Russian Elites Pay Millions for Real Estate in Montenegro

Russia_Crna_GoraReal Estate billboards in Russian pepper Montenegro’s coastal highway and chatter in Russian is often heard at seaside resorts and cafes.  But just who are these Russians who have been flocking to this wild part of the Adriatic coast?

Russian newspaper Novaya Gazeta in partnership with OCCRP conducted an investigation into some of the small country’s newest landowners as part of an investigation into Russian wealth in Montenegro.

The second part of the series, entitled “Gnomes of Montenegro” details the costs of the property and villas that Russian government officials and company heads have purchased on the Adriatic Sea coast.

The investigation, published in Russian, shows how a Russian national convicted of rape and theft has been brokering real estate deals in Montenegro.  It also connects Russia’s first lady Svetlana Medvedeva, and other high level ministers and government officials to properties worth hundreds of thousands—if not millions—of euros.