Lord Mandelson denies favours for Russian billionaire Oleg Deripaska ahead of official trip to Moscow

Moscow-bound Mandelson denies Deripaska bias

Moscow-bound Mandelson denies Deripaska bias

Lord Mandelson has denied favours for Russian billionaire Oleg Deripaska shortly before leaving for an official trip to Moscow.

The business secretary will be accompanied by a delegation of UK business leaders during the trip in which he will meet prominent Russian businessmen.

Both Lord Mandelson and shadow chancellor George Osborne have been embroiled in a corruption scandal over meetings with Russian billionaire Oleg Deripaska.

Speaking to Sky News today, the business secretary insisted he had not done any favours for aluminium magnate Mr Deripaska.

He told the television channel: “A lot has been said about the relationship I have with one particular Russian businessman.

“All I would say about that is that he has never asked for any favours, I have never given him any favours and that is what the European Commission in their examination of the issue has very firmly put on record,” he added.

Earlier in the week, he admitted that he had ties to the Russian businessmen two years before he had previously told media.

And in another statement yesterday, he said that his ties to Mr Deripaska had not influenced his decision to cut aluminium tariffs in his time as European Union trade commissioner.

Speaking to the Sunday Telegraph, shadow business secretary Alan Duncan said that Lord Mandelson needed to come clear on his relationships with the business community.

“It would appear that he has only given a partial picture. His attempted stitch-up of George Osborne is now backfiring badly on him.

“All Lord Mandelson’s so-called considered statements have been a carefully-crafted piece of the picture and only bit by bit – drip by drip – are we beginning to see the truth that he has been holding back.

“He should now make a full statement – up to Westminster standards – of all his interests and associations while an EU Commissioner,” he added.