Reports published Oct. 23 and 24 by the Financial Times (FT) and New York Times (NYT) say the former head of a North Slope gas export venture called Polar LNG walked away after concluding that Russia’s Novatek was quietly paying for and steering it. The mix of a sanctioned Russian company, a peace negotiation and a Trump family friend raises a question worth testing: could this be the biggest scandal of Donald Trump’s presidency? This analysis weighs that Trump biggest scandal argument against the documented record, point by point.
Where it stands: On Oct. 26, the clearest status line came from Business Standard’s FT summary: “No US authority has publicly established that the alleged financing constituted a sanctions violation.” Every company involved disputes the core allegation, and no lawmaker statement aimed specifically at Polar LNG had appeared in the coverage we reviewed.
The denials come first because they are categorical. Bloomberg reported that Polar LNG labeled former CEO Joel Riddle a “disgruntled former employee” it had dismissed, and told the FT that “Development activities are being pursued in full compliance with applicable US laws.” Novatek told the FT that its interest does not hinge on sanctions relief and that it treats the Alaska plan as a standalone project. The venture’s Abu Dhabi owner, Tech Wave, said Novatek holds no interest in it. A U.S. official told the FT the plan had “only been broadly and briefly mentioned” to the administration. A spokesman for Donald Trump Jr. said Trump Jr. has drifted apart from Gentry Beach, the friend who struck an earlier Novatek deal, as Raw Story summarized the NYT.
Calling it the “biggest” or a “corruption” case is the critics’ framing. This site has reached no such verdict, and no court or agency has either. Our news report covers the underlying allegations in full.
The case critics make, element by element
Critics do not rest on a single fact. They point to five overlapping ones, each of which is documented, and argue that the combination is what sets this story apart.
Scale. Business Standard, relaying the FT, described “A $25 billion liquefied natural gas (LNG) export project in Alaska” now caught up in a dispute over Russian money. Polar LNG has cited a smaller cost for its first phase, so the headline number describes full build-out, not money spent.
A sanctioned counterparty. Novatek is not fully blocked, but Business Standard notes it “has been subject to certain US financing restrictions, while Arctic LNG 2’s operator faces blocking sanctions.” Raw Story’s account of the NYT report describes texts in which Novatek’s deputy chairman and chief executive talked about sending Tech Wave up to $15 million. That figure was discussed in messages; no outlet has confirmed how much arrived.
The peace-talks link. According to the NYT, which cited people familiar with the negotiations, Putin brought up the Alaska gas plan when Trump’s envoys, Steve Witkoff and Jared Kushner, visited in September. Raw Story’s summary adds that White House officials view deals of this kind as a way to ease tensions with Moscow. That fits an older pattern: in August 2025, Reuters sources said energy deals floated in U.S.-Russia talks “were put forward as incentives to encourage the Kremlin to agree to peace in Ukraine and for Washington to ease sanctions on Russia.”
Timing. Trump signed Executive Order 14436 waiving the Graham Act’s Russia provisions on Oct. 16, one week before the Polar LNG reports. The White House told ABC News that “Enforcing the sanctions provisions now would impede ongoing U.S. efforts to negotiate a durable and comprehensive peace agreement between Ukraine and Russia.” Critics read the sequence as suspicious. No outlet has reported that the waiver was connected to Polar LNG. Our waiver explainer details what it covered.
The family-friend thread. In February, Reuters, citing the NYT, reported that Gentry Beach, Trump Jr.’s friend from college, “signed an agreement with Russia’s energy giant Novatek last autumn to develop natural gas in Alaska.” Beach told the Anchorage Daily News in March that he has “social relationships with the Trump family, but does not do business with them.”
What the voices quoted so far actually say
The sharpest on-record criticism comes from energy and sanctions specialists, not from any official body. Geoffrey Pyatt, a State Department energy official under President Joe Biden, told the NYT the idea “feeds the belief that Putin can get an out-of-jail-free card.” Ilya Zaslavskiy, a Washington-based gas consultant who studies Russian sanctions, told the Times, per The Daily Beast, that “Any approach by Novatek to transfer technology should be seen as a Kremlin attempt to co-opt U.S. policymakers in order to undermine U.S. foreign policy toward Ukraine and our allies.”
Back in March, Alaska analyst Larry Persily asked of Beach’s separate plan: “Who is this guy and where does he come from?” Riddle himself goes furthest. “It’s not only unlawful, but it’s not in the U.S. interest,” he told the Times. That is his legal opinion, contested by the company, and untested by any regulator.
What the record does not show
Set against that case, the gaps are substantial, and they are where the “biggest scandal” label is weakest.
- No reported family stake. None of the reporting reviewed says Trump, Trump Jr. or any relative owns part of Polar LNG or signed anything with Novatek. Riddle told the FT that Beach “had not invested in the company and was neither a shareholder nor a director,” in Business Standard’s paraphrase, and Novatek told the NYT that Beach played no role when it discussed taking a stake.
- No evidence the envoys knew. The NYT itself found no indication Witkoff or Kushner were aware of Polar LNG’s Novatek ties.
- No finding. Treasury told the FT: “While we do not comment on allegations of sanctions violations, we take potential violations extremely seriously.” As of Oct. 26, no penalty, indictment or lawsuit tied to Polar LNG had surfaced.
- A disputed witness. The central claim rests on Riddle, whom the company says it fired for cause. The NYT reported he resigned before receiving a termination letter, but his account of Novatek control has not been independently confirmed.
- No money traced to Trump. The only sums reported are a project cost estimate and the texts about as much as $15 million for the Abu Dhabi parent, not funds reaching any American political figure.
Our fact check tests specific viral claims against those reports.
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How the Trump biggest scandal claim compares with other 2026 items
Ranking controversies is subjective, but the figures can be set side by side. The items below appear on our corruption tracker; each figure here is sourced independently to the outlet named.
| Item | Reported figure | Money to Trump family? |
|---|---|---|
| Novatek / Polar LNG | $25 billion project (FT); up to $15 million in texts (NYT) | None reported |
| Lukoil asset sale | Assets valued near $20 billion | None reported for the envoys |
| $TRUMP memecoin | At least $635 million in royalties | Yes, per Trump’s disclosure |
| Qatari 747 | $400 million plane | Gift to the Air Force |
| Kremlev wedding parties | Hundreds of thousands of dollars | Paid for Trump Jr.’s celebrations; repaid, Kremlev says |
The comparison cuts both ways. On documented personal income, the memecoin is far larger: CBS News reported that Trump “earned at least $635 million in royalties last year from a licensing deal tied to the $TRUMP token, according to his financial disclosure.” A White House official told CBS the coin dinner is “a private event, not a government function, and there is no promise of official government action in exchange for attending.”
The Qatari jet, described by the Associated Press as “The $400 million Qatari plane,” went to the Air Force; Trump has said it will later go to his presidential library. The Kremlev case involved a Putin-linked businessman who, ProPublica reported per the AP, “footed the bill for hundreds of thousands of dollars of wedding expenses” tied to Trump Jr.’s May wedding. Trump said “It’s totally allowed,” and Kremlev says the money was repaid.
The closest parallel is Lukoil. Türkiye Today, citing the NYT, reported that Lukoil “valued its international assets at about $20 billion,” that the leading bid includes investors with ties to people around the envoys, and that there is “no indication that Witkoff or Kushner themselves stand to profit.” Witkoff’s spokeswoman said he has “no conflict of interest and no financial stake in this matter.”
Why critics still rank it high
The argument for placing Novatek at the top is not about money in anyone’s pocket. It is about policy exposure: a sanctioned Russian company, by Riddle’s account, seeking influence over a U.S. strategic energy asset while U.S. sanctions decisions on Russia were being made. In that view, the stakes outweigh those of a gift or a token.
The argument against is that, on today’s evidence, the most serious elements are allegations from one former executive, the president’s family has no reported stake, and the officials closest to the talks were, per the NYT, unaware of the Russian ties. Whether that changes depends on facts not yet public: how much Novatek money moved, what Treasury does with the OFAC license application Polar LNG disclosed on Oct. 23, and whether anyone in government knew more than has been reported. As of Oct. 26, Treasury had announced no action on that application.
Frequently Asked Questions
Is the Novatek-Alaska story Trump’s biggest scandal?
That is a judgment critics make, not a finding. Their case rests on the project’s size, Novatek’s sanctions status and the story’s overlap with Ukraine peace talks. The record so far shows no reported Trump family stake in Polar LNG, firm denials from every company, and no official finding of wrongdoing.
Does Trump or his family own part of Polar LNG?
No report reviewed for this article says so. Gentry Beach, who went to college with Donald Trump Jr., signed a separate Novatek agreement for his own Alaska plan, and former CEO Joel Riddle says Beach never invested in Polar LNG. A Trump Jr. spokesman said the two are no longer close.
Did Witkoff and Kushner know about Novatek’s role?
The New York Times reported that Vladimir Putin brought up the Alaska gas idea during their September Kremlin meeting, but that the paper saw no sign that either man was aware of the company’s Novatek links. A U.S. official told the Financial Times the idea was mentioned only in broad terms.
Was the Graham Act waiver issued to help Novatek?
No outlet has reported that. Trump waived the law’s Russia provisions on Oct. 16, a week before the Polar LNG stories, and the White House said enforcing them would hurt peace talks. Novatek says its Alaska interest is not tied to sanctions relief.
Has any agency found that sanctions were violated?
Not as of Oct. 26. Treasury told the Financial Times it would not discuss alleged violations but treats them as serious. No enforcement case or court filing involving the company had surfaced.
Sources
- Top executives quit $25 bn US gas project over alleged Russian control — Business Standard, October 25, 2026
- Whistleblower CEO quits over hidden Russian cash behind gas deal in Trump peace talks: NYT — Raw Story, October 24, 2026
- Former CEO: Russian Firm Backed Alaska Gas Venture — Newsmax (via Yahoo News), October 24, 2026
- Alaska LNG export terminal got funding from Russia’s sanctioned Novatek before US nod—FT report — ThePrint (Bloomberg wire), October 24, 2026
- Polar LNG Announces Leadership Change and Outlines Vision for Alaska North Slope Development — Polar LNG (company statement), October 23, 2026
- Implementing the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 — The White House (Executive Order 14436), October 16, 2026
- Trump signs order waiving Graham Act sanctions on Russia, drawing backlash from some lawmakers and Zelenskyy — ABC News, October 17, 2026
- US and Russian Officials Discussed Energy Deals Alongside Latest Ukraine Peace Talks — Reuters (via gCaptain), August 26, 2025
- Trump ally ties up with Russia’s Novatek on natural gas in Alaska, NYT reports — Reuters (via Internazionale), February 20, 2026
- Texas investor with Trump family ties pursues project to tap North Slope gas — Anchorage Daily News, March 3, 2026
- Secret Russian Funding Revealed in Trump-Putin Energy Scheme — The Daily Beast, October 24, 2026
- Air Force says former Qatari 747 will be ready to fly Trump as Air Force One this summer — Associated Press (via WTOP), May 2026
- Trump meme coin buyers vie for dinner with the president. Many appear to be overseas. — CBS News, October 14, 2026
- Russian oligarch says Donald Trump Jr. has paid him back for wedding celebration expenses — Associated Press (via WCAX), October 6, 2026
- US-Russia Ukraine talks expand to $20B Lukoil oil deal: Report — Türkiye Today, October 3, 2026
This article is news reporting and analysis based on the public sources listed above, as they stood on the dates shown. Where officials, lawmakers or analysts disagree, including on whether an action is lawful, their positions are attributed to them; Donald Trump Class Action is not a court and nothing here is legal advice. Facts in a developing story can change.