Tory Treasurer hired by Sunak and Zahawi rakes it in from Russian oil industry
The Tories’ top treasurer has been raking it in from a firm still dealing with warmonger Vladimir Putin’s Russia.
Billionaire Mohamed Mansour co-owns UK-based Unatrac and a subsidiary supplying machinery to Russia’s oil and gas industry. Unatrac has donated £600,000 to the Conservatives and Mr Mansour is said to have pledged £2million to the Tories himself.
He was appointed Senior Treasurer last month by PM Rishi Sunak and tax row party chairman Nadhim Zahawi.
Unatrac has made millions with its subsidiary Mantrac Vostok by supplying Caterpillar machinery to Russia – which has been under sanctions since invading Ukraine last year.
Prime Minister Mr Sunak said, while Chancellor last March: “I am urging firms to think very carefully about their investments in Russia and how they may aid the Putin regime.”
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Bloomberg via Getty Images)
But in December, he and tax-row Tory chairman Nadhim Zahawi appointed Mr Mansour, who is reportedly worth £2.3billion, to the top post with the Tories. The job of Senior Treasurer is expected to involve a fundraising drive ahead of next year’s expected General Election.
Last night the party refused to comment or answer questions on the ongoing Russian business interests of their head fundraiser.
But Anneliese Dodds, Labour Party chair, said: “Rishi Sunak has appointed a person who has made millions from trading in Russia. This government is drowning in sleaze, making an absolute mockery of Sunak’s promise of professionalism, integrity and accountability at all levels.
“Once again Rishi Sunak is too weak to lead. Will he continue to accept donations from someone trading with Russia, or will he grow a backbone, stop taking the money and cut ties with this individual?”
Unatrac and sister firm Mantrac Vostok have a string of offices and warehouses throughout Russia, dealing in Caterpillar equipment for mining and energy production.
On its website, Unatrac states that it operates in various African nations as well as Iraq and Russia.
A spokesman said they had “scaled back” their Russia operation following Vladimir Putin’s invasion of Ukraine. The Sunday Mirror found Unatrac’s website was offering machinery for sale and rent in Russia, which were still listed on its website last night.
The two firms are part of Mansour Group, owned and controlled by Mr Mansour and his brothers Youssef and Yasseen. It had revenues of more than £6billion in 2021.
Mr Mansour, who has both UK and Egyptian citizenship, served as a transport minister under the Hosni Mubarak regime. He resigned in 2009 following a train crash which killed at least 50 people and injured 30 more.
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Mr Mansour’s Tory prospects were the subject of widespread speculation last year, with sources repeatedly denying he was in the frame for the job of Senior Treasurer.
But it was eventually confirmed by Mr Sunak and fellow former Chancellor Mr Zahawi in December, during a private reception for donors at the National Army Museum in London.
Since then, Mr Zahawi has faced questions and calls to stand down as Tory chairman over a £5million tax bill settlement with HMRC.
Latest figures show the Conservative Party accepted almost £49million in donations in the first three quarters of 2022.
Mr Mansour, 75, is a client of Hawthorn Communications, the PR firm co-owned by former Tory chairman Ben Elliot.
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Ian Vogler / Daily Mirror)
Mr Elliot’s other firm, posh concierge service Quintessentially, was forced to close its Russia office last March, amid “growing concern” about links between the Conservatives and Russian money.
At the time, Mr Sunak addressed UK-Russia links, saying: said: “I welcome commitments already made by a number of firms to divest from Russian assets.”
Mr Mansour’s firm made its first moves in the Russian market in 1996, launching an operation in Siberia.
In a 2016 interview with Construction Week, he boasted that he had defied predictions that he would lose $5million a year in the deal. Sceptics had pointed to the fact that the industry used Russian and Chinese equipment, rather than the more expensive Caterpillar gear.
But Mr Mansour told the trade paper: “Why did I say ‘Okay, we’ll do it’? Because they have 30% of the world’s gas reserves. The first year we started selling equipment and then we started making money. The potential is huge.”
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Mikhail Klimentyev/AP/REX/Shutterstock)
Mantrac Vostok lists 15 offices and warehouses around the country on its website. In 2021, Unatrac’s export arm, which is based in the UK, had a turnover of £115million, according to their most recently published accounts. Of that figure, £98million was made in Africa, with the remaining £17.7million made in Iraq, Russia and the rest of the world.
Mr Mansour’s historic business interests in Russia were first revealed by Private Eye magazine.
In July, the UK extended sanctions on Russia to include “large earth-moving equipment used in the mining industry”.
But a source said Unatrac was not selling machinery used in mining in Russia – in compliance with international sanctions.
A spokesperson for Unatrac told the Sunday Mirror: “Since the invasion of Ukraine, Mantrac Vostok (a subsidiary of the Dubai company Unatrac Holding Limited) has scaled back its operations considerably and has been focused on fulfilling long standing commitments that pre-date February 2022.
“The company operates in absolute accordance with all international (including UK, US and European) sanctions.”
Conservative Campaign Headquarters had no comment.