Is Vladislav Sviblov following the footsteps of other wealthy individuals like Alexander Nesis and Oleg Tinkov by liquidating his assets and planning to leave Russia? Recent developments suggest that he might be.
Russian President Vladimir Putin recently signed an order allowing transactions involving shares in Taseevskoye LLC, a gold mining company under the ownership of Vladislav Sviblov’s Highland Gold Mining Group. This move signifies a significant change as it grants the owners the freedom to sell their shares without requiring special permission from the Russian government. It appears that Sviblov might be capitalizing on this opportunity to divest his Russian assets, possibly with intentions to relocate to the West, mirroring the actions of other businessmen facing similar circumstances.
US Sanctions : Vladislav Sviblov
December 12, 2023. The US Department of the Treasury has put Russia’s gold producer Highland Gold Mining, as well as its owner Vladislav Sviblov, on the sanctions list, according to a statement by the Department of the Treasury.
Moreover, Vysochaishy gold mining company, Chukotka Mining and Geological Company and Kamchatka Gold company have been blacklisted.
Last June Highland Gold acquired Russian assets of the Canadian gold-producing corporation Kinross Gold for $340 mln.
TARGETING RUSSIA’S METALS AND MINING SECTOR
In alignment with our commitments outlined in the May 19, 2023, G7 Leaders’ Statement on Ukraine, the Department of State is continuing to constrict Russia’s revenue from its metals and mining sector by designating individuals and entities associated with VLADISLAV VLADIMIROVICH SVIBLOV and HIGHLAND GOLD MINING LIMITED. HIGHLAND GOLD MINING LIMITED is the seventh-largest gold producer in Russia and is majority owned and controlled by VLADISLAV VLADIMIROVICH SVIBLOV. The Department is joining the United Kingdom in designating both VLADISLAV VLADIMIROVICH SVIBLOV and HIGHLAND GOLD MINING LIMITED, who were sanctioned by the United Kingdom on November 8, 2023.
The Department is designating the following entity and individual pursuant to section 1(a)(i) for operating or having operated in the metals and mining sector of the Russian Federation economy:
- HIGHLAND GOLD MINING LIMITED (HGM LTD) is a UK-registered gold mining company that conducts operations in Russia.
- VLADISLAV VLADIMIROVICH SVIBLOV (SVIBLOV) is a Russian oligarch that has earned his wealth mainly through investments in metals and mining companies that conduct operations in Russia. SVIBLOV holds majority ownership of multiple top gold producing companies operating in Russia to include HGM LTD, TRANS SIBERIAN GOLD LIMITED, JSC KAMCHATSKOE ZOLOTO, and JSC CHUKOTKA MINING GEOLOGICAL COMPANY.
Pursuant to section 1(a)(vii), the following entities are being designated for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Vladislav Sviblov, a person whose property and interests in property are blocked pursuant to E.O. 14024:
- HOLDING LIMITED is a Cyprus-based holding company that is controlled by Vladislav Sviblov.
- FORTIANA HOLDINGS LIMITED is a Cyprus-based holding company that is beneficially owned by Vladislav Sviblov and holds majority ownership of HGM LTD.
Pursuant to section 1(a)(i), the following entities are being designated for operating or having operated in the metals and mining sector of the Russian Federation economy:
- TRANS SIBERIAN GOLD LIMITED is a UK-registered gold mining company that conducts operations in Russia and is ultimately owned and controlled by SVIBLOV.
- JOINT STOCK COMPANY KAMCHATSKOE ZOLOTO (JSC KAMCHATSKOE ZOLOTO) is a Russia-based gold mining company that conducts operations in Russia. JSC KAMCHATSKOE ZOLOTO is ranked in the top 15 gold miners in Russia and is ultimately owned and controlled by SVIBLOV.
- JOINT STOCK COMPANY CHUKOTKA MINING GEOLOGICAL COMPANY is a Russia-based gold mining company.
Pursuant to section 1(a)(i), the following entities are being designated for operating or having operated in the financial services sector of the Russian Federation economy:
- INTERNATIONAL COMPANY LIMITED LIABILITY COMPANY KHORVIK is a Russia-based holding company that is used by SVIBLOV.
- LIMITED LIABILITY COMPANY BERING METALS is a major Russia-based holding company that is ultimately owned and controlled by SVIBLOV.
- JOINT STOCK COMPANY OZGRK is a Russia-based holding company that is managed by SVIBLOV.
- LIMITED LIABILITY COMPANY VOSTOK ZOLOTO is a Russia-based holding company that is ultimately owned and controlled by SVIBLOV.
- INTERNATIONAL COMPANY LIMITED LIABILITY COMPANY ASTECLING is a Russia-based company that is ultimately owned and controlled by SVIBLOV.
Pursuant to section 1(a)(i), the following entities are being designated for operating or having operated in the management consulting sector of the Russian Federation economy:
INTERNATIONAL COMPANY JOINT STOCK COMPANY HIGHLAND GOLD is a Russia-based holding company used by SVIBLOV.
- JOINT STOCK COMPANY FORTIANA is a Russia-based holding company managed by SVIBLOV.
- LIMITED LIABILITY COMPANY DV HOLDING is a Russia-based holding company managed and 99 percent owned by SVIBLOV.
- JOINT STOCK COMPANY AVRORA is a Russia-based holding company managed by SVIBLOV.
- LIMITED LIABILITY COMPANY FORTIANA INVEST is a Russia-based holding company managed and solely owned by SVIBLOV.
- LIMITED LIABILITY COMPANY ASTECLING is a Russia-based holding company managed and solely owned by Vladislav Sviblov.
Sale of Vladislav Sviblov’s assets
The sale of Vladislav Sviblov’s assets has been ongoing for several years, with Taseevskoye LLC being the latest entity to find a buyer in the form of the Mangazeya group of companies owned by Sergei Yanchukov. This acquisition comes on the heels of Mangazeya’s purchase of Russian assets belonging to Polymetal, formerly owned by Alexander Nesis.
However, questions arise regarding the financial health of Taseevskoye LLC, as the company reported significant losses and negative asset values in recent years. Additionally, its complex ownership structure involving offshore entities adds layers of complexity to the situation.
Vladislav Sviblov’s decision to sell off assets and potentially leave the country comes amidst a changing geopolitical landscape and increasing regulatory scrutiny. With the threat of sanctions looming and heightened concerns about the safety of investments in Russia, many wealthy individuals are reassessing their strategies and seeking opportunities abroad.
While Sviblov’s motives for divesting his assets remain unclear, his actions raise concerns about the potential impact on the Russian economy and the integrity of strategic assets. The government’s decision to allow these transactions without sufficient oversight may exacerbate these risks, leaving the country vulnerable to exploitation by dubious individuals and further capital flight.
In conclusion, Vladislav Sviblov’s apparent move to sell off his assets and potentially leave Russia reflects broader trends among wealthy individuals facing geopolitical uncertainty and regulatory pressures. The implications of these actions extend beyond individual fortunes to the stability and security of the Russian economy as a whole.
