When asked about the wedding of Putin’s daughter, Dmitry Peskov, spokesman
for the Russian president, said “We do not give comments on the private lives
of Putin's close relatives."
At the time of the wedding, Kirill - a tall, dark-haired man with rimless
glasses - was a rising star of Russian business, but still only 31. His
fortunes began to skyrocket soon after his wedding to the president's daughter,
a competitive acrobatic dancer who is now helping to oversee a $1.7 billion
expansion of Moscow State University.
According to report Katerina Putin, younger daughter of Russian President
Vladimir Putin got married to Kirill Shamalov, son of an old friend of Putin.
Their wedding celebrations took place in February 2013, at Igora, a small ski
resort that combines beauty and discretion, five people who were there told
Reuters.
Set amid woodland with a
picturesque lake, the resort is co-owned by the family of Yuri Kovalchuk,
another old friend of Putin, and a Cyprus company with undisclosed
shareholders.
One person who attended the event said staffs were told the bride and
groom were named Kirill and Katerina, and that guests wore white scarves
embroidered with the letters "K&K" in red thread. When shown a
photograph of a woman known as Katerina Tikhonova, the source identified her as
the bride. Tikhonova is Putin's younger daughter, as Reuters confirmed in
November.
"Guards were behind every corner, (they) didn't let anyone close to
the celebration," said a staff member at the resort, which has a luxurious
spa complex. "But we knew it was Kirill and Katerina - Putin's daughter -
celebrating marriage."
Within 18 months, Kirill acquired a large chunk of shares in a major
Russian oil and petrochemical processor called Sibur - a stake now worth an
estimated $2.85 billion, based on the value of recent share deals. He also quit
his job as a business manager and set up a company to run his personal
investments.
How did such a young businessman go so far, so fast? A Reuters examination
of Shamalov's career shows that in the summer of 2013, months after he married
Putin's daughter, Kirill opened discussions about buying shares in Sibur from
one of the president's wealthiest friends.
A year later, he was able to borrow more than $1 billion, judging by the
published accounts of his investment company. The loan came from a bank headed
by another longtime associate of Putin, and where Shamalov's brother holds a
senior position. The money was used to make an investment in Sibur that within
months proved highly profitable for Kirill.
Asked about his business deals and the wedding, Kirill Shamalov and Sibur
declined to comment.
The trajectory of Kirill's fortunes sheds new light on how people close to
Putin have taken commanding positions in key companies - and how such
opportunities are now being extended to a new generation. Like the wedding,
much of this transfer of riches has occurred away from public scrutiny.
Vladimir Milov, a former Russian deputy energy minister and now an
opposition campaigner, said Putin's friends had acquired major assets with the
help of lenders with links to the state, such as Gazprombank.
"It's extremely non-transparent, so it is hard to get to and judge
the specifics of the loan agreements," Milov said. "They consider
Gazprombank their pocket bank."
He added: "They are looking to pass on their power and privileges to
a new generation."
Asked about the wedding celebrations and business deals, Dmitry Peskov,
spokesman for the Russian president, said: "Putin's daughters are not
involved in politics or business. The businessman, Shamalov, is well known. As
far as we are aware, all his activities are in line with the laws of the
Russian Federation. For many years he has been in the management of the company
Sibur, and along with other senior managers is a shareholder. His career and
business are not within the sphere of interest of the Kremlin.”
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