Russian ‘smoking king’ has 1 billion dollars in the Netherlands and is currently on the sanctions list

Russian billionaire Igor Kesaev was added to the European Union’s sanctions list on Friday after Russia invaded Ukraine. Kesaev earns his living importing and distributing cigarettes and drinks, he is also involved in the manufacture of weapons for the Russian army. Kesaev saves 1 billion euros in the Netherlands The Financial Times IDFI

Kesaev owns Megapolis Distribution, founded in 1998, which sells and distributes cigarettes, among other things, and has an annual turnover of 10 billion euros. The company controls 70% of the Russian market for cigarette products. Megapolis sells and distributes drinks, condoms and batteries, among other things.

The Russian businessman has close ties to the Russian state. According to the European Union, he has an interest in the arms factory Degtiarioov, which supplies weapons to the Russian army. He is also involved in the Monolith Fund, which provides financial support to retirees from the security services and the military.

According to the business magazine forbes Kesaev has a net worth of 2.85 billion euros. Kesaev had three superyachts built at Heesen in Oss: Her Destiny in 2007, Sky in 2010 and My Sky in 2014. According to the VesselFinder website, the second ship is currently in Sky off the coast of Panama, Maldives.

Kesaev money flowed through the Netherlands to Cyprus

from research by research agency It turns out that between 2014 and 2019, 1.23 billion euros was sent from Russia via the Netherlands to the Cypriot company Megapolis Holdings. Kesaev is the majority shareholder of this company. This company received a total of 1.9 billion euros from the Netherlands between 2014 and 2019.

A Megapolis spokesperson said: The Financial Times I know that Kesaev does not have a majority or control in the company and left the supervisory board last Monday.

It is not yet clear whether the Dutch government will impose sanctions on Kesaev. There was a lot of irritation in the House of Representatives about the government’s slowness with sanctions.

Six weeks after the first sanctions were imposed, only between 500 and 600 million euros in Russian assets were frozen, according to an inventory. The Financial Times Russian presence in the Netherlands of at least 10 billion euros. Last week, former minister Stef Blok was appointed as sanctions coordinator.

De Nederlandsche Bank (DNB) does not make any announcements about individual cases. A spokesperson for sanctions coordinator Blok says companies have a responsibility to act against those on sanctions lists. If a person or company is sanctioned, all rights must be frozen: you are no longer allowed to attend meetings, you no longer have the right to vote and you no longer have the right to tax dividends or reserves. Blok is also unable to respond to individual cases, according to the spokesperson.

Source: NU