Putin's Former Son-In-Law Heads Ozero Cooperative Society
3- 18.10.2024, 3:13
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Kirill Shamalov has become the eighth head of the co-operative in its history.
Kirill Shamalov, the former husband of Russian dictator Vladimir Putin's daughter Katerina Tikhonova, has become the chairman of the board of the Ozero dacha cooperative society, reports Important Stories, citing SPARK-Interfax data.
The update in the system appeared on October 15. Before that, the Ozero cooperative society had been headed for a little over a year by Alexander Antonov, whom Novaya Gazeta called a ‘nominal’ manager who had nothing to do with business operations on a federal scale.
Shamalov became the eighth head of the cooperative society in its history. The society itself was founded by his father, Nikolai Shamalov, and Putin in 1996. The Ozero cooperative society has become a symbol of nepotism in Russia. After Putin became president, his long-time friends and members of the society - Yuri Kovalchuk, Sergei and Andrei Fursenko, Vladimir Yakunin and others - took high positions, the publication said.
Shamalov and Tikhonova married in 2013, after which the son-in-law of the head of state received shares in Sibur, Russia's largest petrochemical company. According to Important Stories, he paid just $100 for 3.8 per cent of the company's shares - which was 3.8 million times cheaper than their market price.
In 2014, Shamalov increased his stake in the company to 21% with a loan from Gazprombank and became the country's youngest dollar billionaire - he was 32 at the time. In January 2018, Bloomberg reported that Shamalov and Tikhonova had divorced.
Since the start of the full-scale invasion of Ukraine, Shamalov has been under sanctions from 27 countries: the EU, the UK, the US, Canada, Switzerland, Japan, New Zealand, Australia and Ukraine.
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