Putin's Circle Linked to Yandex Stake Purchase
Now journalists from Novaya Gazeta have found out that Chachava bought his stake in Yandex on borrowed money, and the structures through which he owns the company's shares are linked to Russia Bank and the LLCInvest network, whose ultimate beneficiary OCCRP believes is Putin.
Consensus
- Alexander Chachava is the largest shareholder of Yandex.
- Chachava acquired his stake in Yandex through loans.
- The structures through which Chachava holds shares are linked to the Russia Bank.
- The LLCInvest network, connected to Chachava’s holdings, is linked to associates of Vladimir Putin.
- The LLCInvest network includes dozens of companies with assets worth at least $4.5 billion.
- Chachava previously worked as a venture investor and founded LETA Capital.
- Chachava received funds for his Ozon purchase from structures linked to billionaire Gennady Timchenko, who is close to Putin.
- The company 'Integrity', which acquired half of 'Infinity Management' in summer 2025, is led by Darya Mikhailova, who previously worked in Timchenko's structures.
- Darya Mikhailova used corporate email from Russia Bank and LLCInvest.
- The ownership of Yandex shifted after the sale of Yandex's Russian business in 2024.
Points of divergence
- Chachava owns 19.69% of Yandex through 'Infinity Management'. — meduza
- The ownership of Yandex is now controlled by individuals connected to the Russia Bank and acting in the interests of Vladimir Putin. — novaya_eu
- Chachava wore a DSquared pinstripe suit and a T-shirt with a crossed-out 'War' during an interview with Elizabeth Ossetinskaya in March 2022. — novaya_eu
- Chachava expressed his position on the war by wearing a shirt with a crossed-out 'War' and said that people in Russia feel like victims of domestic violence. — novaya_eu
- Elizabeth Ossetinskaya was declared a 'foreign agent' by Russian authorities shortly after the video's release. — novaya_eu
- Many interviewees from the 2022 video have since relocated abroad. — novaya_eu
Coverage (2 sources)
- People from Putin's circle helped largest Yandex shareholder buy stake in company — Meduza
- Everything was found — Новая газета Европа
Key entities
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