Rishi Sunak visited Russia-linked tech firm on General Election campaign trail

Exclusive:

When first formed in 2015, Artemis Technologies was the UK arm of Gunvor – a commodities trading firm co-founded by oligarch Gennady Timchenko. His former business partner still sits on the firm’s board

Rishi Sunak visited a Russia-linked tech firm during his first disastrous days on the campaign trail, the Mirror can reveal.

On Friday, the PM visited Northern Ireland firm Artemis Technologies – which is based in Belfast’s Titanic Quarter. When the firm was first launched in 2015 it was the UK arm of then-Russian commodities trader Gunvor – once described by US diplomats as a rumoured “source of Putin’s undisclosed wealth”.

Among Artemis’ directors is Tobjorn Tornqvist – the Swedish businessman who co-founded Gunvor with Russian Oligarch Gennady Timchenko in 2000. Mr Tornqvist bought Mr Timchenko out of the business in 2014 after the US imposed sanctions on him.

At the time, the US Treasury claimed that via Mr Timchenko “Putin has investments in Gunvor and may have access to Gunvor funds.” Gunvor Group Ltd launched Gunvor UK – which was later renamed Artemis – the following year.

Mr Tornqvist remains chief executive of Gunvor Group – and sits on Artemis’ board of directors. Following the invasion of Ukraine, Gunvor Group released a statement saying it had no “material exposure” to Russia. But in June last year it was reported to still be a “significant buyer of refined oil from Russia.”

Mr Tornqvist sold his 75% stake in Artemis in 2018, but remains a director of the firm. His son Fredrik – also senior executive at Gunvor – was appointed to Artemis’ board in 2021. The Conservative Party declined to comment, but a source said Mr Tornqvist had “cut ties” with Mr Timchenko in 2014.

A spokesperson for Artemis said: “Artemis Technologies is an independent UK-based organisation led and owned by British citizens who are working passionately for emissions-free transportation.”