AFK Sistema PAO is a large Russianconglomerate company, founded by Vladimir Yevtushenkov, who was chairman of the corporation's board of directors until 2022. In April, Yevtushenkov's shareholding in Sistema has decreased to 49.2%, and he also stepped down from Sistema's board.[2][3]
Agroholding - Steppe (Russian: «Агрохолдинг Степь») which, according to Forbes in June 2019, is the second largest land bank in Russia. It has holdings in Rostov Oblast and Stavropol Krai.[18][19]
Segezha Group, a leading vertically integrated holding company in the timber industry performing a full cycle of operations from logging to advanced wood processing
Hospitality – Cosmos Hotel Group
Other businesses — Intourist (Travel Services), until July 2021[20]RTI Systems (Radio and space technology), Olympic Sistema (Sport)
In February 2005, AFK Sistema owned a 49% stake in East-West United Bank (Luxembourg), which was established in June 1974 as a "daughter" bank of the Central Bank of Russia and is one of the five Russian foreign banks of the VTB network.[23][24][25][26][b] In 2018, Sistema held a 100% stake in East-West United Bank (EWUB) with Sergei Pchelintsev (Russian: Сергей Алексеевич Пчелинцев) as the CEO.[35][36] In 2021, the company's revenue amounted to 24 billion rubles.[37]
Following the February and March 2022 sanctions issued against VTB and its subsidiaries which include the former daughter banks of the Soviet Union's State Bank Gosbank and later the Central Bank of Russia, EWUB in Luxembourg has become the principal Russian overseas bank in Europe after Gazprombank ceased operations in the region.[38][39] As of the end of March 2022, the Vladimir Yevtushenkov (Russian: Владимир Петрович Евтушенков) controlled Sistema and its subsidiary East-West United Bank (EWUB) in Luxembourg have not been sanctioned due to Russian invasion of Ukraine.[38][40][41] He is no longer controls Sistema after reducing his stake in the Corporation below control (49.2%), and voluntary resignation from its board of directors in April 2022.[42][43]
Hotels
According to Arnold Tamm (Spivakovsky),[c] both the Peking Hotel at Bol'shaya Sadovaya Ulitsa, 5 in Moscow, where Oleg Kuznetsov (Russian: Олег Кузнецов) was the administrator from 2002 to 2016, and the Cosmos Hotel at 150 Mira Avenue in Moscow, are owned by Sistema.[46]
Aerospace and defence
Until July 2021[20] AFK Sistema PAO had an aerospace and defence subsidiary, Kronstadt Group, which was acquired in 2015 and developed unmanned aerial vehicles, and flight simulators. AFK Sistema no longer controls any assets related to the defense industry.[20]
Bashneft interest seizure and Rosneft lawsuit
In 2014, 72% of Sistema's interest in Bashneft was seized by the Russian government.[56][57]
On May 3, 2017, Sistema shares plunged about 37% following a $1.9 billion lawsuit filed by Rosneft.[58]
On 15 May 2017, the Arbitration Court of Bashkortostan registered a RUB 106.6bn claim filed by Rosneft and Bashneft against Sistema, a preliminary hearing of the case was scheduled for 6 June, Irina Nurislamova was appointed as a judge for the case.[59][60]
In December 2017, AFK Sistema reached an amicable agreement with Rosneft and agreed to pay out 100 billion roubles ($1.7 billion) to resolve the dispute.[61]
According to a declaration given on 18 October 2018 in Spanish court by Sergey Dozhdev (Russian: Сергей Дождев), Igor Sechin uses his offshore companies to control Sistema through MTS and Bashneft.[46][51][d]
Management
On 27 June 2020, Etienne Schneider became an independent director of Sistema at which his close political friend Jeannot Krecké had been a director at Sistema since May 2012.[8][26] Positions they resigned in February 2022.
^With the support of Mr. Pierre Werner, who was the Prime Minister of the Grand Duchy of Luxembourg, on 12 June 1974, the East-West United Bank (EWUB) (Luxembourg) was formed with both the State Bank of the USSR or Gosbank and after the end of the Soviet Union, the Central Bank of Russia, and Russia's Foreign Trade Bank Vneshtorgbank (VTB) as the main shareholders from founding until 1992.[27][28][29] From 1992 to 2000, Imperial Bank had a major stake in EWUB of 49%[27][28][29] and Tokobank held a 28% stake in EWUB in 1998,[30][31] but, on 17 April 2000, Imperial Bank was dissolved.[32] Imperial Bank focused on oil and natural gas supplies to East Germany and later to Germany including the oil-for-pipes program.[33][34] With Vnesheconombank managing Soviet debt, Imperial Bank speculated in GKOs but collapsed with the demise of the GKO market following the 1998 financial collapse in Russia.[33] From 2000 to 2007, VTB had a major stake in EWUB.[27][28][29] Beginning in 2001, the Vladimir Yevtushenkov led Sistema gained a stake in EWUB and since 2007 Sistema has had the majority stake in EWUB.[27][28][29]
^Arnold Tamm (Spivakovsky) (Russian: Арнольд Тамм (Спиваковский); death March 2019, age 51), also known as Arnosha, a member of the Solntsevskaya Bratva, was involved with finances and is the right hand man of Sergei Mikhailov also known as Mikhas. Tamm's attorney was Dmitry Yakubovsky (Russian: Дмитрий Якубовский) also known as "General Dima" (Russian: "генерал Дима").[44][45] In the early 2000s, Tamm was a deputy director of the Peking Hotel and Oleg Voropaev (Russian: Олег Воропаев) managed the Dolls club.[46][47][48] Gazpromgate which occurred before Alexei Miller became head of Gazprom in 2001, allegedly involved stolen money from the CEO Rem Vyakhirev (Russian: Рэм Вяхирев) led Gazprom and was laundered through the Union Development Bank (Russian: Союзный Банк Развития), which Evgeny Suvorov (Russian: Евгений Суворов) was a vice president and was also a member of the Dolls club, using Motor Technology JSC (Russian: АО "Технология моторов") in which Gazprom owned a 49% stake.[47] In September 2017, Tamm was arrested in Marbella, Spain, during the Spanish operation Oligarch (Spanish: operación Oligarca) under suspicion of tax evasion, money laundering, and involvement in the activities of the Solntsevskaya organized crime group.[49][50][51][52][53] Arnold Spivakovsky was the son of Arnold Tamm, who was a writer and Estonian translator of Russian materials, obtained his lastname Spivakovsky from a former wife, and had a civil marriage with Lolita Milyavskaya.[45][49][54][55]
^Sergey Dozhdev (Russian: Сергей Дождев) stated "The real Russian mafia is those who rule the world. In particular, it includes Igor Sechin, a man who took over Sistema through Bashneft and MTS using his offshore companies. The Rotenberg brothers, who control the Platon Company, are in the mafia too. 75 percent of Platon belongs to offshore companies, which the Rotenbergs use to siphon off money to Europe. Arnold Tamm used to co-own Sistema. However, he had a disagreement with the Rotenberg brothers, and Herman Gref ceased the refinancing of loans through his son Arkady. The company incurred artificial liabilities, and Sechin bought it at a low price through offshore companies."[46]
^ abСедунов, Александр (Sedunov, Alexander) (17 August 2015). "25 лет Всемирной Истории с Банком Империал" [25 years of World History with Imperial Bank]. Information Agency InterRight (in Russian). Archived from the original on 23 March 2022. Retrieved 5 April 2022.{{cite news}}: CS1 maint: multiple names: authors list (link)
^ abСтаростин, Дмитрий (Starostin, Dmitry) (24 March 2002). "Кокаин и "Газпромнейт"" [Cocaine and GazpromNate]. «Вести.Ру» (vesti.ru) (in Russian). Retrieved 29 March 2022.{{cite news}}: CS1 maint: multiple names: authors list (link)[dead link]Alt URL Archived as "Газпромовские" круче "солнцевских": "Правая рука" Михася Арноша Спаваковский может не дожить до суда ("Gazpromovskie" is cooler than "Solntsevo": "Right hand" Mikhas Arnosh Spavakovsky may not live to see the trial).
^Хинштейн, Александр (Khinshtein, Alexander) (31 May 2002). "Солнцевское затмение" [Solntsevo eclipse]. Московский комсомолец (in Russian). Retrieved 29 March 2022.{{cite news}}: CS1 maint: multiple names: authors list (link) Archived as Арноша (Спиваковский) подсаживал танцовщиц из стриптиз-клуба Dolls на кокаин (Arnosha (Spivakovsky) hooked dancers from the Dolls strip club on cocaine).
^Natasha Doff and Ksenia Galouchko (December 18, 2014). "Sistema Shares Soar as Putin Says Evtushenkov Charges Not Proven". No. Bloomberg Business News. Bloomberg News. Archived from the original on December 27, 2014. Retrieved December 27, 2014. Russia has seized 71.6 percent of OAO Bashneft from Sistema since ordering Evtushenkov's arrest on Sept. 16 in a money-laundering investigation linked to the state's sale of the oil company in the previous decade.
^Steven Lee Myersand Jo Becker (December 26, 2014). "Even Loyalty No Guarantee Against Putin". The New York Times. Retrieved December 27, 2014. Mr. Rakhimov's government privatized Bashneft, wilth most of its shares ending up in the hands of a company called Bashkir Capital
