The Russian Offshore Patriots

The Panama Papers
Investigation

Several high level officials of the Russian government have hidden offshore companies in Panama and the British Virgin Islands. Analysis done by Novaya Gazeta and the Organized Crime and Corruption Reporting Project suggests that these limitations have done little to deter the Russian offshore patriots.

April 3rd, 2016
Offshore Tax Havens
British Virgin Islands, Panama

Several high level officials of the Russian government have hidden offshore companies in Panama and the British Virgin Islands, according to documents obtained from a Panama-based offshore services provider called Mossack Fonseca.

According to Russian law, these officials have been barred from engaging in foreign business activities since May 2013, when a Russian law on foreign financial instruments took effect. In addition, they may be in violation of the Russian de-offshoring law, which took effect on 1 April 2015, which requires Russian residents and companies to inform authorities of any foreign holdings above 10 percent. Further, parliamentarians are expressly forbidden from engaging in 'entrepeneurial activities'.

Analysis done by Novaya Gazeta and the Organized Crime and Corruption Reporting Project suggests that these limitations have done little to deter the Russian offshore patriots.

Viktor Zvagelskiy

Viktor Zvagelskiy

State Duma, United Russia Party
Alexander Babakov

Alexander Babakov

State Duma, United Russia Party
Aleksey Patrushev

Aleksey Patrushev

Politician's Nephew
Alexander Makhonov

Alexander Makhonov

Deputy Minister of Internal Affairs
Alexey Ulyukaev

Alexey Ulyukaev

Minister of Economic Development
Dmitry Peskov

Dmitry Peskov

Presidential Executive Office