State Banker and his Offshore Network

A. Borodin: No comment needed here.

Important Stories

As head of VTB, Andrey Kostin is linked to a network of offshore companies owning Russian and European real estate, as well as other assets worth over 100 million dollars

Andrey Kostin, the head of state-controlled VTB Bank, is far from poor. He disclosed his earnings for the first time back in 2014, declaring to German journalists that he had earned RUB 240 million. At the time Kostin rebutted categorically USD 37 million in earnings attributed to him by Forbes, calling this figure “utter nonsense”. Continuer la lecture

Press Release

13 March 2020

I am not surprised by yesterday’s decision of the Meshchansky Court convicting me.

The investigations in Russia have not been independent, objective, open-minded or fair, and I knew that I would not receive a fair trial on the charges resulting from these investigations. I therefore did not participate in this trial.

However, as anticipated, the trial was characterised by a series of flagrant and fundamental breaches of fairness reflecting a clear failure to even try to independently and impartially consider the allegations.  Yesterday’s decision stands in clear contrast to other decisions by non-Russian judicial and investigative bodies which considered the allegations against me. Interpol withdrew a red notice against me while other non-Russian bodies have either determined that such evidence offered by the Russian authorities was completely insufficient to ground any action, or that there is worrying evidence of political interference in the investigation against me. 

I will continue to vigorously defend all actions against me in front of courts where I am confident of a fair and impartial hearing.

Andrey Borodin

A Weekend of Thrilling Polo at Cowdray Park Polo Club

Cowdray Park Polo Club

The Harrison Cup, Holden White Cup and Cowdray’s oldest trophy, the Challenge Cup, are three tournaments which for more than half a century have coincided with the Festival of Horseracing at nearby Goodwood. The Finals of all three tournaments, played as part of the Cowdray’s HPA’s series, reached their thrilling conclusions over the weekend of 5th/6th August. Continuer la lecture

En Russie, le « Medvedevgate » embarrasse le Kremlin

Le Monde

Accusé de corruption, le premier ministre de Vladimir Poutine, avec qui il forme un duo au pouvoir depuis des années, chute dans les sondages.

La popularité de Dmitri Medvedev s’écroule. Pour la première fois, selon un sondage de l’Institut Levada publié mercredi 26 avril, 52 % des personnes interrogées ne « font plus confiance » au premier ministre russe, et près de la moitié, 45 %, se déclarent favorables à sa démission contre 33 % (plus de 20 % sont indécis). A un an de la présidentielle de mars 2018, l’image dégradée du deuxième personnage de l’Etat déséquilibre le duo qu’il forme depuis des années avec Vladimir Poutine. Un dilemme pour le Kremlin : maintenir M. Medvedev risque de nourrir le mécontentement, le remplacer serait perçu comme une victoire de l’opposition. Continuer la lecture

Don-Stroy To Develop One Million Square Metres On Baturina’s Land

Comment by Andrey Borodin: Here’s another proof of the fact that allegations and convictions against me and my colleagues are utter nonsense. A plot of land that was used as collateral against the loan granted by Bank of Moscow and according to Russian state prosecutors was worthless turns out to be an investor’s Klondike.


As Vedomosti learnt, in December 2016, Moscow’s Urban Planning and Land Commission approved a development project of 160 hectares of the areas located within the territory between Lobachevsky Street, Moscow to Kiev Railway, Michurinsky Avenue and the Ramenka River. An official of the Moscow City Government said over 1.3 million sq. m. of real estate assets are planned to build here. The bulk of the development project will affect a 58-hectare plot that was previously owned by Elena Baturina and became the subject matter of a number criminal proceedings involving the Bank of Moscow, said an unnamed source close to the Bank. 1,15 million square metres are to be developed there. Konstantin Timofeyev, the chairman of Moskomstroyinvest, or Moscow’s Development and Investment Commission, said that CJSC Don-Stroy will be the investor of the project. Continuer la lecture