Iraq Petroleum Company
The first foreign buyer to purchase Hermitage paintings was Calouste Gulbenkian, the founder of the Iraq Petroleum Company, who began buying paintings in early 1930, trading them for oil with the Russians. These works later formed part of the Calouste Gulbenkian Museum, in Lisbon. However, the organizers of the sale were dissatisfied with the amounts they received from Gulbenkian, so they looked for other buyers.