An investment fund backed by Russian oligarchs sanctioned by the European Union following the invasion of Ukraine has ties to Teneo, an influential corporate-advisory firm based in the United States.
The public relations and strategy giant was hired in 2020 by LetterOne, a private equity firm based out of Luxembourg that counts sanctioned billionaires Mikhail Fridman, who is a native of Ukraine, and Petr Aven among its cofounders. The contract, which was viewed by CNBC, appears to have paid Teneo more than $3.6 million to line up interviews and consult…
