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Telenor over control of Vimpelcom lasted seven years in total. Fridman's relationship with BP throughout the TNK-BP years was contentious, and included blocking BP's 2011 planned partnership with Rosneft for Arctic oilfield exploration. Prior to the TNK-BP joint enterprise, in 1999 Fridman had thwarted BP by seizing BP's stake in the Siberian oil firm Sidanko, through bankruptcy maneuvers widely regarded as unfair practices. Fridman and Aven offered off most of their Russian government securities in early August 1998, previous to the ruble disaster of 17 August 1998, and emerged comparatively unhurt from the 1998 Russian financial crisis. Alfa Group flourished significantly after Fridman recruited Petr Aven, the former Minister of Overseas Financial Relations for the Russian Federation; in 1994 Aven turned president and chairman of Alfa-Financial institution. LetterOne's additional co-founders have been Petr Aven and Andrei Kosogov. He is one of the co-founders of Alfa-Group, a multinational Russian conglomerate. The corporate grew to turn into certainly one of the biggest personal banks in Russia. In 1991, he co-founded Alfa-Financial institution, considered one of the largest non-public banks in Russia. Alfa Group's later divisions embody Rosvodokanal, a personal No hot water emergency NY utility; AlfaStrakhovanie, a diversified insurance company; A1 Group, an funding company; and X5 Retail Group, a big chain of food retailers.

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