Alexey Kuzmichev: Sanctioned Russian Tycoon arrested in France

Alexey Kuzmichev: Sanctioned Russian Tycoon arrested in France

In France, a Russian billionaire was suspected of violating EU sanctions.

At one of the first actions of this kind in France since the beginning of the Ukraine War, Alexei Kusmitschev was arrested in Saint-Tropez on the French Riviera.

The police searched both in Saint-Tropez and Paris land that are connected to the Tycoon, an ally of President Vladimir Putin.

Mr. Kusmitschev's lawyers were not available for an opinion.

As a co-founder of the Russian financial consortium Alfa Group, he was arrested on Monday in connection with alleged money laundering, tax evasion and violations of international sanctions, confirmed French financial prosecutors to the news agency Reuters.

No charges had been raised by Tuesday morning, but he was still in custody, it said.

According to the French daily Le Monde, dozens of police officers took part in razzia in the Parisian house of the 61-year-old and his villa in Saint-Tropez.

It is unclear which sanctions Mr. Kusmitschev violated, but the investigation is carried out by the French anti-corruption authority.

The Kremlin spokesman told Russian news agencies that this would help to protect his rights as a Russian citizen if he wish.

The businessman is listed by the Forbes-Magazin as a 389th richest person in the world with a fortune of around $ 6.4 billion ($ 5.25 billion).

The European Union imposed in March 2022, shortly after the extensive invasion of Russia in Ukraine, sanctions against him and said: "(Kusmitschev) is considered one of the most influential persons in Russia. He has good relationships with Russian presidents." "

The French authorities then confiscated two yachts that belonged to him, La Petite Ourse and La Grande Ourse. Although the proceedings against him were discontinued because of the yachts, they are still subject to an asset lock.

Mr. Kuzmitschev, together with other Russian business representatives, was also on the board of the British investment company Letterone, but resigned in March 2022 on the grounds that it was "the right thing".

He is one of the few Russian billionaires who have stayed in Europe since the invasion of Ukraine, and is said to have reported a legal remedy to cancel the EU sanctions against him.

Image: reuters