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RusLetter.com https://rusletter.com The whole truth about the Russian business, oligarchs and officials https://rusletter.com/assets/img/logo.png RusLetter.com https://rusletter.com https://rusletter.com/assets/img/logo.png https://rusletter.com/assets/img/logo_s.png Thu, 10 Aug 2023 19:06:02 +0300000000 ru rusletter.com webmaster@rusletter.com noThe whole truth about the Russian business, oligarchs and officials Putin's oligarch Alisher Usmanov complained about the sanctions https://rusletter.com/articles/putins_oligarch_alisher_usmanov_complained_about_the_sanctions/ The founder and co-owner of the USM holding, Alisher Usmanov, said that he was hurt by the sanctions that Italy imposed against him after the Russian invasion of Ukraine. Business Wed, 09 Aug 2023 00:58:00 +0300 article

The damage to his reputation was enormous, the businessman said in an interview with Corriere della Sera. The sanctions against Usmanov concern not only the businessman himself, but his family members and companies where he is a shareholder, as well as employees and "tens of thousands of people who have been helped by charitable and development projects," the entrepreneur said. “Among them are the sick, the needy, and the artists. The damage to my reputation, on the other hand, is obvious: it is huge,” he said. When asked if it was right to start a special operation in Ukraine, Usmanov replied that he keeps “away from politics” and prefers to work in areas in which he can “unite, not divide people: sports, business, charity.” Usmanov expressed hope that the conflict would end soon and mutual trust would be restored. Related: Usmanov's press service linked his persecution in Germany with politics The real estate associated with Usmanov in Sardinia was frozen as a result of sanctions, but the entrepreneur “does not forget” his love for Italy. “I was hurt that Italy applied sanctions against me, friends don’t behave like that. But I understand that politics is politics. I do not forget the love for Italy, the songs that I sang as a child, football players, I even dreamed of fencing like an Italian. How will it end? I hope and believe that the law will prevail over political interests,” he said, stressing that the assets, with the exception of one villa, do not belong to him, but to trusts. After the start of Russia's special operation in Ukraine, the businessman fell under the sanctions of the United States, Great Britain and the European Union. The USM holding founded by him called the EU restrictions against the businessman unreasonable. In July 2022, The Wall Street Journal reported that four Russian businessmen, including Usmanov, are trying to challenge the imposition of sanctions against them by the European Union through the courts. According to previously cited data from Corriere della Sera, the total amount of confiscated assets of 28 Russians in Italy is 2.7 billion euros. Businessmen, among whom Usmanov was named, own villas, yachts, planes and companies in the country. Lawyers of 10 Russians are involved in the trials: according to the newspaper, only one of the initiated cases ended in a verdict.

Alexei Navalny's prison term increased https://rusletter.com/articles/alexei_navalnys_prison_term_increased/ The oppositionist was sentenced to 19 years in a special regime colony in the case of extremism. Society Sat, 05 Aug 2023 03:02:00 +0300 article

Judge of the Moscow City Court Andrey Suvorov at an offsite hearing in IK-6 in the Vladimir Region sentenced opposition leader Alexei Navalny to 19 years in a special regime colony, Interfax reports. The state prosecution requested that he be sentenced to 20 years in prison. Alexei Navalny was found guilty under six articles: on the creation of an extremist community, calls for extremism, the creation of an NPO that infringes on the rights of citizens, the financing of extremism, as well as on the involvement of minors in dangerous acts and on the rehabilitation of Nazism. In addition to the term, he was fined 850,000 rubles, Vedomosti reports. The Moscow City Court also sentenced Daniel Kholodny, former technical director of the Navalny Live YouTube channel, who has been in jail since March 2022, to 8 years in a penal colony. He was found guilty under the article on participation in extremist activities and its financing. The state prosecution requested that he be sentenced to 10 years in prison. The case was considered behind closed doors. According to Mediazona (recognized as a foreign agent), the parents of Alexei Navalny were not allowed into the hall. The Moscow City Court moved hearings on the case of extremism to a closed session in June, as the state prosecution warned of “possible provocations.” A criminal case on extremism against Alexei Navalny was initiated in the fall of 2022. The oppositionist’s associates explained that the episodes about the creation of extremist communities and the financing of extremism are connected with the work of the Anti-Corruption Foundation (recognized as extremist, banned in the Russian Federation, liquidated) and collecting donations for the work of organizations created by Alexei Navalny. The article on the involvement of minors in dangerous acts refers to protest actions organized by the FBK, in which "several people under 18 years old participated." Alexei Navalny was sentenced to imprisonment in February 2021. He was sentenced to two years and eight months in a penal colony in the Yves Rocher case (fraud; Art. 159 of the Criminal Code of the Russian Federation). In March 2022, he was found guilty in another case of fraud and insulting a judge (Article 297 of the Criminal Code of the Russian Federation), and he was sentenced to nine years in a strict regime colony (according to the totality of crimes).

Russian oligarchs Mikhelson, Gutseriev, Timchenko and Deripaska finance the war against Ukraine https://rusletter.com/articles/russian_oligarchs_mikhelson_gutseriev_timchenko_and_deripaska_finance_the_war_against_ukraine/ Oleg Deripaska, Leonid Mikhelson, Sergei Gordeev, Mikhail Gutseriev and other businessmen hire volunteers who go to war against Ukraine. At the same time, their companies, through which all this is done - Rusal, Novatek, PIK, Mospromstroy - happily avoid Western sanctions. Governance Tue, 01 Aug 2023 18:17:00 +0300 article

Falcons from Deripaska Igor Sergienko's call sign is Shershen. He came to fight in Ukraine as a Wagnerian back in 2014: “We were then called “they are not there,” he recalls in a conversation with Important Stories. Then he went to Syria - "participated in the capture of Palmyra", and in 2022 he returned to Ukraine, first as part of the Redut PMC, and now as a platoon commander in the Sokol battalion. Sokol is a volunteer battalion, but, like most PMCs, it is part of the Russian armed forces (part of the 108th air assault regiment). Therefore, Sergienko's salary comes from two sources: 200,000 rubles a month under the contract is paid by the Ministry of Defense, and another 100,000 are paid by the sponsor ("the military-industrial complex company," as the advertisement says). “First, we employ [in our company] the day before the conclusion of the contract [with the Ministry of Defense], and then we suspend the employment contract, and we have a basis for paying bonuses to our employee who went to the SVO. Such a scheme, ”said the recruiter, who introduced himself as Viktor Fedorovich (the journalist from Important Stories introduced himself as a recruit). What kind of sponsor is this, from which, as Shershen put it, "additional capital investments" are coming, he does not remember, and Viktor Fedorovich does not say. But the phone numbers that Sokol indicates in his telegram for those who want to sign up for the war belong to Rusal Management. This is a 100% subsidiary of Rusal, one of the largest companies in Russia and one of the largest aluminum producers in the world, its main owner is Oleg Deripaska. Rusal Management, whose phones receive calls from volunteers, manages Rusal (one might say, is its general director). The number that Viktor Fedorovich gave to the recruit of "Important Stories" was recorded on it to resolve issues of further employment. In fact, it’s not even a secret for our own people that mercenaries are registered in Deripaska’s company. They discuss it in chats: for example, a Sokol volunteer with the call sign Kyiv wrote that “Deripaska arranges the personnel of the Sokol in his private security companies” (private security companies). "Important stories" found confirmation of this scheme. So, Igor Sergienko (Shershen) since October 2022 - namely, then, according to him, he joined the Sokol - has been working in the private security company Ruslan. Ruslan’s bank statement, which Important Stories has read, explicitly states that the company maintains mercenaries: “Free payment of funds to a military service under a contract” - this purpose of payment is opposite a number of names, including Sergienko. Private security company "Ruslan" is firmly connected with Deripaska - last year, two companies affiliated with the businessman were his only clients, from which he received about 90 million rubles. Scrolling through the chats of Sokol, Important Stories found at least two more mercenaries who were employed by Deripaska. One is Aleksey Kupriyev, callsign Kapa, in the telegram he introduces himself as the commander of the Sokol-2 battalion. Capa has also been fighting since 2014, here is a video where he talks about it. The other is Vladislav Olenich. Kupriyev and Olenich are employed by Aeroterminal, a Krasnodar-based company that builds and repairs airports in Krasnodar, Anapa, and Krasnoyarsk. 70% of the company belongs to Aerodinamika, founded by Deripaska (before the imposition of sanctions against the businessman, it was called Basel Aero). Aerodinamika operates airports in Sochi, Krasnodar and Anapa. Kupriyev and Olenich refused to talk to Important Stories. Deripaska himself, as already mentioned, is under sanctions. But Rusal, whose managers are now recruiting mercenaries for the war with Ukraine, was exempted from sanctions after Deripaska reduced his stake in the company below the control. In July, the European Aluminum Industry Association European Aluminum noted in its memorandum that sanctions against Rusal should be avoided, as it is highly integrated into the global economy. Rusal told Important Stories that the company has nothing to do with the activities of volunteer structures and knows nothing about the use of its telephone numbers by third parties. Guards from Michelson and Timchenko The relatives of Igor Kozhushko, a native of Yamal, did not know that he was going to Ukraine - he called them already from the training center in Murmansk. It was September 28 last year; already on November 4, a stranger wrote to his sister that Kozhushko had died in the war. The family managed to find out that Kozhushko was leaving to fight along with Novatek employees. He ended up in the 7th Company of the infamous 200th Motorized Rifle Brigade, which, according to The Washington Post, has lost 500 men in just three months since the start of the war. Having lost so many soldiers, the brigade was in a deplorable state - it needed new recruits. Some of them were volunteers from Novatek. This company is the second natural gas producer in Russia after Gazprom. Its main owners are billionaires Leonid Mikhelson and a friend of Vladimir Putin, Gennady Timchenko, both under sanctions. Novatek was only partially affected by the sanctions - the US authorities imposed a ban on attracting any financing for the company for a period of more than 14 days (due to which there were difficulties with financing the Yamal LNG project). However, in 2022, Novatek only increased the supply of liquefied gas to Europe and, according to Reuters calculations, may soon overtake Gazprom in this indicator. In Novatek, mercenaries are arranged like in Rusal. One of the volunteers shared the phone number of his Novatek recruiter with Important Stories. The number belongs to Andrei Vasilyev, the general director of the private security company Saturn-1. This PSC was founded by Novatek. Although now it does not formally belong to him, his business is completely dependent on the structures of Leonid Mikhelson: in 2022 - early 2023, the private security company received from them, including from the fashionable Moscow cultural center GES-2, almost all of its revenue - almost a billion rubles. When the correspondent of "Important stories", introducing himself as a volunteer, asked Vasilyev whether "it is possible to get a job through Novatek", he answered in the affirmative. And he clarified that the payments go through the Courage fund: 200 thousand rubles a month in addition to payments from the Ministry of Defense. There is only one charitable foundation with this name in Russia, it was registered in September 2022. Almost all the donations that the fund received in the first three months of its existence came from Novatek - more than 200 million rubles. "Important stories" got acquainted with the financial documents, from which it follows that the deceased Igor Kozhushko worked (actually worked, not just listed) in the Bastion private security company owned by Saturn, which guards Novatek's fields. And he received payments for military service from the Courage Foundation - as charitable assistance. Kozhushko's colleague from Bastion, who also went to war, praises the Courage Fund - they pay well there: 300,000 a month in addition to the 200,000 salary from the Ministry of Defense. According to him, his fellow security guards were recruited right at the workplace - on the watch, and representatives of Novatek and Bastion were directly involved in this. He himself was on vacation at that time - he, along with other vacationers, was invited to come to Moscow “for a conversation”: “No one knew what about. But they said turnout must be 100%. At the "conversation" the guards were offered to go to fight. Novatek did not answer the questions of "Important stories", as well as the general director of "Saturn" Andrey Vasiliev. Builders from Gordeev and Gutseriev “The largest federal company invites volunteers to support military service under a contract,” such an announcement on Avito was given by a company with an unpronounceable, but purely peaceful name, Inzhteploprogress. The conditions are about the same everywhere: 400 thousand rubles for lifting, then - 100 thousand rubles a month from the company and 200 thousand rubles from the Ministry of Defense. Inzhteploprogress itself does not in any way pull on the “largest federal company”, but its co-owner, the largest developer in Russia, PIK, which belongs to billionaire Sergey Gordeev, fully corresponds to this definition. Another company of the PIK group, General Contractor - MFS, also published such announcements. In addition, she was looking for an "agent for the recruitment of volunteers for the contract" ("the vacancy consists in finding and accompanying to the point of selection of a volunteer for the contract"). Salary - 15 thousand rubles "for one candidate." "Important Stories" called to apply for this vacancy, but it was too late: the employee had already been found. PIK did not answer questions from Important Stories. PIK is not the only developer who needs soldiers of fortune. “Contracted serviceman to the NVO zone” - Mospromstroy is looking for such an employee, businessman Mikhail Gutseriev. Mospromstroy is smaller than PIK, but older and more prestigious: it built the Cathedral of Christ the Savior, reconstructed famous Moscow museums and theaters; The company's motto is "We create the silhouette of Moscow." Mospromstroy's pay for mercenaries is less - only 200 thousand, but the salary is larger - 150 thousand (naturally, in addition to payments from the Ministry of Defense). The company did not respond to questions from Important Stories. Homeland is more expensive Mercenaries are willing to pay more and more. For example, in Yakutia they already offer a lift of 800 thousand rubles: 300 thousand from the sponsoring company, 300 thousand from the region and 200 thousand from the Ministry of Defense. There is nothing fundamentally new in this scheme. "Important stories" told how the Moscow authorities force companies to look for soldiers of fortune, fictitiously employ them and send them to the front. "Mosgaz", "Moscow Metro", "Gormost", "Mosvodokanal" could not refuse their native mayor's office. The same thing happened at the federal level. Evgeny Prigozhin in an interview mentioned PMCs associated with Gazprom. The Uranus battalion reported that it was supported by Roskosmos. The Nestka publication has discovered a company that recruits volunteers for Russian Railways. All these were state-owned companies. As it turned out, private ones are no different.

UK government trains Russian oligarchs Aven and Fridman https://rusletter.com/articles/uk_government_trains_russian_oligarchs_aven_and_fridman/ The British authorities allowed Friedman and Aven to receive £1 million a year. Business Thu, 27 Jul 2023 22:15:00 +0300 article

After the imposition of sanctions against them, the co-owners of Alfa Group and LetterOne, Mikhail Fridman and Pyotr Aven, who were blocked in the UK, complained to journalists that they did not even have money to pay the driver or cleaning lady. Although their attempts to prove that they are not “pro-Kremlin oligarchs” have not yet yielded results, life and pay for them has become noticeably easier. In order for a sanctioned person to receive blocked funds, the UK government issues a special license. In some cases, it allowed the oligarchs to receive more than $1 million a year for daily expenses, writes The New York Times (NYT). During the first year of the war in Ukraine, Friedman was allowed to pay for the work of 19 people, including drivers, cleaners, private chefs and other people doing various tasks. The amount of payments for 10 months amounted to 300,000 pounds ($385,000). In addition, Friedman receives about £7,000 a month for the "basic needs" of the family. Aven's monthly allowance is £60,000. Most of these funds go to a security company owned by financial manager Avena. The manager was under investigation on suspicion of helping Aven evade sanctions, court documents show. It is not known whether the government conducted a review before approving such payments, the NYT notes. In total, the Ministry of Finance allowed Aven to spend more than 1 million pounds ($1.28 million). Friedman and Aven are not the only Russians sanctioned by the British government, but some of the restrictions were subsequently quietly lifted, the newspaper notes. Last year alone, the Ministry of Finance issued at least 82 licenses, many are also pending.

Russian IT developer jailed for treason https://rusletter.com/articles/russian_it_developer_jailed_for_treason/ Group-IB founder Ilya Sachkov was sentenced to 14 years in a strict regime colony. Internet Wed, 26 Jul 2023 18:27:00 +0300 article

On July 26, the Moscow City Court sentenced Group-IB founder Ilya Sachkov to 14 years in a strict regime colony and a fine of 500,000 rubles. in the case of treason (Article 275 of the Criminal Code of the Russian Federation). He pleaded not guilty. The state prosecution requested that he be sentenced to 18 years in prison. According to the court decision, one day in the pre-trial detention center for Sachkov will be counted as one day of the term in the colony. Lawyer Sergei Afanasiev told RIA Novosti that he would appeal the verdict. The defense also promised to appeal to Russian President Vladimir Putin. What exactly the court found Sachkov guilty of is unknown. Cases of treason are classified. The Moscow City Court held sessions behind closed doors. According to lawyer Sachkov, the process took place at a "sprint pace" - in 10 working days. During the debate, the representative of the Prosecutor General's Office, Milana Digaeva, said that Sachkov's guilt had been fully proven. After the start of the special operation, the Russian division of Group-IP was allocated a separate company F.A.C.C.T. After the decision of the court became known, F.A.C.C.T. published a message stating that Sachkov continues to work on projects while in custody. On July 26, some employees of the company came to support Sachkov in court. They were wearing T-shirts with his picture on them. Ilya Sachkov was arrested on September 29, 2021. The FSB investigator claimed that Sachkov passed on information constituting a state secret to foreign special services. The defense petition, filed at the stage of preliminary hearings in court, stated that the key witness for the prosecution was an “interested person” - ex-head of the 2nd department of the FSB Information Security Center Sergei Mikhailov (serving a 22-year sentence for treason). In July, a video recorded in June 2021 appeared on Ilya Sachkov’s social networks, where he claims that “a serious provocation is being prepared” against him. After his arrest, he said that a criminal case against him had been initiated in favor of private individuals who were "strongly interfered" by his professional activities. On July 24, he called the possible verdict a victory for the American intelligence services and a planned attack on the Russian IT sector. Group-IB creates software in the field of information security, cooperates with law enforcement agencies in the investigation of cyber incidents, and also provides copyright protection services on the Internet. Group-IB solutions are used by Sberbank, Alfa-Bank, MegaFon, Rostec and other companies. The structure also provides services in the field of information security and is an official partner of Interpol and Europol, among its clients are the largest Russian and international companies.

Putin's bankers earn on the war https://rusletter.com/articles/putins_bankers_earn_on_the_war/ Russian banks earned a record 1.7 trillion rubles in the first half of the year. Business Tue, 25 Jul 2023 12:52:00 +0300 article

The Central Bank reported that the profit of Russian banks for the first half of 2023 amounted to 1.7 trillion rubles, which was an absolute record. This is higher than their profit for the whole of 2020 (1.6 trillion rubles) and commensurate with their profit for 2019 (1.7 trillion rubles). The record for the head of profit was set in 2021 - 2.36 trillion rubles. As follows from the presentation of the Central Bank (Kommersant has it), in June the net profit of the banking sector amounted to 314 billion rubles. This is 15% higher than the result of May (273 billion rubles). About half of the June profit came from foreign exchange revaluation (RUB 153 billion) against the backdrop of the weakening ruble, which fell by 7% over the month. Profits were also supported by income from securities (about 30 billion rubles) and dividends from subsidiaries (about 33 billion rubles). At the same time, the main profit decreased from 250 billion rubles. in May up to 125 billion rubles. in June. The number of profitable banks rose to 245 in June (75% of the total) from 237 in May (73%). The head of VTB, Andrei Kostin, at a meeting with Vladimir Putin in July, said that the Russian banking sector was working reliably, and Western sanctions had destroyed the world trade system. VTB itself expects about 400 billion rubles of net profit for the year. In June, the Central Bank resumed the disclosure of financial statements of credit institutions.

Russian IT tycoon dies at 40 https://rusletter.com/articles/russian_it_tycoon_dies_at_40/ On Saturday, July 22, at the age of 40, the founder of the esports organization ESforce and the head of ICS Holding, a well-known technology entrepreneur Anton Cherepennikov, died suddenly. Business Tue, 25 Jul 2023 12:49:00 +0300 article

The preliminary cause of death of a businessman in ICS Holding was called cardiac arrest. What kind of business did Cherepennikov manage to build and how did he remember the industry? eSports of the highest achievements Anton Cherepennikov was born in Moscow on May 7, 1983. He studied at the Bauman Moscow State Technical University at the Department of Information Security, but did not finish his studies there. Cherepennikov received his higher education a little later: in 2005 he graduated from the Moscow State University of Civil Engineering. Since childhood, he was fond of video games and participated in professional eSports tournaments. This passion of his later grew into a big business. But before, back in the late 2000s, Anton Cherepennikov managed to go into business in the field of SORM (“system of operational-search activities”), which became his second passion and life's work. In 2005, he opened the telecom company Za Telekom, which imported Blackberry phones and also installed secure wireless access to e-mail and corporate resources. In parallel, Za Telekom developed software to meet the requirements of government agencies, but the entrepreneur preferred not to expand on this topic. In April 2011, Cherepennikov, himself an active gamer and fan of computer games, revived the Virtus.pro cybersport company on the basis of the Iron Will club: by that time, the club had taken a break and froze all the rosters. “Back in the late 1990s, he participated in Quake tournaments, and a little later he took up the management of such teams as team1 and forZe,” says his profile on the profile resource Cybersport.ru. — As a player, Anton played for several months in Iron Will side by side with Virtus.pro players and has bronze medals from WCG Russia. In 2010, together with Alexei Kolesnikov, he revived Virtus.pro, first as a Counter-Strike 1.6 team, and later as a multi-gaming organization. A few years later, in 2015, together with the owner of the Navi club, Alexander Kokhanovsky, Cherepennikov created the ESforce esports holding, which also includes the Virtus.pro club, on the basis of which ESforce was formed. A little earlier, the USM holding of billionaire Alisher Usmanov became interested in the project, which in the same 2015 invested $100 million in Virtus.pro. In early 2018, Alisher Usmanov’s Mail.Ru Group (now VK) bought ESforce for $100 million. In 2015, Anton Cherepennikov acquired Malvin Systems and merged it with Osnova Lab into the Citadel group, which developed software in the field of information security and SORM. Against the background of the entry into force of the Yarovaya Law, Anton Cherepennikov's Citadel occupied from 60% to 80% of the wiretapping market in a number of projects. In 2016, he created the Forpost company, which was engaged in system integration, and also acquired MFI Soft - the deal amounted to more than 10 billion rubles, the money for it was lent to Cherepennikov by USM Group structures. In 2017, Cherepennikov opened the largest esports stadium in Europe, Yota Arena, in Moscow. X task In 2018, Cherepennikov founded ICS Holding, combining his assets in the field of information technology: Citadel SORM developer, Forpost system integrator, Peter-Service billing system developer, Kryptonit information security solutions provider and other structures. Now ICS Holding unites companies that are engaged, among other things, in the supply of IT information security systems for the implementation of the Yarovaya Law, as well as scientific research, production and investment. Among them is also the manufacturer of servers "KNS Group" (brand Yadro), the developer of the satellite constellation "Bureau 1440", etc. In 2020, Alisher Usmanov's USM acquired 100% of ICS Holding, and Cherepennikov received a 10% stake in USM Telecom, which, in addition to IT assets, includes Megafon (the businessman also served on the board of directors of Megafon). From 2020-2022 served as COO of USM Telecom. In March 2022, after Alisher Usmanov fell under sanctions, USM closed the deal to resell ICS Holding and its assets to Cherepennikov. At the end of February 2023, Cherepennikov, together with ICS Holding, was included in the US sanctions list. In July, it became known that the analytical company Trust Technologies (the former Russian division of PwC) estimated the investment value of ICS Holding at about 300 billion rubles. Holding debut bond offering and possible initial public offering (IPO) in 2024. Cherepennikov was included in the Forbes rating of Russians with the highest dividend income for 2022, the entrepreneur ranked 22nd in it. At the end of 2019, he took 4th place in the list of the most influential esports entrepreneurs in the post-Soviet space according to Forbes. In December 2021, ICS Holding opened the Museum of Cryptography, the first scientific and technological museum in Russia dedicated to mathematics, cryptography and new technologies. “The exposition tells about the past, present and future of cryptography, about the history of the development of communication between people from ancient times to the present,” follows from the description on the ICS Holding website. Cherepennikov was ranked 22nd in the Forbes ranking of the 50 Russians with the highest dividend income for 2022. Its dividend income for 2022, according to Forbes, amounted to 13.3 billion rubles. According to the Base, the body of 40-year-old Cherepennikov was found at night from Friday to Saturday in his office on Michurinsky Prospekt. The preliminary cause of death is cardiac arrest. What co-workers say “A talented young businessman, very clear and knowledgeable. He understood the prospects of both his business and competitors well, - Alexander Kalinin, co-founder and general designer of SMI-Holding JSC, told Forbes. “Achieved a lot in a short period of time.” Cherepennikov's colleagues interviewed by Forbes do not hide the fact that his death was a complete surprise, and for the industry - a real loss. “Anton was very bright, strong and courageous. Of course, he was one of the locomotives of our industry, for which this is a huge loss. For the entire market, for the country,” says Aleksey Kalinin, Chairman of the Board of Directors of Aquarius Group of Companies. - The most sincere condolences to Anton's family, relatives, friends, team. Irreparable loss. It was impossible to imagine such a thing." In the electronics industry, Anton Cherepennikov's company has repeatedly raised the stakes in the competition for leadership and the scale of projects by an order of magnitude, says Ivan Pokrovsky, executive director of the Association of Electronics Developers and Manufacturers (ARPE). According to him, this influenced many other major players and investors, motivated them, greatly cheered up the entire industry. “Anton is a super-energetic, super-ambitious, unrealistically brave entrepreneur who was able to gather a unique team of engineers and developers around him,” said Maksut Shadayev, head of the Ministry of Digital Development. According to the minister, under the leadership of Cherepennikov, ICS Holding became one of the largest technology companies in the country: “Anton created broadband access satellites (broadband access. - Forbes) for low orbit, developed base stations, built a production of Russian servers, data storage systems and tablets that is unique in scale. It was thanks to Anton’s active position and the success of his company that the industry grew rapidly.” Anton Cherepennikov became one of those people who determined the main trends in the IT industry of the new time, worked on real import substitution and import independence, says Aleksey Melnikov, managing partner of F + tech-Marvel Group. Cherepennikov was a "visionary and strategist" who created a large efficient business, assembled a bright strong team capable of solving problems of varying complexity, Melnikov continues: "For all the time that we have been cooperating and competing in the same market with ICS Holding companies, he has always given the impression of a principled, decent and decisive person."

Swedish Essity sold its business in Russia https://rusletter.com/articles/swedish_essity_sold_its_business_in_russia/ The company produced Zewa toilet paper, Libresse feminine pads, and Libero diapers. Business Tue, 18 Jul 2023 12:46:00 +0300 article

The Swedish company Essity (brands of Zewa toilet paper, Libero diapers and Libresse feminine hygiene products) sold its business to New Technologies LLC, the main owner of which is Igor Shilov, according to a message on the Essity website “The company <...> completed the sale of its assets in Russia at a purchase price of approximately 1.2 billion Swedish kronor (about 10.5 billion rubles at the rate of the Central Bank of Russia at the time of publication. - RBC) for cash and without debt. Thus, Essity left Russia,” the message says. The company began exiting the Russian business in April last year. During this time, its assets in the country have depreciated "by about 1.7 billion Swedish kronor" (about 15 billion rubles). Over the past year, Essity's sales in Russia amounted to only "2% of total consolidated net sales." In early June, the company announced that the country's authorities had approved a deal to sell Essity's assets, but neither the buyer nor the amount was named. Igor Shilov is a former shareholder of Nidan and co-owner of the European Medical Center (EMC). According to RBC Company, its share in New Technologies is 94.5%, the rest of the shares belong to CEO Andrei Yanovsky. The company mainly conducts "headquarters activities". Essity has been operating in Russia since 1994 and owned factories in Sovetsk and Venev (Tula region), Svetogorsk (Leningrad region). Essity produced 6.986 billion toilet paper rolls last year. This is 1.2 billion, or 21.06%, more than in 2021, according to data from Roslesinforge. Analysts previously estimated the share of all productions of the Swedish company in Russia within 23% of the total output of toilet paper.

Vagit Alekperov earned the most https://rusletter.com/articles/vagit_alekperov_earned_the_most/ Vagit Alekperov topped the ranking of the richest Russians in terms of dividends for 2022. Business Tue, 11 Jul 2023 00:10:00 +0300 article

Forbes has released a ranking of the 50 richest Russians by dividends for 2022. The rating was headed by the co-owner of LUKOIL Vagit Alekperov, whose dividend income the magazine estimated at 156 billion rubles. The total income of the rating participants is 1.39 trillion rubles. The top 10 included:      shareholder of LUKOIL Vagit Alekperov (income 155.7 billion rubles),      President and co-owner of Norilsk Nickel Vladimir Potanin (148.6 billion rubles),      founder of the trading company XTX Markets Alexander Gerko (141 billion rubles),      co-owner of Novatek Leonid Mikhelson (104.1 billion rubles),      co-owner of Sibur Gennady Timchenko (82.9 billion rubles),      co-owner of Phosagro Andrey Guryev (81 billion rubles),      founder and main shareholder of USM Alisher Usmanov (64.7 billion rubles),      former vice president of LUKOIL Leonid Fedun (51.2 billion rubles),      owner of the Ural-Siberian Metallurgical Company (now part of Etalon JSC) Yuri Antipov (43.2 billion rubles),      State Duma deputy, shareholder of the USM holding Andrey Skoch (39.9 billion rubles). Forbes reported that in 2022 the wealth of 13 Russian billionaires decreased, in total they lost $8.5 billion. According to the publication, Pavel Durov suffered the biggest loss — $3.6 billion.

UMMC left for Uzbekistan https://rusletter.com/articles/ummc_left_for_uzbekistan/ The son of the former Foreign Minister of Uzbekistan, Daniyar Kamilov, became the new beneficial owner of UMMC. Business Sun, 09 Jul 2023 15:11:00 +0300 article

The Ural Mining and Metallurgical Company (UMMC), founded by billionaire Iskander Makhmudov and partners, named Daniyar Kamilov, son of the former foreign minister of Uzbekistan, as its beneficial owner in a 2022 report. He is also now a shareholder of Kuzbassrazrezugol and the Central Suburban Passenger Company, Russia's largest suburban rail carrier. On March 14, 2022, a laconic message appeared on the website of the Ural Mining and Metallurgical Company: “The Ural Mining and Metallurgical Company (OJSC UMMC) announces changes in the corporate structure. I.K. Makhmudov and A.R. Bokarev ceased to be the controlling beneficiaries of UMMC JSC, Kuzbassrazrezugol Management Company JSC, Vostochny Port JSC, Rosterminalugol JSC, and also left the boards of directors of these companies. A month later, Makhmudov and Bokarev were included in the UK sanctions list. A few months later, in July 2022, Andrey Kozitsyn left the post of UMMC CEO. The decision was made "in connection with the possible imposition in the future of personal sanctions by foreign states and is aimed at eliminating the possible indirect application of sanctions against the companies of the UMMC group." At the end of July 2022, the European Union included Kozitsyn in its sanctions list. Until 2022, Makhmudov, Kozitsyn and Bokarev controlled the Cypriot company Selmareco Limited, which owned an 85% stake in UMMC. In turn, UMMC owned a 52.7% stake in the Kuzbassrazrezugol coal company (according to the results of 2022, it produced more than 44 million tons of coal, 2nd place in Russia). Makhmudov, Kozitsyn and Bokarev held another 35% stake in Kuzbassrazrezugol through other Cypriot offshore companies. Another Cypriot holding, Starlion Limited, controlled the Vostochny Port coal terminals in the Far East and Rosterminalugol in the Baltic. The effective total share of Makhmudov, Kozitsyn and Bokarev in this business was about 77%. At the end of 2022, the total revenue of the main assets associated with the UMMC (the UMMC itself, Kuzbassrazrezugol, the logistics company Ugol-Trans, Rosterminalugol and Vostochny Port) amounted to almost 890 billion rubles, the total net profit exceeded 190 billion rubles. In a report for 2022, UMMC (available to Forbes) reported that Kamilov Daniyar Abdulazizovich is recognized as its beneficial owner. Daniyar Kamilov is the son of Abdulaziz Kamilov, the former Foreign Minister of Uzbekistan, appointed in 2022 as Deputy Secretary of the Security Council under the President of Uzbekistan. Kamilov Jr. was born in 1972, graduated from MGIMO and Moscow State University. He worked as the first vice-president of Gazprombank and was a member of the boards of directors of the OMZ machine-building holding owned by the bank and its subsidiaries. In 2018, the Kommersant newspaper wrote that persons associated with Daniyar Kamilov could receive shares in Uzbekugol JSC, which produces about 4 million tons of coal per year in Uzbekistan, under management. In February 2022, one of Kamilov's companies acquired the largest distillery in Uzbekistan. Former UMMC beneficiary Iskander Makhmudov, like Kamilov, was born in Uzbekistan (then the Uzbek SSR), in Bukhara, and graduated from Tashkent State University. New UMMC shareholder with Aviamotornaya In addition, UMMC disclosed in its annual report that the owner of 85% of its shares instead of the Cypriot Selmareco Limited was the Russian JSC BusinessGlobus Company. The place of registration of the new UMMC shareholder is located in the industrial area in the east of Moscow, a 15-minute walk from the Aviamotornaya metro station. Next to the office building there is a diesel particulate filter washer and a dining room “Time for Lunch” with a review on Yandex Maps: “You won’t leave hungry. Cleanliness is average. The killer mixture of food smells stays on clothes for a day or two. In the report for 2019, BusinessGlobus Company reported that legal entities “which have a significant impact on society by owning more than 20% and not more than 50%”, that is, its shareholders, are Violan LLC and Soimonov LLC . According to the Unified State Register of Legal Entities, several dozen Violan LLCs are registered in Russia, one of them belongs to Iskander Makhmudov. Soimonov LLC has only one registered, while the company was liquidated in March 2022. The owner of the company, according to SPARK-Interfax, in 2020-2021 was Pavel Savchenko, at the same time he was the CEO of the BusinessGlobus Company. Now Savchenko is the manager of TIGR-L LLC, its co-owners in the proportion of 70/30 are Iskander Makhmudov and Andrey Bokarev, respectively. The latest disclosed report for 2022 of the BusinessGlobus Company states that it does not have individuals and legal entities that control more than 20% of the shares. That is, logically - and the UMMC does not have beneficial owners who control more than 20% of the shares. Why then did UMMC “recognize” Daniyar Kamilov as the beneficial owner? “The beneficial owner may not have a significant stake in the share capital (25%+ as a general rule),” explains Dmitry Magonya, managing partner at Art De Lex law firm. “But it will be so with a smaller share, if he somehow has the ability to control the actions of the company (Article 3 of Federal Law No. 115-FZ “On Counteracting the Legalization (Laundering) of Proceeds from Crime and the Financing of Terrorism”).” The UMMC report states that Daniyar Kamilov was a member of the company's board of directors as of December 31, 2022. A consultant who previously worked for one of the Big Four companies, on condition of anonymity, told Forbes that receiving a small stake in the UMMC shareholder and joining the board of directors are, in principle, sufficient conditions for “recognition” as a beneficiary. For example, the Transmashholding group associated with Makhmudov and Bokarev named Kirill Lipa in its report for 2021 as the “ultimate controlling party”, that is, the beneficiary. Lipa is the general director of Transmashholding, and his effective share in the Cyprus-based Transmashholding Limited, the parent company of the Transmashholding group, was 13.9%. At the same time, the effective shares of Makhmudov and Bokarev at that time in Transmashholding were larger - about 20%, Bokarev also served as president of the company. The UMMC did not respond to a request from Forbes. Not only metallurgy Daniyar Kamilov became not only the "beneficial owner" of UMMC, but also a junior partner of Iskander Makhmudov and Andrey Bokarev in other businesses. For example, the coal company Kuzbassrazrezugol, whose revenue in 2022 exceeded 431 billion rubles, disclosed a new shareholder structure. If earlier UMMC owned 52.7% of the shares, and almost all the remaining shares were distributed among four Cypriot offshore companies, now the majority of minority stakes in Kuzbassrazrezugol belong to Russian shareholders. The owner of 8.6% of the shares of the coal company, at least at the end of 2022, when the register of shareholders was compiled, was Voliron LLC. Only one company with this name is registered in Russia. It is controlled by Daniyar Kamilov. Voliron LLC is located at the same address as BusinessGlobus Company JSC (as well as 647 other companies, according to SPARK-Interfax). From April to June 2022, the already mentioned Pavel Savchenko, the manager of one of the companies of Makhmudov and Bokarev, was the CEO of Voliron LLC. Another Kamilov company, KTS LLC, received shares in several businesses associated with Makhmudov and Bokarev in 2022. For example, Kamilov's company owns 10% in Holding Transcomponent LLC. This is a group that produces equipment and components for transport engineering. It also includes PK Transport Systems LLC, which produces modern low-floor trams. Other owners of Holding Transcomponent LLC are Iskander Makhmudov's Violan (20%) and Andrey Bokarev's Elarium (20%). Also, Kamilov’s company now owns 10% of LLC MPK, which owns 56.5% of the shares of the Central Suburban Passenger Company, the largest suburban rail carrier operating at the Moscow transport hub and nine regions of Central Russia (more than 541 million passengers in 2022) . The carrier's revenue in 2022 amounted to almost 63 billion rubles. Makhmudov's Violan and Bokarev's Elarium holdings each own 20% of MPK LLC. In addition, KTS LLC indirectly owns shares in the Salair transport and logistics operator and other companies. Forbes was unable to contact Daniyar Kamilov.

Journalist Elena Milashina had her fingers broken and her hair shaved in Chechnya https://rusletter.com/articles/journalist_elena_milashina_had_her_fingers_broken_and_her_hair_shaved_in_chechnya/ In Chechnya, Novaya Gazeta journalist Yelena Milashina and lawyer Alexander Nemov were attacked, both seriously beaten. Crime Tue, 04 Jul 2023 16:35:00 +0300 article

In the Chechen Republic, unidentified persons attacked Novaya Gazeta journalist Yelena Milashina and lawyer Alexander Nemov, the Novaya Gazeta editorial office reported. They flew to Grozny for the announcement of the verdict of Zarema Musaeva, the wife of Saidi Yangulbaev, a former judge of the Republic's Supreme Court. Ombudsman Tatyana Moskalkova said that she had contacted the investigative department of the Investigative Committee of Russia (TFR) and the prosecutor's office in Chechnya because of the attack. As Mr. Nemov told the human rights organization "Team Against Torture" (CPT) (formerly the Committee against Torture, was entered by the Ministry of Justice into the register of foreign agents and self-liquidated), on the way from the airport to Grozny, their car was blocked by three cars with armed people. The editors of Novaya Gazeta write that unknown people destroyed the equipment and documents belonging to the journalist and the lawyer. The CPT informs that Ms. Milashina and Mr. Nemov are currently in the Emergency Hospital in Grozny. According to human rights activists, they were diagnosed with multiple bruises. Elena Milashina has several broken fingers. Later, the head of the Anti-Torture Team, Sergei Babinets, said that Ms. Milashina and Mr. Nemov had been severely beaten. Alexander Nemov has difficulty moving and uses a wheelchair. Mansur Soltaev, Commissioner for Human Rights of the Chechen Republic, has now arrived at the hospital to see the victims. “Both were severely beaten by people in black balaclavas who threatened them, including with firearms. Alexander Nemov, as we understand it, was hit with something sharp, possibly a knife, in the leg. He got stitches. They were both kicked, punched, and beaten with polypropylene pipes. We reminded them of all their activity, the courts, the trials they went to, about which Elena Milashina wrote,” said Mr. Babinets in a video message on Telegram. In January 2022, Zarema Musayeva's family stated that she had been kidnapped in Nizhny Novgorod. The Chechen Interior Ministry explained that she was forcibly brought in for questioning as a witness in a fraud case. At the same time, the department then stated that Zarema Musaeva attacked a policeman. On June 15, the state prosecution asked that Ms. Musayeva be sentenced to five and a half years in a penal colony. She does not admit guilt. The woman has been in jail for over a year. Elena Milashina is a special correspondent for Novaya Gazeta. Conducted investigations in the field of drug trafficking, the fight against terrorism and the murders of journalists. She, in particular, was investigating the murder of Novaya Gazeta columnist Anna Politkovskaya. In 2006, an assassination attempt was made on Elena Milashina in Beslan. In January 2022, the head of Chechnya, Ramzan Kadyrov, called her a terrorist and called on law enforcement to detain her. Last February, Novaya Gazeta reported that Ms. Milashina would leave Russia on a business trip "due to numerous personal threats."

Ingka Group wants to sell all real estate in Russia https://rusletter.com/articles/ingka_group_wants_to_sell_all_real_estate_in_russia/ The Swedish Ingka Group, which owns the IKEA chain and Mega shopping centers, is looking for buyers for its real estate in Russia. Business Fri, 17 Feb 2023 23:31:00 +0300 article

According to them, the group is looking for a buyer for the entire portfolio of its properties. Its area is estimated at 2.3 million square meters. m, rental area - 1.8 million square meters. m. As the interlocutors of the publication clarified, negotiations are already underway with at least two potential buyers, but they are in the initial stage. Whom it is, is not specified. RBC's source in the real estate market noted that the final corporate decision on the sale of assets has not yet been made. Ingka's real estate portfolio in Russia includes 14 Mega shopping centers, hypermarkets where IKEA stores operated, as well as sites where new shopping centers were planned to be built. The press service of Ingka Centers (a division of the Ingka Group that manages shopping centers) said they do not comment on market rumors. IKEA closed its stores in Russia in March 2022. In mid-June, IKEA announced the sale of four of its factories in Russia, and also announced a reduction in business in the country. The online sale ended on August 15th. The next day it became known that IKEA was liquidating the Russian subsidiary. A TASS source said that IKEA expects to return to Russia within two years. In February, a government commission approved the sale of three out of four Russian IKEA factories.

Billionaire Viktor Kharitonin is buying up German airports https://rusletter.com/articles/billionaire_viktor_kharitonin_is_buying_up_german_airports/ The aggression of the Russian Federation against Ukraine and sanctions against Russian business do not prevent the scandalous oligarch from buying Frankfurt-Hahn Airport. Business Sun, 05 Feb 2023 02:21:00 +0300 article

NR Holding acquired Frankfurt-Hahn Airport, which went bankrupt in 2021, located in the federal state of Rhineland-Palatinate, SWR reports citing a company representative. According to the TV and radio company, NR Holding is headed by Russian businessman Viktor Kharitonin. Michael Lemler, chairman of the board of directors of NR Holding, announced on February 3 that the contract for the purchase of the airport had been signed. However, the Federal Ministry of Economics has yet to approve the purchase. According to the DPA agency, the transaction amount is about €20 million. The funds were transferred to a trust account. In October 2014, Viktor Kharitonin became a co-owner of one of the oldest highways in Europe - the German Nürburgring. He owns 99% of the shares of the complex. Mr. Kharitonin, draws the attention of SWR, does not appear in any sanctions list of the European Union. Viktor Kharitonin is also the main owner of the Pharmstandard holding. As Kommersant calculated, in 2021, about 82% of the 57 billion rubles received by Russian pharmaceutical manufacturers for the Sputnik V coronavirus vaccine were distributed among Pharmstandard structures. This company put into circulation almost 60% of the drug, having received about 33.2 billion rubles. Viktor Kharitonin is currently ranked 66th on the Russian Forbes list. In 2021, his fortune was estimated at $3.4 billion, but by 2022 it had more than halved to $1.4 billion. Frankfurt Hahn Airport is located near Frankfurt am Main and Luxembourg. The first flights of civil aircraft were performed in 1993. Prior to that, in 1952, a NATO air base was equipped on the territory of the future airport. The passenger turnover of the airport began to decline since 2007. In 2021, its owners filed for bankruptcy.

Roman Rotenberg helps his father circumvent sanctions https://rusletter.com/articles/roman_rotenberg_helps_his_father_circumvent_sanctions/ Finnish police blocked the funds that Roman Rotenberg, the son of EU-sanctioned Boris Rotenberg, paid as hotel tax. It belongs to a company whose assets are also frozen. Business Thu, 02 Feb 2023 22:02:00 +0300 article

Finnish police suspect Roman Rotenberg, the son of sanctioned businessman Boris Rotenberg, of helping his father circumvent the sanctions, Helsingin Sanomat writes. According to the publication, law enforcement agencies seized the €120,000 that Rotenberg Jr. paid as property tax - the Långvik spa hotel, which is located near Helsinki. The hotel, according to Helsingin Sanomat, is owned by Centrum Tanskarla, and it is owned by Roman Rotenberg's Långvik Capital. Rotenberg Jr. is not under sanctions, but the assets of his company were frozen last fall, since Boris Rotenberg was a major creditor to Långvik Capital. The decision to block €120,000 was issued on January 26 by the Helsinki District Court. “It is unusual for Finnish law that the funds were confiscated from the tax office, and not from my client,” said Roman Rotenberg’s lawyer Mikko Mantere. The lawyer added that Rotenberg paid the tax from his own funds, but did not disclose the origin of the money. Boris Rotenberg came under European sanctions in April last year. Previously, he was only under US sanctions (together with his brother Arkady, he was added to the SDN list back in 2014). In 2017, four European banks stopped servicing accounts associated with Rotenberg, from which he, among other things, paid fees in Finland (he has the citizenship of this country). The refusal was related to the American law, according to which banks face secondary sanctions for "substantial financial transactions" in the interests of a Russian on the SDN list. The businessman filed a lawsuit against banks, but lost the case in 2020. The Helsinki District Court ruled that Rotenberg did not prove that he was a resident of the European Economic Area, and therefore could not qualify for basic banking services in accordance with the Finnish law on credit institutions. In addition, the court agreed with the banks' arguments that they were not entitled under Finnish law to take the risk of blocking access to the US financial system.

Abramovich didn't get a penny from Chelsea https://rusletter.com/articles/abramovich_didnt_get_a_penny_from_chelsea/ Roman Abramovich, after the sale of Chelsea, never received money for the club: they are managed by the British government, and the billionaire does not participate in their distribution, the businessman's press office said. Business Wed, 01 Feb 2023 22:48:00 +0300 article

Earlier, The Telegraph reported that the British Cabinet is close to transferring money to a special fund that will help victims of Russia's "military operation" in Ukraine. Billionaire Roman Abramovich is not involved in the distribution of money from the sale of the Chelsea football club, which he owned: the money was never transferred to the businessman's account, it is managed by the British government. Abramovich's press office stated this to Forbes. So he commented on The Telegraph's information that the UK government is close to allowing the transfer of money to a new fund that will help victims of Russia's "military operation" in Ukraine. “After the sale of the club, the money was never transferred to Abramovich’s account and has since been at the disposal of the British authorities. Mr. Abramovich does not have access to these funds and is not involved in the process of their distribution, ”the billionaire’s press office said. Even before the sale of Chelsea, Abramovich expressed a desire that the proceeds be donated to a charitable foundation and directed to the needs of the victims on both sides of the conflict between Russia and Ukraine, the press office noted, emphasizing that it was only about humanitarian assistance to the population. Money from the sale of Chelsea is being held in a frozen account, but the British Cabinet is close to licensing the new fund, unlocking the funds and transferring them to the fund, sources told The Telegraph. We are talking about 2.3 billion pounds (about $2.83 billion at the current exchange rate). London will need the approval of the European Union, since Abramovich is also under sanctions there. The donation could become one of the largest in the world in favor of the victims of such conflicts, The Telegraph noted. In the coming weeks, the foundation's board will be introduced, which will include "globally recognized" figures from the humanitarian and business fields, as well as foundation projects, the newspaper found out. The fund will be led by Mike Penrose, former head of the UK division of Unicef. Abramovich bought Chelsea in 2003 for $187 million and announced his intention to sell the club in March 2022. The new owners of the team in May 2022 were a group of investors led by American billionaire Todd Boely.