Rosneft shares aren’t held directly by Glencore and Qatar but by a U.K. limited liability partnership, according to British corporate records….

After the deal was announced, Mr. Putin awarded one of Russia’s top honors for foreigners — the Order of Friendship — to Qatar Investment Authority’s chief executive, Sheikh Abdullah bin Mohammed bin Saud Al-Thani, Intesa’s chief executive, Carlo Messina, and Glencore’s chief executive, Ivan Glasenberg.

Excepts from Russia’s Rosneft Stake Sale Had a Twist , Wall Street Journal, June 8, 2017