Pandora Papers: Russian bankers and oligarchs close to Vladimir Putin used 3,700 offshore companies to evade sanctions for invasion of Ukraine

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Pandora Papers: Russian bankers and oligarchs close to Vladimir Putin used 3,700 offshore companies to evade sanctions for invasion of Ukraine

Alexei Mordashov is one of the Russian millionaires mentioned in the new revelations. Photo: Twitter.

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The International Consortium of Investigative Journalists (ICIJ) published a new report on Monday in which it revealed that bankers, oligarchs and other members of Vladimir Putin’s board hid large fortunes in tax havens with the help of western intermediaries.

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The ICIJ – which is made up of more than 100 media outlets from around the world – has also determined that various avoidance maneuvers have led to this huge fate. avoid the sanctions imposed by the West on Russia since the beginning of the invasion of Ukraine.

The research is called “Pandora Papers Russia” -Part of Pandora’s Papersfound that more than 800,000 offshore companies linked to individuals and companies from more than 200 countries – found that more than 4,400 Russian citizens used 3,700 signatures and entities located in jurisdictions considered tax havens.

Pandora Papers contain information from 14 companies specializing in creating and operating companies, trusts and foundations in opaque jurisdictions, often used to hide assets and evade tax authorities.

In this investigation, it examined documents from Alpha Consulting, a firm created in 2008 by Victoria Valkovskaya, who was a Muscovite translator before moving to the Seychelles, where she opened the office with her husband Roy Delcy, a native of the island. Russian is, so far, the nationality that is more prominent in leaked documents.

Since the beginning of the invasion of Ukraine ordered by Putin, dozens of Russian citizens have been allowed by the West. However, the wealthy men closest to the Russian president were able to avoid those penalties by doing business in places where all company information was kept completely secret.

One of the beneficiaries of these maneuvers — and one of the clearest examples of how it works — is Alexei Mordashovan iron tycoon with an estimated value of $ 29 billion with 65 companies based in the British Virgin Islands.

Mordashov owned a third of the shares of the German tourism company TUI but, in February, when the sanctions began, he removed himself from all of them and sold them to the Ondero company, a companies in the British Virgin Islands, which are controlled, in turn. by Ranel Assets.

This last company is linked to Marina Mordashova, who the mother of Mordashov’s children.

The other names that appear in the reviewed documents are the of Suleiman Kerimov -a person who is part of Putin’s circle of trust and has a fortune of approximately 10,000 million dollars- and of Sergei Chemezovformer partner of the current president of Russia in the KGB.

also listed Leonid Reimanformer Minister of Information and Communication of the Russian Federation, and well -known Russian businessman Roman Avdeev, owner of Credit Bank of Moscow (one of the major financial institutions in the country) subject to US sanctions since last February.

DD

Source: Clarin

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