Ukraine accuses the Russian oligarch of financing the invasion

2023-09-05 17:48:00, Aktualitet CNA

The Security Service of Ukraine (SBU) has accused Ukrainian-born Russian oligarch Mikhail Fridman of financing Russia's war against Ukraine.

Fridman is chairman of Alfa Group, a private conglomerate operating mainly in Russia and former Soviet states that includes banking, insurance, retail and mineral water production. He has a net worth of $11.4 billion, according to the Bloomberg Billionaires Index. Fridman is also chairman of Alfa Bank, Russia's fourth-largest financial services firm and its largest private bank.

Alfa Bank was hit last week by sanctions that will prevent it from raising money through the US market. Fridman is one of the few Russian oligarchs who has spoken out against Russia's full occupation of Ukraine. In the early days of the war, he called the conflict a "tragedy" for both Ukrainians and Russians.

The SBU made the following claims in a statement:

Since Moscow began its full-scale invasion of Ukraine, Fridman has "poured" about 2 billion rubles (about $20 million) into several military factories in Russia, including the Tula cartridge factory, which produces ammunition for the military and Urals Optical-Mechanical Plant, which produces high-tech equipment for fighter jets and helicopters.

·He uses the assets of Alfa Group for the mass distribution of dry rations, clothing and other products under the trademark "Russian Army", which are supplied to the military.

·He organized the collection of material and technical assistance for the needs of the Russian forces fighting in Ukraine.

·His insurance companies are providing insurance for military equipment, as well as life and health insurance for Russian soldiers.

The investigators notified Fridman of the charges "based on the evidence collected", the statement added.

"The suspect is currently hiding from justice abroad. Comprehensive measures are being developed to bring him to justice. The perpetrator risks up to 8 years in prison with confiscation of property ," the announcement states.

CNN reached out to Fridman, who declined to comment on the SBU allegations./CNA