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Mercury Public Relations has signed on Moscow-based Sovcombank for strategic consulting, management services and government relations work, which includes outreach to US officials.
The four-month contract, which began Jan. 26, is worth $90K per month.
Democratic US Senators on Jan. 12 introduced the “Defending Ukraine Sovereignty Act of 2022," which lists Sovcombank as one of the Russian financial services targeted for sanctions in the event that Russia invades Ukraine.
Sovcombank is 89.9 percent owned by a group of Russian businessmen.
The remaining 10.1 percent stake is owned by the Public Investment Fund of Saudi Arabia (3.3 percent), Russia-China Investment Fund (2 percent), Russia Direct Investment Fund (1.3 percent), Russia-Japan Investment Fund (1.3 percent), Qatar Investment Holdings (1 percent) and SBI Holdings (0.5 percent).
Mercury’s Sovcombank six-member lobbying team includes co-chair and former Connecticut Democratic Congressman Toby Moffett and ex-Louisiana Senator David Vitter.
Omnicom owns Mercury.
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