Billionaire link to JRM payday

Jacob Rees-Mogg got dividends of around £600,000 last year from a firm with links to Russian billionaire Gennady Timchenko – hit with UK sanctions this week.

Timchenko owns 23.5% of Russian gas company Novatek. Somerset Capital Management – set up by Mr Rees-Mogg 15 years ago – invests £5.7million of its clients’ money in Novatek. The MP has no part in its affairs.

Labour’s Angela Rayner said: “No minister should be profiting from one of Putin’s cronies.”