Sergei Pugachev

Sergei Pugachev
Born Sergei Viktorovich Pugachev
(1963-02-04) 4 February 1963
Kostroma, Soviet Union
Nationality  France
Occupation businessman, public figure, politician
Spouse(s) Alexandra Tolstoy-Miloslavsky (civil partnership)
Children four sons and daughter
Website www.pugachevsergei.com

Sergei Viktorovich Pugachev, also spelled Sergey Pugachyov, (Russian: Серге́й Викторович Пугачёв; born 4 February 1963 in Kostroma, USSR) is a businessman, public figure, and politician. A billionaire, Pugachev was a major influence on Russian politics, helping to get both Boris Yeltsin and Vladimir Putin elected President of Russia. In 2001, he became a senator, a position he served for ten years.

Early life and business career

Pugachev holds a PhD in Engineering Sciences,[1] and is a member of the Russian Academy of Engineering,[2] and honoured worker of the Republic of Tuva.

With perestroika came greater opportunities for private enterprise. By the time of the collapse of the USSR, Pugachev had already established a career as an independent businessman with international investments in projects in the European Union, USA, and Russia. These projects were primarily in finance, development, infrastructure construction, mechanical engineering, shipbuilding, media, and biotechnology.

In 1990, Pugachev and some of his associates created Severny Torgovy Bank (Northern Trading Bank or NTB). In 1991, Pugachev moved to Moscow and opened an NTB branch. However, his business partners wished to continue to focus on St Petersburg, and so he separated from NTB. In 1992 he withdrew his capital from NTB and had no further involvement with the bank.

In 1992 Pugachev created International Industrial Bank (the Bank, also sometimes referred to as Mezhprombank or IIB). However, in 2001, he again, moved on to other investments, severing all ties with the bank. In 2001, Pugachev acquired a controlling stake in the Russian television channel 'Channel Three'.

In 2004 Pugachev established Obyedinennaya Promyshlennaya Korporaciya (OPK), one of Russia's largest diversified corporations, managing assets worth more than 300 billion roubles.

Among the shipbuilding assets of the OPK are some of the largest enterprises in the industry - shipyards Severnaya Verf, Baltyisky Zavod and Design Bureau Iceberg. During the years in which they were in operation, the shipyards handed over warships and civilian vessels to a total value of $3.2 billion.

The largest energy asset of the OPK was Yeniseiskaya Promyshlennaya Kompaniya (EPC), which lead the development of Elegest, one of the world's largest coking coal deposits.

In 2004, Pugachev signed an agreement with the Office of Presidential Affairs to redevelop the Middle Trading Rows on the Red Square in Moscow.

Political career

After arriving in Moscow, Pugachev became increasingly involved in politics. During the 90’s Pugachev was the advisor to the Head of the Presidential Administration, in 1996 he became one of the leading forces behind the election campaign of presidential candidate Boris Yeltsin. After his successful election In July 1996, Pugachev was honored with the Letter of Gratitude from the President of the Russian Federation Boris Yeltsin "For great contribution to the development of Russian democracy and participation in the preparation and execution of the national elections campaign."

In 1998 he was a member of the Russian delegation to Washington headed by the Minister of Finance Mikhail Zadornov, for talks on the support of Russia by the International Monetary Fund and the World Bank following the August default.

During 1999 – 2000 Pugachev was one of the key players during the election campaign of Vladimir Putin, and subsequently, took on the role of economic advisor to the President’s administration.

At the beginning of 2000, President Putin oversaw a raft of economic reforms aimed at stimulating the economy and entrenching the free market. Pugachev, who increasingly saw his role as being at the junction of Russian politics and economics, felt that he could contribute to his country’s future in other ways than through business. As a member of the board of the Russian Union of Industrialists and Entrepreneurs, he was part of an organisation whose main activity was initiating new draft bills and improving existing legislation in relation to economic and financial matters.

From November 2000 to January 2003 he was the Vice-President of the Russian Union of Industrialists and Entrepreneurs.

On 24 December 2001, Pugachev was elected as an independent member of the Federal Council (the upper house of the Russian Federation) of the Government of the Republic of Tuva in southern Siberia (his candidacy was supported by approximately 80% of Tuvan deputies). Pugachev's primary duty as a senator was to work on preparing drafts of new laws for implementation. He, together with the help of his 10-strong staff, worked on a number of projects including the anti-corruption law (which was ultimately adopted by the Russian Parliament). He also worked actively to promote the interests of the Tuva region. During his time as a senator, Pugachev personally oversaw several development projects in the Tuva region and made charitable donations to projects in the region, including towards a new museum and the restoration of a number of community churches. In this role Pugachev served 10 years - until 2011.

In addition to his duties as a senator, Pugachev was a member of several parliamentary committees, including the Committee on Federal Affairs and Regional Policies. He was also an adviser to the Head of the President’s administration.

Leaving Russia

Pugachev became a French ciitzen in 2009.[3] By 2011, Pugachev was under investigation by the Russian government for embezzling loans from the government to Mezhprombank.[3] Pugachev argued the charges were politically motivated and left Russia to live in London, where he has a house with his partner and children.

Despite living in the UK, Pugachev was not free from his legal battles, as the Russian government used the London courts to target him. Most of his $15 billion fortune was frozen in 2014, under a worldwide freezing order issued by the Chancery Court and upheld by the Court of Appeal.[3] In June 2015, despite a court order to stay in Britain, Pugachev fled the country and turned up in Nice, France.[3] In September 2015

Family

Pugachev is in civil partnership with Alexandra Tolstoy-Miloslavsky. They have two young sons and daughter.

Pugachev also has two grown-up sons from his first marriage - Victor and Alexander.

References

  1. ↑ Пугачев Сергей Викторович
  2. ↑ Члены Академии
  3. 1 2 3 4 Harding, Luke (July 28, 2015). "Sergei Pugachev: 'Putin's banker' now lives in fear of man he put into power". The Guardian. Retrieved July 28, 2015.

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