Family members of Russian President Vladimir Putin have acquired several plots of real estate near his residence in Moscow’s western suburbs, In accordance with the latest findings of an investigation by Russian news site Proyekt. Offshore companies based in Panama and elsewhere purchased the plots in 2006 before Putin’s daughters received them as a form of dowry. Putin’s eldest daughter, Maria, settled in one of the locations, while Kirill Shamalov, the ex-husband of Putin’s other daughter, Katerina Tikhonova, reportedly received title to another plot. Shamalov has since been hit with financial sanctions by the US, UK and other countries for his close ties to Putin.
In accordance with the latest findings of a new investigation by the Russian news site Proyekt, family members of Russian President Vladimir Putin have quietly acquired several plots of real estate in Moscow’s western suburbs near his residence. These plots of land are part of a series of luxury homes that have been built in the area. This latest report is just one in a series of findings that suggest Putin, his allies, and his family are linked to a vast, secretive, and lucrative network of assets.
Putin officially earns an annual salary of around $140,000, and his publicly declared assets include a 75-meter foot apartment, a trailer, and three cars. However, some analysts believe his wealth is hidden behind complex financial schemes organized by close associates, estimating it to be at least $200 billion.
Proyekt’s report reveals that offshore companies based in Panama and elsewhere acquired several plots of land near Putin’s official government residence of Novo-Ogaryovo in 2006. Putin’s two daughters from his now ex-wife Lyudmila later received the real estate as a form of dowry.
Putin’s eldest daughter, Maria, settled in one of the locations. She has used the surname Vorontsova and was married to a Dutch man for several years. However, they reportedly split, and she remarried a Russian oil and gas executive. Kirill Shamalov, the now ex-husband of Putin’s other daughter, Katerina Tikhonova, reportedly received title to another plot and conducted extensive renovations on the property worth millions of euros.
Among the refurbished house’s decorations were a handmade gilded chandelier with an estimated value of 72,000 euros ($77,576) and a 19th-century painting by revered Russian artist Ivan Shishkin. Another plot that was titled to Shamalov was expected to have a house built on it for Lyudmila Putin. She and Putin announced in 2013 that they were ending their marriage, and she later remarried.
In accordance with the latest findings of Proyekt’s findings, in 2013, Shamalov sent a power of attorney regarding the plot to the man whom Lyudmila ultimately remarried. Shamalov and Tikhonova later separated, and Shamalov has since been hit with financial sanctions by the United States, Britain, and other countries for his close ties to Putin.
Shamalov then transferred ownership of the plots he owned to a firm allegedly associated with Arkady Rotenberg, a childhood friend of Putin. Rotenberg has been hit with sanctions by the United States and the European Union for his close ties to Putin and his alleged involvement in Russia’s annexation of Crimea.
These findings add to the growing evidence that Putin, his allies, and his family have been accumulating vast wealth through secretive means. While Putin’s official salary and declared assets may seem modest, it appears that he and those close to him have access to a vast network of assets that are hidden from public view. Proyekt’s investigation sheds further light on this issue, but it is likely that there is much more to uncover.