Jacob Rees-Mogg praised the Prime Minister’s plan to impose sanctions on Russia this afternoon, saying “tyrants must be stood up to”, Adding:

“Can I encourage her to impose a freeze on assets so that people don’t have the opportunity to take them out of the country in the short-term.”

Scrapbook wonders if Rees-Mogg would similarly support a retaliatory Kremlin backed freeze on British assets in Russia – which could see his own financial interests jeopardised.

It’s a well known fact that the MP for North East Somerset has earned millions of pounds as a founder partner at Somerset Capital Management (SCM) and owns up to 15 per cent of the shares in the company, according to register of MP’s interests.

But according to investment websites, SCM manages sizeable assets invested in Russian firms (for which it takes a tidy management fee every year).

One of the company’s flagship funds (worth £1.4bn) has over £90m invested in Russian equities, according to investment firm Hargreaves Lansdown.

And most of that (£57m) is invested in Sberbank, a Russian state-owned banking service.

The Somerset Emerging Markets Dividend Growth fund was in fact set up by Mogg with fellow founding partner of SCM Edward Robertson in the early days of the company, according to SCM’s website.

What’s more, the fund’s done awfully well for SCM (and for Mogg as a shareholder and director), seeing as its capital has grown by 45 per cent over the past five years alone.

Rees-Mogg seems a little too happy to toe a strong line on Russia after having profited from the country for so many years.

  1. Yet another greedy Tory! Fucking our country up! All this money that they’ve got, and our NHS is being UNDER FUNDED!!! All these rich cunts could save it in a second but all they want is profit! This country and government is an embarrassment!!

  2. Arthur murray says:

    Such wonderful constuctive comments
    If they cant comment without profanities and ignorance it gives little hope for a serious discussion
    Im sure Reece-Mogg is fully aware what could happen to his investments in Russia
    What ever you ignorant dimwits think of him hes not stupid

  3. Chris Bergin says:

    Ignorant dimwit here. The creature is not stupid but is most decidedly a very greedy, selfish tory.

  4. ‘Whatever you ignorant dimwits think of him he’s not stupid’. He certainly isn’t when it comes to looking after his own interests. The real dimwits are those taken in by his pretentious posing.

  5. How can anybody take a guy that looks as if he fell from the pages of a PG Wodehouse book seriously? Little Englanders are suckers for these nobheads!

  6. Harry Palmer says:

    You can tell me iggy-piggy mogg the uncouthed lieing hypocritical bastard to pay his taxes,anyway where did he get the money to start that business? Surely not the public purse no wonder this country’s in a mess and national debt has more than doubled and in austerity which by the way was not needed

  7. You will find that every Emerging Market fund and even many European funds hold Russian equity. Holding shares in Russian companies is perfectly acceptable. The value of them is likely to be adversely affected with these events. It doesn’t mean that Rees-Mogg supports Putin and his cronies

  8. I’d rather get rid of the established government career men like Mog. They are holding us all back. I’m sure austerity is a complete joke to them as they pop a cork on yet another bottle of over priced bubbly. What would they say do you think? ‘Aw chaps, what a shame, I just made ten more poor children go without a decent education and chance to live a healthy long life while I was swilling this delectable mouthwash: Haw, haw, haw!’

  9. James walker says:

    Well the taxpayers refurbished his statlely home for almost 8 million pounds why would he not ivest his million’s to avoid paying U.K. taxes I am sure that he loves his commie friends unlike the dimwits who voted for him

  10. Ian Winstone says:

    Turncoat Teresa out ,Rees-Mogg in . At least he will stand up to those thieving bastards at the E U .It’s his own business how he makes a living .

  11. Harry Steen says:

    Just seen the tone of these comments about other people. No wonder the world is in the state it is.

  12. The man is totally transparent about his business, as he is about his beliefs. The vitriolic comments on here are pretty sad.

Leave a comment

Your email address will not be published.


Comments are limited to 1000 characters.