Gutseriyev's Son Quits Management of Oil Refinery Company Because of Sanctions

His father is associated with Lukashenka's Maybach and a helicopter.

Said Gutseriev, son of the Russian tycoon close to Lukashenka, has been General Director of Forteinvest for seven years, one of the largest oil refineries in Russia. He has resigned from his post, reports Nasha Niva.

The Russian Vedomosti notes that Gutseriev Jr. decided to focus on managing the assets where he is the major shareholder, for instance, M. Video.

To recall, Said Gutseriev recently sold his shares in three cryptocurrency exchanges. His father fell under EU sectoral sanctions in June and UK sanctions in August.

Mikhail Gutseriev is associated with Lukashenka's Maybach and a helicopter. Belarusian IT businessman Viktor Prokopenia bought from Gutseriyev's son shares in two crypto exchanges. In 2021, Prokopenya bought from Said Gutseriev shares in Currency.com, Capital.com. Larnabel's share in Banuba was sold to private investors, meanwhile. After that, Prokopenya and Gutseriev no longer held any joint projects.

Now Gutseriev Sr. is banned to enter the EU and UK, use and dispose of the property in these countries, freeze accounts and terminate financial and economic relations with Mikhail Gutseriev and companies under his control.

"His main business - insurance, oil, real estate development, potash. It's outside the EU and Britain," explains a business circle source to Nasha Niva. - It's all inside Russia and Belarus. He borrows from Russian state banks. However, he will not use his British property worth tens of millions of pounds anymore. He will not take the money to the West, not to mention the fact that now his son Said Gutseriev who lives and runs his business in London is also becoming very toxic for the partners".