CHAIRMAN MOGG! His funds back firms with communist links – STL.News

Star player: How Jacob Rees-Mogg might look in a Chairman Mao cap

The investment company set up by Business Secretary Jacob Rees-Mogg has multimillion pound shareholdings in Russian and Chinese companies, The Mail on Sunday can reveal.

The stakes held by Somerset Capital Management (SCM) will raise eyebrows at a time of fraught relations between the UK Government and the Kremlin following Russian president Vladimir Putin’s invasion of Ukraine.

There are also rising tensions with the communist regime in Beijing.

In his new role as Business Secretary, Rees-Mogg is in charge of sensitive rulings involving Chinese and Russian interests, including whether to allow takeovers of UK companies by Beijing-backed predators.

Among the controversial holdings is a stake in Moscow-based internet giant Yandex, which is often referred to as Russia’s Google and is the country’s largest search engine.

According to its most recent documents filed this summer, SCM held two million shares in Yandex,…

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