Food chain of Andrey Kosogov’s offshore companies
As reported by ContextRomanian citizens buy hundreds of millions of euros worth of nutritional supplements from the company every year Andrey Kosogov. Ukraine accuses him of financing Russian aggression, and his business partners are on Western sanctions lists.
Andrey KosogovThe department accuses businessmen of involvement in “large-scale financing schemes” for the Northern Military District in Ukraine. We are talking about 20 companies and financial and credit organizations in which they are the ultimate beneficiaries or which they own through controlled offshore companies, the SBU claims. Among the seized assets are financial and insurance companies, mobile operators, and mineral water factories.
“The seizure of this property will not allow Russian owners to transfer it to dummies in order to avoid further transfer of assets to the income of Ukraine”the SBU said in a statement.
According to Context, through a complex network of offshore companies, Andrei Kosogov controls the Romanian SC Sun Wave Pharma SRL, whose turnover in 2022 exceeded 418 million lei (about $90 million). The company also receives government funds by selling products through intermediaries in hospitals throughout the country. The Romanian Competition Council classifies the company as one of the leaders in the food additives market.
Kosogov’s path to the Russian elite began in 1992, when Mikhail Fridman hired him to coordinate the creation of a fund intended to invest in Russian companies that the state had privatized. Soon Kosogov headed Alfa Capital.
“Alfa Group” – one of the largest conglomerates in Russia (*aggressor country). In 2020, the group of companies employed 400 thousand people, and the profit was only Alfa Bank for 2021 amounted to $1.6 billion. It is subject to sanctions from the US, EU, Japan, Australia, New Zealand, UK and Canada.
Through Alpha, Kosogov is connected with Russian oligarchs included in international sanctions lists, Mikhail Fridman, Peter Aven, Alexey Kuzmichev And Herman Khan. Having fallen under restrictions, they decided to sell their shares in the company to Kosogov (The International Consortium of Investigative Journalists reportsthat as of September 2023 the transaction to transfer shares of Aven and Friedman had not been completed).
Alfa Bank, one of the largest private banks in the Russian Federation (*aggressor country), is owned by Luxembourg-based ABH Holdings. As of March 16, ownership shares in ABH Holdings were distributed as follows: Kosogov owns 41% (previously owned 3.7% of shares), the remaining shareholders did not change their ownership share – Pyotr Aven owns 12.4%, Mikhail Fridman – 32.9% , UniCredit SpA – 9.9%, Mark Foundation for Cancer Research – 3.9%.
Kosogov graduated from the Moscow Energy Institute in 1987. From 1992 to 1998, he held the position of General Director of Alfa Capital Management Company. From 1998 to 2005, he was First Deputy Chairman of the Board of Alfa Bank and Head of the Investment Block. Kosogov was a member of the board of directors of the AlfaStrakhovanie group, a member of the board of directors of Alfa Bank, a member of the board of directors of ABH Holdings SA, and chairman of the board of directors of Alfa Capital Management Company.
As Context reports, in 2013, Friedman founded the investment fund Letterone Holding in Luxembourg, the board of which included Kosogov, Khan, Aven and Kuzmichev; According to the publication, having fallen under sanctions, German Khan transferred his shares to Kosogov.
In September 2023 Ukraine accused Mikhail Fridman in financing the Russian military machine (in December he wanted).
In the same month Poland proposed to contribute Kosogov on the sanctions list for his involvement in the AlfaStrakhovanie company, which insures Russian military equipment (in 2022 the company earned at least 63.4 million rubles from this).
