Vice President Joe Biden’s youngest son Hunter has joined the board of directors of Ukraine’s biggest oil and gas company.
Burisma Holdings said the younger Biden will help the company manage its relationships with “international organizations” and oversee the firm’s legal unit.
Burisma is a private oil and gas company founded in 2002.
Through cooperation with Ukrainian state-owned producers, it has become the largest private gas producer in Ukraine.
The company’s average daily output stood at 10,500 barrels of oil equivalent per day in September 2013.
All of the company’s gas is sold to industrial customers in Ukraine.
A few weeks ago, when Vice President Biden traveled to Ukraine, Burisma hired Devon Archer to its board.
Archer is a wealthy investor and Democratic campaign fundraiser with long ties to U.S. Secretary of State John Kerry, the International Business Times said.
“Archer was an adviser to Kerry’s presidential campaign in 2004 and co-chaired Kerry’s National Finance Committee.”
Archer said Burisma reminded him of “Exxon in its early days.”
Natural gas accounts for 38 percent of Ukraine’s energy sources.
“The country relies on Russia’s gas company Gazprom currently to satisfy most of its energy needs, but will aim to reduce that dependency in coming years, and Burisma is well-positioned to boost its share of the domestic market,” IBT said.
Vice President Biden’s office and the White House said there was no conflict of interest in Hunter Biden’s appointment.
“Hunter Biden is a private citizen and a lawyer,” Vice President Biden’s spokeswoman Kendra Barkoff told ABC News. “The vice president does not endorse any particular company and has no involvement with this company.”
White House spokesman Jay Carney said, “Hunter Biden and other members of the Biden family are obviously private citizens and where they work … does not reflect an endorsement by the administration or by the vice president or president.”
Biden is a graduate of Yale Law School and is managing partner at Rosemont Seneca Partners.
He’s also counsel to the New York-based law firm Boies, Schiller & Flexner LLP, headed by legal superstar David Boies.