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Spotlight | Russia
Kremlin-backed oligarch operates Crimean railway from Gibraltar

Mikhail Ryabinovich had launched in 2005 the Grand Express, linking Moscow to St. Petersburg. He sold it in 2019 to TKS, which then established itself in Crimea.
Mikhail Ryabinovich had launched in 2005 the Grand Express, linking Moscow to St. Petersburg. He sold it in 2019 to TKS, which then established itself in Crimea. © uskarp/iStock
Mikhail Rabinovich, who enjoys the protection of Vladimir Putin's inner circle, manages Crimea's railway system through his offshore companies, under the radar of Western sanctions. The discreet Russian businessman has been promised control of logistics giant FESCO, previously owned by a rival oligarch, in exchange for his services. [...]
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International Dealmaking

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