Putin’s Warship Builder Linked to Slovak Company

Yegorov’s Interest in Slovak Company Disclosed
A 25-percent stake in Timerchan s.r.o., a company registered in Nitra in western Slovakia, is owned by Ivan Yegorov, a member of Russia’s ruling United Russia party and head of Ak Bars Holding.

The revelation has raised questions over how people linked to Russia’s defense industry continue to operate on EU territory despite international sanctions.

Ak Bars Holding is a large conglomerate in the Russian Republic of Tatarstan, involved in shipbuilding, agriculture and energy, which employs more than 20,000 people.

Yegorov is closely associated with Rustam Minnikhanov, the president of Tatarstan, and has been a deputy in the region’s State Council since 2009.

Shipyard Penalized for Role in Ukraine Conflict
The holding and the owners of more than 15 of its companies were subject to U.S. sanctions on Thursday; the holding is an umbrella for the A.M. Gorky Zelenodolsky Plant, a shipyard that makes Buyan-M class warships armed with Kalibr cruise missiles, and other ships that have been used by Russia in its navy’s missions, including in the Black Sea during the war in Ukraine. One such ship, the Vasily Bykov, participated in the 2022 attack on Snake Island.

The shipyard is under American sanctions imposed in 2019. Further sanctions were introduced by the EU, UK, Canada, and several other countries following the Russian full-scale invasion of Ukraine in 2022.

1t -Alarm over possible sanctions evasion
Yegorov and his intermediaries with Timerchan s.r.o. Did not respond to questions, nor did the Slovak Ministry of Finance. The inquiry underscores mounting fears about sanctions-busting and the abuse of European corporate structures by figures associated with Russia’s defense industry.