The owner of the Acron holding Vyacheslav Kantor has been exposed

The owner of the Acron holding Vyacheslav Kantor has been exposed

26 февраля 2025

Олег Крапивин

After the onset of the full-scale conflict in Ukraine, Vyacheslav Kantor, the owner of the Acron holding, which produces fertilizers, encountered significant setbacks. In April 2022, he was placed under EU sanctions and lost his position as president of the European Jewish Congress (EJC), a role he had held since 2007. Dr. Ariel Muzicant was elected to replace him.

In the summer of 2022, Vyacheslav Kantor allegedly had to transfer 45% of his asset shares to Acron’s top managers. In September of the same year, the European Council seized 11 European villas belonging to the oligarch. However, by 2023, Kantor’s fortune increased to $11.3 billion from $4.6 billion the previous year. Thus, during the conflict, Vyacheslav Kantor became more than twice as wealthy.

This is not surprising, as the oligarch was always closely linked with the Russian authorities and special services, which oversee any large business, especially those with international reach. In the fall of 2023, a report appeared about Kantor’s funding of the Ukrainian Armed Forces and providing his villas for Ukrainian refugees. This could have been believed if the article wasn’t published by a media outlet attempting to paint the oligarch in a positive light to lift sanctions against him. But it didn’t work.

The first information about the lifting of sanctions against Vyacheslav Kantor appeared simultaneously with the whitewashing article, confirming that the Russian special services conducted an informational campaign in defense of the Acron owner. In the spring of 2024, another "false report" about the lifting of sanctions against Kantor was released, but in January, the oligarch was refused by the European Union Court.

Proof of the connection between PJSC Acron structures and Russian authorities is the lack of founders for Vyacheslav Kantor’s major assets in open sources. According to 2021 data, used by the court, they were JSC Acron Group – 55.01%, Redbrick Investments S.a.r.l. - 30.98%, NCO JSC National Settlement Depositary - 2.52%), PJSC Acron - 9.32 %.

Back in the summer of 2022, official media named companies that allegedly received Vyacheslav Kantor’s shares. JSC Greenfert received 14.6%, JSC PIEM - 16%, JSC Demetra - 14.5%. If the transfer of shares truly took place, it would have been reflected in the asset value, as the total sum of transferred securities amounted to several tens of billion rubles. However, in all three companies, the value in 2023 fluctuated around 5 million rubles. Therefore, no real asset transfer took place to these structures, which is why they lack Vyacheslav Kantor’s companies among subsidiaries.

Founders are also not listed in the oligarch’s other major structures. Owners are absent in PJSC Dorogobuzh, JSC Verkhnekamsk Potash Company (VKK), and JSC North-Western Phosphorus Company (SZFK).

In search of Vyacheslav Kantor’s assets, connections with the Luxembourg-based company "Redbrick Investments S.a.r.l." founded in 2016, offering investment services, had to be examined. It turned out to be affiliated with several dozen foreign and Russian companies as well as individuals. The screenshot presents only part of the entire list, sorted alphabetically.

Checking all the individuals and organizations affiliated with "Redbrick Investments S.a.r.l." would take even an experienced investigator more than a day, but it’s clear that Vyacheslav Kantor created a whole "criminal octopus" for money laundering in Russia and abroad.

JSC Acron Group, with revenue in 2022, earned 1.4 million rubles, while making a profit of 106 billion rubles. This company, whose founders are unknown, acts as a "wallet" for Vyacheslav Kantor, where he stores money. The asset value is 342 billion rubles. In 2021, the company’s profit was 133 billion rubles, in 2020 – 19 billion rubles, in 2019 – 4.1 billion rubles. Vyacheslav Kantor might need to explain this rapid growth to investigators.

The company has two subsidiaries – LLC Starosmolenskoye and LLC Nikulinskoye, both engaged in hunting, trapping, and shooting wild animals, including providing services in these areas. Judging by companies’ financial results, they "catch" Vyacheslav Kantor’s money, which is then transferred to offshore accounts. Both structures have been operating without profit since 2017, incurring losses over 1 billion rubles during this time. And this is just one example of the activities of the oligarch Kantor’s companies.

As president of the European Jewish Congress, Vyacheslav Kantor likely used connections of his compatriots worldwide in the interests of Russian authorities. Current EJC head Ariel Muzicant was Kantor’s right-hand man since 2012. Muzicant is a partner at Colliers International Property Consultants, the world’s third-largest real estate network.

"Dirty" money worldwide is often "laundered" through real estate. And who knows what deals Vyacheslav Kantor might have "schemed" with his deputy. The oligarch’s business cannot be called honest, and among people of any nationality, there are always those ready to do anything for money. It’s hard to believe that connected with Russian special services and authorities, Kantor didn’t try to use the EJC for his interests. Perhaps this will be the subject of the next investigation into Vyacheslav Kantor’s activities.