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=20
________________________________

From: Hagar.Chemali@treasury.gov
Sent: Thursday, May 15, 2014 4:31:48 PM (UTC-05:00) Eastern Time (US & Cana=
da)
To: _DL_TFI_Alerts@do.treas.gov; _DL_FYI@do.treas.gov
Subject: NBC: Ukraine Gas Producer Appoints R. Hunter Biden to Board



Ukraine Gas Producer Appoints R. Hunter Biden to Board

By Javier E. David=20

Ukraine's largest private gas producer announced on Tuesday that it added R=
. Hunter Biden =E2=80=94 the son of U.S. Vice President Joseph Biden =E2=80=
=94 to its board of directors.

In a statement on its website, Burisma Holdings said the younger Biden will=
 be in charge of the company's legal unit, while providing support "among i=
nternational organizations."

The release quoted Hunter Biden as saying that "my assistance in consulting=
 the Company on matters of transparency, corporate governance and responsib=
ility, international expansion and other priorities will contribute to the =
economy and benefit the people of Ukraine."

Large corporations frequently appoint well-connected marquee names of both =
major U.S. political parties as directors. Yet corporate governance experts=
 are critical of the process, which can be fraught with conflicts of intere=
sts and the appearance of favoritism.

The arrangement raised questions about the propriety of his appointment, gi=
ven the tense political standoff <http://www.nbcnews.com/storyline/ukraine-=
crisis/german-official-lands-kiev-broker-talks-between-govt-separatists-n10=
3901> between Russia and the West <http://www.nbcnews.com/storyline/ukraine=
-crisis/biden-urges-ukrainian-leaders-root-out-corruption-n93731>  over the=
 future status of Ukraine, where fighting has resulted in the deaths of doz=
ens of soldiers and civilians <http://www.nbcnews.com/storyline/ukraine-cri=
sis/seven-ukrainian-soldiers-killed-separatist-ambush-n104231> . Natural ga=
s has factored heavily in tensions between Russia and Ukraine, both of whic=
h have political leadership that's intertwined with their respective energy=
 industries.

Until a few years ago, the younger Biden was a senior vice president for fi=
nancial services giant MBNA=E2=80=94an arrangement that drew criticism duri=
ng the 2008 elections for potential conflict of interests. As a senator, th=
e elder Biden spearheaded legislation that would have affected MBNA's busin=
ess. Meanwhile, Vice President Biden has been a vocal supporter of a cross-=
border European natural gas pipeline.

Earlier Tuesday, White House spokesman Jay Carney referred questions on the=
 appointment to the vice president's office.

In response to an inquiry from CNBC, a spokesperson for the vice president =
said, "Hunter Biden is a private citizen and a lawyer. The vice president d=
oes not endorse any particular company and has no involvement with this com=
pany."

A representative at Rosemont Seneca told CNBC that Biden was traveling and =
not immediately available for comment.

With Moscow threatening to cut gas supplies to the former Soviet satellite,=
 some have called for the U.S. to deepen its ties to Ukraine by shipping it=
s own natural gas bounty to Eastern Europe.

Burisma touted Biden's "public service and foreign policy," and is listed a=
s a co-founder of Rosement Seneca Partners, an investment advisory company.=
 He also served as executive director of E-Commerce Policy Coordination und=
er former Commerce Secretary William Daley, and co-chaired the 2008 Obama-B=
iden Inaugural Committee.

=20


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<strong>
<div><font face=3D"Tahoma" color=3D"#000000" size=3D"2">&nbsp;</font></div>
</strong>
<hr tabindex=3D"-1">
<font face=3D"Tahoma" size=3D"2"><b>From:</b> Hagar.Chemali@treasury.gov<br=
>
<b>Sent:</b> Thursday, May 15, 2014 4:31:48 PM (UTC-05:00) Eastern Time (US=
 &amp; Canada)<br>
<b>To:</b> _DL_TFI_Alerts@do.treas.gov; _DL_FYI@do.treas.gov<br>
<b>Subject:</b> NBC: Ukraine Gas Producer Appoints R. Hunter Biden to Board=
<br>
</font><br>
<div></div>
<div>
<div class=3D"WordSection1">
<h1><span lang=3D"EN" style=3D"font-size:11.0pt">Ukraine Gas Producer Appoi=
nts R. Hunter Biden to Board</span></h1>
<address><span lang=3D"EN" style=3D"font-size:11.0pt">By Javier E. David </=
span></address>
<p class=3D"ember-view" id=3D"ember1181"><span lang=3D"EN" style=3D"font-si=
ze:11.0pt">Ukraine's largest private gas producer announced on Tuesday that=
 it added R. Hunter Biden =E2=80=94 the son of U.S. Vice President Joseph B=
iden =E2=80=94 to its board of directors.</span></p>
<p class=3D"ember-view" id=3D"ember1182"><span lang=3D"EN" style=3D"font-si=
ze:11.0pt">In a statement on its website, Burisma Holdings said the younger=
 Biden will be in charge of the company's legal unit, while providing suppo=
rt &quot;among international organizations.&quot;</span></p>
<p class=3D"ember-view"><span lang=3D"EN" style=3D"font-size:11.0pt">The re=
lease quoted Hunter Biden as saying that &quot;my assistance in consulting =
the Company on matters of transparency, corporate governance and responsibi=
lity, international expansion and other priorities
 will contribute to the economy and benefit the people of Ukraine.&quot;</s=
pan></p>
<p class=3D"ember-view" id=3D"ember1189"><span lang=3D"EN" style=3D"font-si=
ze:11.0pt">Large corporations frequently appoint well-connected marquee nam=
es of both major U.S. political parties as directors. Yet corporate governa=
nce experts are critical of the process,
 which can be fraught with conflicts of interests and the appearance of fav=
oritism.</span></p>
<p class=3D"ember-view" id=3D"ember1194"><span lang=3D"EN" style=3D"font-si=
ze:11.0pt">The arrangement raised questions about the propriety of his appo=
intment, given
<a href=3D"http://www.nbcnews.com/storyline/ukraine-crisis/german-official-=
lands-kiev-broker-talks-between-govt-separatists-n103901">
the tense political standoff </a>between Russia <a href=3D"http://www.nbcne=
ws.com/storyline/ukraine-crisis/biden-urges-ukrainian-leaders-root-out-corr=
uption-n93731">
and the West</a> over the future status of Ukraine, where fighting has resu=
lted in
<a href=3D"http://www.nbcnews.com/storyline/ukraine-crisis/seven-ukrainian-=
soldiers-killed-separatist-ambush-n104231">
the deaths of dozens of soldiers and civilians</a>. Natural gas has factore=
d heavily in tensions between Russia and Ukraine, both of which have politi=
cal leadership that's intertwined with their respective energy industries.<=
/span></p>
<p id=3D"ember1195"><span lang=3D"EN" style=3D"font-size:11.0pt">Until a fe=
w years ago, the younger Biden was a senior vice president for financial se=
rvices giant MBNA=E2=80=94an arrangement that drew criticism during the 200=
8 elections for potential conflict of interests.
 As a senator, the elder Biden spearheaded legislation that would have affe=
cted MBNA's business. Meanwhile, Vice President Biden has been a vocal supp=
orter of a cross-border European natural gas pipeline.</span></p>
<p><span lang=3D"EN" style=3D"font-size:11.0pt">Earlier Tuesday, White Hous=
e spokesman Jay Carney referred questions on the appointment to the vice pr=
esident's office.</span></p>
<p><span lang=3D"EN" style=3D"font-size:11.0pt">In response to an inquiry f=
rom CNBC, a spokesperson for the vice president said, &quot;Hunter Biden is=
 a private citizen and a lawyer. The vice president does not endorse any pa=
rticular company and has no involvement with
 this company.&quot;</span></p>
<p><span lang=3D"EN" style=3D"font-size:11.0pt">A representative at Rosemon=
t Seneca told CNBC that Biden was traveling and not immediately available f=
or comment.</span></p>
<p><span lang=3D"EN" style=3D"font-size:11.0pt">With Moscow threatening to =
cut gas supplies to the former Soviet satellite, some have called for the U=
.S. to deepen its ties to Ukraine by shipping its own natural gas bounty to=
 Eastern Europe.</span></p>
<p id=3D"ember1196"><span lang=3D"EN" style=3D"font-size:11.0pt">Burisma to=
uted Biden's &quot;public service and foreign policy,&quot; and is listed a=
s a co-founder of Rosement Seneca Partners, an investment advisory company.=
 He also served as executive director of E-Commerce
 Policy Coordination under former Commerce Secretary William Daley, and co-=
chaired the 2008 Obama-Biden Inaugural Committee.</span></p>
<p class=3D"MsoNormal"><span style=3D"font-size:11.0pt">&nbsp;</span></p>
</div>
</div>
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