Open Now
Open Now
Watch now

Hunter Biden Still Owns Stake in Chinese Oil Company

Chinese business records show that Hunter Biden's company, Skaneateles, which he started with a 10% stake in BHR Partners, still has a 10% stake in the company, despite what some people say.

In November, Hunter Biden's lawyer, Chris Clark, told the New York Times that Hunter "no longer has any interest, directly or indirectly, in either BHR or Skaneateles."

But business records from China show that Clark is wrong. The latest filing came from BHR itself, according to the Chinese site Qixin, and it was made last month, the Washington Examiner said. "BHR's annual report for 2021 will be made public on June 20. Still, Skaneateles is listed as a "shareholder" with a 10% stake.

Hunter Biden is seen in 2010 meeting a group of executives from Thornton Group on his visit to China. The son of Joe Biden's business dealings in China have come under intense scrutiny
Hunter Biden is seen in 2010 meeting a group of executives from Thornton Group on his visit to China. The son of Joe Biden's business dealings in China have come under intense scrutiny
 

It's possible that China's business registry hasn't been updated to show that Hunter has given up his interest. But since Hunter is the son of the president of the United States, this seems unlikely.

A representative for Hunter has also refused to say who bought the stake in the company and how much they paid for it.

Hunter may own part of BHR Partners. This is important because BHR Partners is the same company with ties to Chinese oil interests to which the Biden administration reportedly sold 950,000 barrels of oil from the U.S. Strategic Petroleum Reserve earlier this month.

Data from Hunter's laptop shows that Hunter Biden and BHR Partners also had "significant" deals with the Chinese battery company CATL that were worth hundreds of thousands of dollars.

Hunter Biden is seen in the White House on July 7. His lawyers say he no longer has any financial interest in BHR, which bought the stake in the Chinese oil firm
Hunter Biden is seen in the White House on July 7. His lawyers say he no longer has any financial interest in BHR, which bought the stake in the Chinese oil firm

Before July, Hunter Biden was not the only Biden with a connection to BHR Partners. In 2017, Joe Biden wrote a letter of recommendation for college for the son of Jonathan Li, a Chinese business partner of Hunter's. Joe Biden met Jonathan Li in China. Li runs BHR as CEO. Joe Biden and Li are said to have met for the first time when Hunter Biden went to China with his father on Air Force Two in 2013.

Reports say that Joe Biden sold 950,000 barrels of oil from the US Strategic Petroleum Reserve to a state-owned Chinese company in which Hunter Biden's private equity firm had a stake worth $1.7 billion.

Five million barrels of oil were sent overseas early month, even though the White House said letting them go would help Americans pay less at the pumps.

The 950,000 barrels were sold to Unipec, which is the trading arm of Sinopec, which is better known as the China Petrochemical Corporation.

Sinopec is also connected to BHR Partners, a private equity firm that Hunter helped to start in 2013.

The Federalist said that in 2015, BHR spent $1.7 billion to buy a piece of Sinopec.

At least seven times, Joe Biden and his staff have said that the president has nothing to do with the family business. Still, Joe Biden has worked for the family business at least 13 times in the past nine years.

===========

Follow us on Google News