Russia's Baimskoye Copper Project Linked to Kazakh Billionaires and Deputy PM Trutnev's Family
An investigation reveals that Russia's Baimskoye copper deposit in Chukotka, valued over 1 trillion rubles, is tied to Kazakh billionaires despite U.S. sanctions. Originally owned by Roman and Alexander Abramovich, it was sold to KAZ Minerals, controlled by Vladimir Kim and Oleg Novachuk. Following sanctions, ownership shifted to Palmira Severa, managed by Ruskapital, previously linked to Dmitry Trutnev, son of Deputy PM Yury Trutnev. The project has received significant state support, with foreign individuals appearing to be the ultimate beneficiaries.
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The Baimskoye copper deposit, Russia's largest Arctic investment project, has connections to Kazakh billionaires amid U.S. sanctions. The deposit, valued at over 1 trillion rubles, was initially owned by Roman and Alexander Abramovich before being sold to KAZ Minerals, controlled by Vladimir Kim and Oleg Novachuk.
After sanctions were imposed, ownership transitioned to Palmira Severa, managed by Ruskapital, which was linked to Dmitry Trutnev, son of Deputy PM Yury Trutnev. The construction of the processing plant was managed by Vega Development, controlled by a Dubai entity associated with Kim.
Infrastructure work is also supported by Northern Engineering Solutions, tied to Novachuk's partner. The project's benefits appear to favor foreign individuals.
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