Daily Archives: October 27, 2008

The story of the weekend was surely the Mail on Sunday exclusive on Britain disposing of a camel saddle presented to Tony Blair by Muammer Gaddafi of Libya. The gesture of solidarity was apparently sold at auction for the princely sum of £20.

This revelation comes days after Gordon Brown withdrew an invitation for Mr Gaddafi to attend the London oil summit, which has been downgraded to ministerial level. 

For those wanting to know more about Oleg Deripaska’s ailing metals empire, Catherine Belton’s weekend piece is indispensable. One observer likens the Russian oligarch’s business to a house of cards.

A worrying aspect for UK taxpayers is who he owes money to. Mr Deripaska is presently scrambling to repay Royal Bank of Scotland, a UK bank that is set to be part-nationalised. In this small and indirect way, Britain is exposed to the Russian oligarch’s financial fortunes.