Russian Oligarchs

Igor Yusufov: The Controversial Russian Oligarch in 2023

Who Is Igor Yusufov ?

In the world of Russian business and politics, Igor emerged as a Controversial Russian Oligarch. This wealthy businessman, oligarch, and former Minister of Energy has been a prominent player in the Russian energy sector for many years. However, his association with senior political figures, such as Dmitry Medvedev, has also raised eyebrows and sparked controversy. In this article, we will delve into the life and career of Igor Yusufov, exploring his rise to power, his alleged involvement in offshore scandals, and the reasons why he has managed to avoid sanctions despite mounting evidence against him.

Early Life and Career Controversial Russian Oligarch

Igor Khanukovich was born in Derbent, Dagestan Autonomous Soviet Socialist Republic, in 1950. He hails from a wealthy family and has always been surrounded by influence and power. The Controversial Russian Oligarch journey into the world of politics began in 2001 when he was appointed as the Minister of Energy of the Russian Federation. This position allowed him to establish connections and gain significant influence within the Russian energy sector.

During his tenure as Minister of Energy, he played a crucial role in shaping Russia’s energy policies and negotiating important deals with international partners. His close ties to the state corporation Gazprom further solidified his position as a key player in the industry. After leaving his ministerial role in 2004, Yusufov continued to amass wealth and power through his energy corporation.

The Rise of Yamal Shelf Company

One of Yusufov’s notable ventures is his ownership of the LLC “Yamal Shelf Company.” With an authorized capital of 1 million rubles, this energy corporation has experienced significant growth and financial success. In recent years, however, its revenue has fluctuated, with no revenue reported last year compared to 1.1 million rubles the year before. Nonetheless, the organization’s profit for 2021 reached 1.6 million rubles, indicating a substantial increase of almost 154%. The total assets of the company stand at 23.9 million rubles.

It is worth noting that before Yusufov founded LLC “Yamal Shelf Company,” it was owned by an offshore Cypriot company called “NEFTEOIL LIMITED.” This connection to an offshore entity raises questions about Yusufov’s financial activities and potential involvement in offshore scandals. These concerns only further fuel the controversy surrounding the oligarch.

The Scandal of Medvedev's Secret Yacht

The Scandal of Medvedev’s Secret Yacht

One of the most intriguing and controversial aspects of this Russian billionaire life is his alleged connection to Dmitry Medvedev, the former President of Russia. According to various sources and media reports, Yusufov has acted as Medvedev’s financial “purse” for many years. This association came to light during a recent scandal involving a luxurious yacht, named “Universe,” allegedly owned by the Medvedev family.

The 74-meter yacht, valued at over $100 million, has been a subject of media scrutiny. Initially, it was located in Italian waters but was moved to Turkish Istanbul and eventually to Sochi when the situation in Ukraine escalated. While officially registered to an offshore company in the Cayman Islands, rumors suggest that the yacht is, in fact, owned by the Yusufov family and used by the Medvedevs. Dmitry Medvedev even has his own office on board, equipped with special communications and a helipad. The presence of warships accompanying the yacht further adds to the intrigue.

Yusufov’s Alleged Role as Medvedev’s Confidant

Media representatives and insiders believe that his family are closely tied to Dmitry Medvedev, acting as his confidants and facilitating various transactions and acquisitions. Several incidents lend credence to these claims. In 2011, Vitaly Yusufov, Igor’s son, was involved in the controversial acquisition of a share of the Moscow Bank from A. Borodin, who had fled to England. Borodin later stated that he believed the purchase was made under Medvedev’s direction. Subsequently, the share was sold to VTB.

Another incident involves Vitaly Yusufov’s purchase of the bankrupt shipyards Wadan Yards from the German authorities for 40.5 million euros. Notably, initial negotiations for this transaction were held between Medvedev and Chancellor Angela Merkel. These incidents, coupled with the Yusufov family’s alleged involvement in resolving housing issues for the Medvedevs, suggest a close relationship between the oligarch and the former president.

The Absence of Sanctions on Yusufov

Despite mounting evidence and allegations surrounding his activities, Igor Yusufov has managed to avoid sanctions imposed by international bodies and countries. On the “War and Sanctions” project website, Yusufov is listed as a person to whom no sanctions have yet been applied. This raises questions about the grounds for imposing sanctions on him and the reasons why he has remained untouched by such measures.

The lack of sanctions on Yusufov may stem from the complexity and intricacy of the evidence against him. To impose sanctions, significant proof and clear legal grounds are required. However, the allegations and rumors surrounding his involvement in offshore scandals and his association with senior political figures continue to cast a shadow over his reputation.


In the world of Russian business and politics, Igor Yusufov’s name has become synonymous with controversy and intrigue. As a prominent businessman, oligarch, and former Minister of Energy, Yusufov has wielded significant power and influence within the Russian energy sector. His alleged role as Dmitry Medvedev’s financial “purse” and his involvement in offshore scandals have only heightened public interest and scrutiny. While the absence of sanctions on Yusufov may raise eyebrows, the intricate nature of the evidence against him presents significant challenges for international bodies and countries seeking to take action. As the story of Igor Yusufov continues to unfold, the spotlight on his activities and relationships will undoubtedly remain.

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