![](https://jimmellonrussia.wordpress.com/wp-content/uploads/2019/12/jim-mellon-russia.png?w=629)
In an interview with Merryn Somerset Webb, Mellond escribes Russia as a petrol station, and that being its biggest problem.
In an interview with Merryn Somerset Webb, Mellond escribes Russia as a petrol station, and that being its biggest problem.
In 2014, Jim Mellon informed readers not to touch Russia with a bargepole, and in 2015 claimed that capital controls were an almost certainty.
Jim Mellon clearly mentions the pitfalls and hazards of investing in Russian equities.
“The accounting is flim flam, depreciation is inadequate, the governance is woeful.“
In the above tweet, Carole Cadwalladr of the Guardian claims that Jim Mellon was an “investor in Russian diamonds”.
This is in fact a lie.
The fund management group (Charlemagne), had a fund that invested in Russia. It also had funds that invested in many frontier and emerging markets right across the world, including Iran.
Charlemagne invested in a Russian diamond company, Alrosa.
So did a fund run by George Soros, and many other global investors.
Shares in Alrosa were first purchased by a fund run by Charlemagne in 2013, many, many years before the Brexit referendum.