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Tories 'didn't seek Russian cash' Tories 'didn't seek Russian cash'
(20 minutes later)
The Conservatives have denied claims shadow chancellor George Osborne tried to solicit a £50,000 donation from Russian billionaire Oleg Deripaska.The Conservatives have denied claims shadow chancellor George Osborne tried to solicit a £50,000 donation from Russian billionaire Oleg Deripaska.
Financier Nathaniel Rothschild told The Times that Mr Osborne and Tory chief executive Andrew Feldman had discussed a donation from Mr Deripaska.Financier Nathaniel Rothschild told The Times that Mr Osborne and Tory chief executive Andrew Feldman had discussed a donation from Mr Deripaska.
Mr Rothschild said they had boarded the Russian businessman's yacht in the summer "to solicit a donation".Mr Rothschild said they had boarded the Russian businessman's yacht in the summer "to solicit a donation".
A Conservative spokesman called the claims "completely untrue".A Conservative spokesman called the claims "completely untrue".
He added that the party had "neither sought or received any donations from Mr Deripaska nor any of his companies".He added that the party had "neither sought or received any donations from Mr Deripaska nor any of his companies".
LetterLetter
Under electoral law, overseas residents cannot make donations to UK political parties.Under electoral law, overseas residents cannot make donations to UK political parties.
In his letter to The Times, Mr Rothschild alleges that Mr Feldman suggested that Mr Deripaska might channel the money to the Tories via one of his British firms. In his letter to The Times, Mr Rothschild alleges that Mr Feldman suggested that Mr Deripaska might channel the money to the Tories via one of his British firms. This raises real questions about the Conservatives' judgement in pursuing allegations about Mandelson's dealing with a man who they themselves had discussed money with Nick RobinsonBBC political editor class="" href="http://www.bbc.co.uk/blogs/nickrobinson/2008/10/the_corfu_story.html">Read Nick's blog in full class="" href="http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/10/rothschild_v_osborne.html">Read Robert Peston's blog
He added that the businessman had declined to make any donation.He added that the businessman had declined to make any donation.
A Conservative spokesman said: "The allegations made in Mr Rothschild's letter to the Times are completely untrue.A Conservative spokesman said: "The allegations made in Mr Rothschild's letter to the Times are completely untrue.
"Both Andrew Feldman and George Osborne deny absolutely that they attempted to solicit a donation from Oleg Deripaska."Both Andrew Feldman and George Osborne deny absolutely that they attempted to solicit a donation from Oleg Deripaska.
"Nor did they suggest a method by which he could conceal a donation via a British company."Nor did they suggest a method by which he could conceal a donation via a British company.
"They spent a short period of time on Mr Deripaska's boat at the invitation of Mr Rothschild."They spent a short period of time on Mr Deripaska's boat at the invitation of Mr Rothschild.
"Donations to the Conservative Party were not discussed with Mr Deripaska."Donations to the Conservative Party were not discussed with Mr Deripaska.
"In a conversation on September 18, Mr Rothschild suggested to Andrew Feldman that Mr Deripaska wanted to make a donation to the party through one of his British companies.""In a conversation on September 18, Mr Rothschild suggested to Andrew Feldman that Mr Deripaska wanted to make a donation to the party through one of his British companies."
'Well-heeled''Well-heeled'
The spokesman added: "The offer was not taken up. For clarity - the Conservative Party has neither sought or received any donations from Mr Deripaska nor any of his companies."The spokesman added: "The offer was not taken up. For clarity - the Conservative Party has neither sought or received any donations from Mr Deripaska nor any of his companies."
The new business secretary - a European Commissioner at the time - Lord Mandelson, also spent time on Mr Deripaska's yacht, Queen K, when it was docked by the Greek island of Corfu in the summer.The new business secretary - a European Commissioner at the time - Lord Mandelson, also spent time on Mr Deripaska's yacht, Queen K, when it was docked by the Greek island of Corfu in the summer.
In his letter to The Times, Mr Rothschild says he is writing in because of that newspaper's "obsession with Mr Mandelson".In his letter to The Times, Mr Rothschild says he is writing in because of that newspaper's "obsession with Mr Mandelson".
He added: "I also think it ill behoves all political parties to try and make capital at the expense of another in such circumstances.He added: "I also think it ill behoves all political parties to try and make capital at the expense of another in such circumstances.
"Perhaps in future it would be better if all involved accepted the age-old adage that private parties are just that.""Perhaps in future it would be better if all involved accepted the age-old adage that private parties are just that."