Mandelson pressured over tycoon

Lord Mandelson says he has been "very open"

Lord Mandelson is facing renewed calls to explain dealings with Russian tycoon Oleg Deripaska after they fail to appear in his declaration of interests.

Liberal Democrat MP Norman Baker described the new business secretary's entry in the House of Lords' register as "threadbare and totally inadequate".

Lord Mandelson has insisted he has been open about visiting the billionaire's yacht while he was the EU trade chief.

But Mr Baker called for all the pair's meetings to be recorded publicly.

Lord Mandelson's first entry in the Lords' register since rejoining government last month lists his regular paid employment as his ministerial salary and a "transitional allowance" awarded him by Brussels as departing European commissioner.

He also entered details of his chairmanship of the Policy Network think tank, his honorary fellowship of St Catherine's College, Oxford, and his presidency of Hartlepool United Football Club - the town where he used to be MP.

'Location and purpose'

Mr Baker insisted more information needed to be made public.

"It is vital that we know who Lord Mandelson dealt with when he was European trade commissioner as he will be dealing with the same people in his role as business secretary," Mr Baker said.

He added that if Lord Mandelson was "genuinely committed to openness" he should publish his diary for his last year as European trade commissioner.

In these conversations with this gentleman, there was no discussion of EU trade business, no discussion about tariffs or anti-dumping duties Lord Mandelson

"This must include details of all meetings with Mr Oleg Deripaska and their location and purpose."

Earlier, Lord Mandelson insisted he had been "open" about his dealings with Mr Deripaska, an aluminium magnate, and did not face a conflict of interest at any stage.

The business secretary also said he had not discussed any issues relevant to the billionaire's commercial interests when he met him as EU trade commissioner.

His involvement with Mr Deripaska was "different" to that of shadow chancellor George Osborne, he argued.

Mr Osborne has said he made a mistake by meeting Mr Deripaska but has strongly denied allegations he tried to solicit a