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Russian oligarch Fridman served with notice of suspicion of financing Russia's war in Ukraine

Since the beginning of Russia's full-scale invasion, he has "transferred" about 2bn rubles into several military plants of the aggressor country. 

Russian oligarch Fridman served with notice of suspicion of financing Russia's war in Ukraine
Michael Fridman in London talking to a Ukrainian journalist
Photo: screenshot from UPʼs investigation

The Security Service of Ukraine has documented the criminal activities of Russian oligarch Mikhail Fridman, who is involved in financing the war against Ukraine, SBU press service has stated

Since the beginning of the full-scale invasion of Russia, he has "injected" about 2bn rubles into several military plants of the aggressor country. Among them are the Tula Cartridge Plant, which produces ammunition, and the Ural Optical and Mechanical Plant named after Yalamov, which produces high-tech equipment for Russian combat aircraft and helicopters.

To finance the Kremlin's aggressive "projects," the oligarch uses the assets of the Russian financial and investment consortium Alfa Group, which he controls.

He has also used his own business resources to massively distribute dry rations, clothing, and other products under the Russian Army trademark, which are supplied to the occupiers on the front line.

At the same time, Fridman organised the collection of material and technical assistance for the needs of the Russian occupation groups fighting in Ukraine.

In addition, the defendant's insurance companies took over the insurance of military equipment, as well as the life and health of Russian invaders at the front.

The Russian oligarch also ensured the cooperation of his own telecommunications company with the FSB, which allowed him to conduct mobile communications controlled by the Russian special service in the temporarily occupied regions of Ukraine.

Based on the evidence collected, the SBU investigators served Fridman with a notice of suspicion under Part 3 of Article 110-2 of the Criminal Code of Ukraine (financing of actions committed with the aim of violent change or overthrow of the constitutional order or seizure of state power, change of the boundaries of the territory or state border of Ukraine committed by a group of persons by prior conspiracy).

The suspect is currently a fugitive from justice abroad. Comprehensive measures to bring him to justice are under way. He faces up to 8 years in prison with confiscation of property.

As a reminder, Fridman was previously served with a notice of suspicion of laundering $1.2mn and €1.93mn and intentional tax evasion of 18mn hryvnas. The case is related to Sens Bank.

On 20 July, the National Bank decided to withdraw Sens Bank from the market due to sanctions against its owners and proposed that the government nationalise it. The next day, the Cabinet of Ministers agreed to buy the bank for one hryvnia. On 22 July, Sens Bank officially became a state-owned bank, and on 24 July, new members of the management board and supervisory board were appointed.

On 24 July, the Prosecutor General's Office stated that the former owners of Sens Bank wanted to force it into bankruptcy and withdraw funds to Russia.

Fridman's Russian business cooperates with the Russian military and security forces fighting against Ukraine, provides the occupiers with military uniforms, food, and organises actions in support of the invaders, Skhemy investigated. Fridman, together with his business partners through the Alfa Group, owns AlfaStrakhovanie. The latter cooperates with the Rosgvardia, providing it with insurance services for official vehicles. 

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