For more than two decades, Andrei Akimov has been at the helm of state-controlled Gazprombank, and is known to have close ties to Vladimir Putin and associations with the Russian leader’s inner circle. Thus it’s no surprise that such a prominent Russian state banker would align with Putin’s condemnation of the “collective West” conflict. Yet a recent investigation by Vazhnyye Istorii has revealed that Akimov, along with his relatives and associates, has spent years acquiring properties worth tens of millions of euros throughout Western Europe, including France, Austria, Spain, Britain and Cyprus.
The discovery of the foreign assets owned by the Gazprombank head began to emerge through the global investigation “Secrets of Cyprus” (Cyprus Confidential), which relied on leaked documents from Cypriot registrars and consultants. The International Consortium of Investigative Journalists (ICIJ) and German Paper Trail Media facilitated access to these documents. Additionally, the publication drew on information from previous leaks, namely the Panama Papers and the Pandora Papers, and collaboration with French daily Le Monde.
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Gazprombank’s essential involvement in activities supporting the war effort, from financing steel producers to providing salary cards for security forces and the military, is undeniable. However, it’s difficult to believe that Andrei Akimov harbors genuine animosity toward the West and its values. Having lived and worked in Europe for many years, he even corresponded with Soviet leader Mikhail Gorbachev in the 1980s, advocating for financial system liberalization and economic freedom.
In the past, Akimov played an active role in dismantling the Iron Curtain and attracting Western investors to Russia. Now, however, he appears to serve interests aligned with those seeking to rebuild barriers between Russia and the West. Interestingly, while Akimov’s relatives and friends reside in Europe and hold foreign passports, he maintains official ties only with his first wife, from whom he divorced in 2017.
Despite Akimov’s assertion to Vazhnyye Istorii that his loved ones have no involvement in his professional affairs and share no common property, leaked offshore documents suggest otherwise. These documents indicate that his relatives received millions of euros in assets from Akimov and his companies. Some of these assets include valuable real estate, which eventually came under Akimov’s ownership. Additionally, in certain instances, Akimov placed properties in trusts—highly secure forms of property management—benefiting his relatives and friends.
Nureyev’s former Caribbean getaway
Among the array of real estate owned by the head of Gazprombank, one standout property is a mansion situated on the French “millionaires’ island” of Saint-Barthélemy (Saint-Barth), boasting terraces and swimming pools right on the rocky shore of the Caribbean Sea. Notably, this house was once owned by the renowned ballet dancer Rudolf Nureyev, whose life story starkly contrasts with the current Russian landscape.
Following a tour in Paris in 1961, Nureyev opted not to return to the USSR, instead seeking political asylum. In response, a Soviet court sentenced him in absentia to seven years for “treason to the Motherland.” Nureyev died in France in 1993, spending his final years enjoying retreats to St. Barths.
Nureyev holds status as a global LGBT icon. However, in Russia, his legacy faced censorship. For instance, the premiere of Kirill Serebrennikov’s ballet “Nureyev” at the Moscow Bolshoi Theater in 2017 was delayed for several months due to its depiction of “freedom for homosexuals.” Ultimately, in April 2023, the ballet was removed from the repertoire to comply with a law prohibiting the promotion of non-traditional values.
The ownership of Nureyev’s former residence in St. Barths and coastal land is vested in French companies Maison Reev and Petit Reev. These entities were purchased in December 2014 by the Cypriot companies belonging to Akimov’s son Denis and stepdaughter Elena (from his first wife) for nearly 5 million euros. Subsequently, in 2016, the Cypriot companies holding the property (Magalior Holdings and Melastor Holdings) were transferred to the possession of the Gazprombank head and his second wife, Marianna Chaikina.
No evidence of Akimov’s relatives’ capacity to independently afford a residence on the “island of millionaires.”
Despite these transactions, there’s no evidence suggesting substantial business ventures among Akimov’s relatives and associates that would enable them to independently afford a residence on the “island of millionaires.” Requests for clarification on the origin of the funds from Denis and Elena Akimova, as well as Marianna Chaikina, have gone unanswered.
Among the other notable properties owned by Andrei Akimov and his associates are several luxurious villas in prestigious locations:
*Villa “Aloha” situated in Villefranche-sur-Mer on the Cote d’Azur. This property was under the ownership of a company that received financial backing from Andrei Akimov’s enterprise.
*Another remarkable estate is a villa located in Chêne-sur-Léman, positioned along the French shores of Lake Geneva. Since 2010, this villa belonged to a company that eventually came under the ownership of Andrei Akimov’s son, Denis, and his stepdaughter, Elena.
*Lastly, there’s a villa in Ramatuelle, near Saint-Tropez, previously owned by Andrei Akimov’s ex-wife, Elena, and their son Denis. This villa, located in the Monaco region, adds to the portfolio of properties associated with the Akimov family.
Vienna — neighbor of Freud
Elena Akimova, an Austrian citizen and daughter of the first wife of the head of Gazprombank, potentially holds insights into how Russian officials, despite settling their families in Europe, continue to serve a regime that has declared hostility toward the West. Trained as a psychiatrist, she specializes in treating schizophrenia and depression, with studies conducted in Austria.
In 2014, Akimova established her own practice, and by the following year, she appeared to have a private psychiatric clinic located in the heart of Vienna, at Praxis Berggasse 1. Situated in a 19th-century building with a courtyard fountain, the clinic is just steps away from the museum-apartment of Sigmund Freud, the pioneer of psychoanalysis. The acquisition of premises for her practice between 2012 and 2014 amounted to over 2 million euros, approximately equivalent to 20 years’ worth of an average Austrian psychiatrist’s salary.
The clinic’s interior was designed by Akimova’s mother, Elena Akimova, who is also a designer and the ex-wife of the head of Gazprombank. The result is a stunning medical facility that has been praised for its elegance and aesthetic appeal. One interiors magazine remarked that Elena Akimova’s project in Vienna resembles a stylish residence belonging to a fashion enthusiast and art collector, rather than a private psychiatric clinic—a testament to the design’s success.
In an article from an interiors magazine, it is revealed that designer Akimova has resided in Vienna for over 30 years. Trained as an artist-fashion designer at the Moscow Textile Institute, she specialized in Yves Saint Laurent, and her diploma centered on his work. Notably, the magazine did not disclose her identity as the former wife of a Russian state banker.
Following Russia’s invasion of Ukraine in 2022, Akimova resumed using her maiden name, Milovskaya, while her daughter, Doctor Akimova, adopted the surname Aschauer.
Spain — a Mallorcan estate
Situated on the Spanish island of Mallorca near the city of Pollensa, the Can Guillot estate sprawls across 80 hectares, boasting meticulously designed landscapes, gardens, fountains, artificial lakes, a sizable swimming pool, and a spa complex. Plans to construct a golf course on the property, valued at 17 million euros, were thwarted due to environmental concerns.
There’s no concrete evidence to the rumors that Putin himself visits the island.
Despite rumors circulating among local residents suggesting visits from Vladimir Putin himself, there’s no concrete evidence supporting such claims. The Spanish publication El Mundo addressed this speculation in 2022, revealing that the estate belonged to Andrei Akimov and Marianna Chaikina.
Despite being under American and British sanctions at the time, Akimov remained listed as the owner of the Cypriot company Powershere Investments, which in turn owned the estate through the Spanish entity Can Guillot.
The Can Guillot estate, valued at 17 million euros, exudes beauty from every angle and is notable not only for its grandeur but also for the generosity shown towards Akimov’s family and friends. According to leaked documents, Akimov’s offshore company, Knightstone Investments from the British Virgin Islands, transferred 82% ownership of the Cypriot company that owned the estate to his son Denis and stepdaughter Elena in December 2014.
These shares, worth over 13 million euros, were equally distributed between them and held from 2014 to 2016 before reverting to structures associated with the state banker. Ultimately, in 2022, the estate was sold.
UK — 150 meters from Buckingham Palace
Following Russia’s invasion of Ukraine, Andrei Akimov became subject to British sanctions. In February 2023, British authorities froze the residence of Philip Chaikin, son of artist Marianna Chaikina, who is the second wife of the Gazprombank head. Although Akimov and Chaikina’s relationship was not formally registered, it ended in 2017.
Chaikin himself voiced his discontent regarding the situation and the restrictions imposed on his house. “I consider this… unfair and directly against the values of a democratic society,” Chaikin stated. “The reason for freezing my house is the assumption that I am the custodian of an asset for Andrei Akimov. I can say with a clear conscience that I do not hold any assets of this person, but simply live in this house with my family.”
He explained that he acquired the house with funds obtained from the sale of an apartment located in central London at 1 Palace Place, merely 150 meters from Buckingham Palace. This London apartment, valued at 3.5 million pounds, was gifted to him by Marianna Chaikina.
Leaked documents indicate that artist Marianna Chaikina owned numerous expensive properties, despite the absence of high-income businesses associated with her. Among her notable possessions is a £12 million apartment in London at 10 Lancelot Place, in close proximity to Hyde Park and the Royal Palace. Previously, this apartment was registered to the company Inma Investments from the British Virgin Islands and managed by the Lancelot MC Trust, with trusteeship held by companies linked to Andrei Akimov and his relatives. Akimov and Chaikina declined to comment on the situation.
Philip Chaikin holds Russian, British, and Cypriot citizenship and has resided in the UK for nearly 20 years since his school days. In 2010, he interned at the British consulting company Lambert Energy, recommended by Andrei Akimov. Lambert Energy, co-owned by British aristocrats and Matthias Warnig, a former East German state security officer with ties to Putin, served as a financial adviser in significant deals such as the Rosneft-BP deal in 2013.
Following his internship, Chaikin spent five years working at Gazprom’s Gazprom Marketing & Trading division before transitioning to entrepreneurship in the restaurant industry. He currently operates two Ugly Dumplings street food restaurants in central London. However, the financial success of his businesses does not justify the purchase of a £3 million apartment opposite the Royal Palace.
He firmly rejects the notion of returning to Russia, emphasizing his alignment with Western democratic values
Chaikin expressed skepticism about the effectiveness of sanctions, stating, “It’s hard for me to imagine how freezing my house could help end the war.”
Despite holding multiple citizenships, he firmly rejects the notion of returning to Russia, emphasizing his alignment with Western democratic values of freedom of speech, thought, and choice. He condemns Russia’s actions in Ukraine, labeling it as a criminal war and advocating for the restoration of Ukraine’s sovereign territories to their 1991 borders.
Since the onset of the war, Chaikin has been actively fundraising for the UNICEF Ukraine Appeal through his restaurants and remains committed to supporting efforts to end the conflict and aid in Ukraine’s recovery.
Cyprus
Located just 40 meters from the seashore and a short distance from Limassol’s city center, the Amathus Beach Hotel presents itself as a tranquil haven of top-tier comfort nestled amidst tropical gardens. Recently renovated and upgraded to five stars, the hotel boasts luxurious amenities and pristine beachfront views.
Adjacent to the hotel, the Amathus Residences residential complex is nearing completion, offering access to all hotel services. Atop the complex are two penthouses spanning five thousand square meters each, featuring private pools and adorned with marble and hardwood finishes. Below them, nine floors host more modest apartments ranging from 100 to 270 square meters, many with their own swimming pools. During the construction stage in 2021, these apartments were offered at prices ranging from 2 to 6 million euros.
According to Vazhnyye Istorii’s investigations, a quarter of the luxury hotel and apartment project is owned by the Cypriot company Elerfield Holdings, which was previously owned by firms associated with Andrei Akimov and his deputies at Gazprombank, Alexei Matveev and Alexander Muranov. Akimov has been subject to US sanctions since 2018, while Muranov and Matveev have faced sanctions since 2022.
How sanctions changed property ownership
Following Russia’s annexation of Crimea in 2014, the US and EU imposed sanctions, including those targeting Russian state banks and bankers. Gazprombank, too, faced restrictions, albeit without personal sanctions against Akimov at that time. Nevertheless, the changing geopolitical landscape posed risks, prompting alterations in the ownership structure of foreign properties associated with him. Several assets underwent ownership changes in the wake of the Russian invasion, as discussed previously, although the extent of the divestment from the previous owner remains unclear.
Akimova was a private investor
One noteworthy example is the Falcon business jet, valued at million, initially registered to a company from the British Virgin Islands, Terminal Aviation Inc. Until 2014, it belonged to the Belizean company Metaliona, which, in turn, was under the ownership of Akimov’s Cyprus-based Vermor Investments.
In 2014, amidst a climate of heightened sanctions, Terminal Aviation, along with the business jet, transferred to the formal wife of Gazprombank’s head, Elena Milovskaya. Documents indicated that Akimova was a private investor and had retired. Akimov previously informed Vazhnyye Istorii that he did not own the plane.
Another notable property in Akimov’s real estate portfolio, Rudolf Nureyev’s house in St. Barths, also came under the ownership of the pensioner. In April 2018, following Akimov’s placement under U.S. sanctions, significant shares in Cypriot companies holding the house and coastal land were sold to Gemenor Holdings, a Cypriot company owned by Litvintseva, for less than 100,000 euros. Neither she nor her family members appear to possess the wealth of typical oligarchs capable of purchasing such a villa.
Following the outbreak of war, Nureyev’s house was sold to a French citizen, a longtime manager of the French companies that own the property. This individual had previous dealings with Russian businessmen, including serving as a business partner to Vladimir Tsyganov, the former co-owner and general director of the Belaya Dacha agricultural holding.
The historic villa is now managed by the Le Toiny hotel in St. Barths. This transaction may raise questions, given a similar scenario where, following Russia’s invasion of Ukraine, two vineyards owned by billionaire Dmitry Pumpyansky were transferred to their French manager, resulting in the freezing of the property.
Andrei Akimov opted not to respond to detailed inquiries regarding his foreign real estate holdings and “personal views.”
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