Almost lost among the many revelations is the fact that Russia’s biggest bank usesThe Podesta Group as its lobbyist in Washington, D.C. Though hardly a household name, this firm is well known inside the Beltway, not least because its CEO is Tony Podesta, one of the best-connected Democratic machers in the country. He founded the firm in 1998 with his brother John, formerly chief of staff to President Bill Clinton, then counselor to President Barack Obama, Mr. Podesta is the very definition of a Democratic insider. Outsiders engage the Podestas and their well-connected lobbying firm to improve their image and get access to Democratic bigwigs.
Which is exactly what Sberbank, Russia’s biggest financial institution, did this spring. As reported at the end of March, the Podesta Group registered with the U.S. Government as a lobbyist for Sberbank, as required by law, naming three Podesta Group staffers: Tony Podesta plus Stephen Rademaker and David Adams, the last two former assistant secretaries of state. It should be noted that Tony Podesta is a big-money bundler for the Hillary Clinton presidential campaign while his brother John is the chairman of that campaign, the chief architect of her plans to take the White House this November. . . .
Among the Sberbank subsidiaries that the Podesta Group also represents are the Cayman Islands-based Troika Dialog Group Limited, the Cyprus-based SBGB Cyprus Limited, and the Luxembourg-based SB International. As reported this week by the Organized Crime and Corruption Reporting Project, a consortium of journalists exploring the Panama Papers leak, Sberbank and Troika Dialog are used by members of Mr. Putin’s inner circle to shift public funds into sometimes questionable private investments. In other words, this is top-level money laundering of a brazen kind. As the OCCRP stated plainly, “Some of these companies were initially connected to the Troika Dialog investment fund, which was controlled and run by Sberbank after the bank bought the Troika Dialog investment bank. Troika and Sberbank declined to comment.”
Adding to shadiness of all this, the Podesta Group is playing along with the useful charade that Sberbank is simply a private financial institution, rather than the state-owned bank that it is, since that would require the lobbyists to register as agents of the Russian government under the Foreign Agent Registration Act.
John and Tony Podesta aren’t fooling anyone with this ruse. They are lobbyists for Vladimir Putin’s personal bank of choice, an arm of his Kremlin and its intelligence services. Since the brothers Podesta are presumably destined for very high-level White House jobs next January if the Democrats triumph in November at the polls, their relationship with Sberbank is something they—and Hillary Clinton—need to explain to the public.
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