Rees Mogg accused of hypocrisy over Russian investments
Jacob Rees Mogg was forced to defend his company's decisions to invest heavily Russia, including with two companies under sanctions by the United States, whilst Mogg has publicly attacked President Vladimir Putin and his government. The leading Brexiteer's firm holds investments in Russia, worth approximately £217m.
The Tory MP has previously described the Russian government as “tyrants need [that need] to be stood up to” in a speech to parliament.
Speaking on the BBC's Andrew Marr Show, the Somerset MP added: “Somerset Management is an emerging markets investment management company. We manage clients’ money - it's not our own money, it's clients’ money.”
The MP added: "You're assuming I make money from these investments. I don't. These aren't my investments."
In 2017, whilst he was reportedly considering a leadership challenge, it was revealed that Mogg had received around £4m from the investment firm since entering parliament.
“Our job is to invest in emerging markets for our clients using their money. We have to do that as well as we can under the law.
“We would be opening ourselves up to legal actions if we decided that my political opinions should influence the investments. That would be quite improper."
As the co-founder of the firm, Mogg has been receiving payments of between £12,505.83, and £21,003.53 a month for 30 hours work, on top of his MP's salary.
The MP has recently bought Lord Ashcroft's £5m London mansion, arguing he was forced to move home as he “couldn't afford” to remain in Mayfair.