Gazprom Neft Prospers; Dyukov’s Wealth Grows Amid Sanctions

‘Gazprom,’ severely affected by sanctions, is suffering significant losses, and only ‘Gazprom Neft’ within the entire holding continues to generate profit and dividends. The chairman of the board of ‘Gazprom Neft,’ Alexander Dyukov, also feels excellent, with an annual income of more than 4.6 billion rubles. As discovered by Russia vs. World, he has registered luxurious real estate on the French Riviera for his family and can still fly there undisturbed, as he has not fallen under EU sanctions.

At the end of last year, ‘Gazprom Neft’ overtook its parent company, ‘Gazprom,’ in market capitalization. The ‘daughter’ of ‘Gazprom’ maintained its lead at the beginning of 2024, according to data from the Moscow Exchange. For Dyukov, outperforming Alexey Miller is not new. In the late 1990s, Dyukov was Miller’s boss at the Sea Port of St. Petersburg (Dyukov headed the port, and Miller worked as the director for development and investments). This biographical detail is significant because, in the early 90s, the Sea Port, with the support of the St. Petersburg mayor’s office, where Vladimir Putin then worked, was transferred under the control of individuals associated with a criminal group, and all participants in this story made a brilliant career under Putin as president.

Dyukov has been leading Gazprom Neft for 17 years and has simultaneously headed the Russian Football Union for the last five years. Almost immediately after Russia’s full-scale invasion of Ukraine, Dyukov fell under British sanctions. But his troubles ended there: neither the European Union nor the United States included the head of the state company in their blacklists.

A company established by Alexandra Dyukova, Valexa, was registered with two land plots: a swimming pool and a house. The purchase price was 12.5 million euros (1.2 billion rubles at the current rate). The villa has seven toilets and five bedrooms, and near the pool, there is also a separate house with a sauna and shower.

Dyukov is a shareholder of ‘Sibur.’ He owns a minority package of Russia’s largest gas processing and petrochemical company. The main owners are Gennady Timchenko and Leonid Mikhelson. Despite these oligarchs’ closeness to Vladimir Putin, ‘Sibur’ has not fallen under sanctions and exported its products to Europe during the war.

Dyukov owns shares of ‘Sibur’ through LLC ‘Uran.’ Russia vs. World documents show that he received 3.9 billion rubles as dividends in 2022.

As a result, Dyukov’s annual income from Sibur and Gazprom Neft exceeds 4.6 billion rubles. Thus, Dyukov even outearned the head of ‘Rosneft,’ Igor Sechin, who is content with just three billion.”

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