The largest exporter of coal from the occupied territories is linked to the son of former Ukrainian President Viktor Yanukovych. The coal is shipped to Turkey and other countries, while the money is funneled into offshore accounts, according to a report by the russian publication "Important Stories".
A company close to Oleksandr Yanukovych, "Energoresurs", registered in a dilapidated building on the outskirts of Rostov-on-Don, has exported nearly half a million tons of coal abroad over the past two years, primarily to Turkey.
The official owner of the company is Aleksei Ivanov, who had no previous involvement in the coal market. Since at least 2016, Ivanov has worked for various legal firms associated with Oleksandr Yanukovych.
The director of "Energoresurs", Pavel Zemlyakov, may also be linked to Yanukovych's business empire. In phone records, he is listed as "Pavel DSFC", referring to the Donbas Settlement and Financial Center, a group of coal processing plants that Ukrainian media previously attributed to Oleksandr Yanukovych.
"The scheme is simple: coal is sold offshore at a low price, avoiding export duties. The offshore entity can then resell it anywhere at any price, keeping all the profits", - the media report explains.
Although customs declarations list the coal as "russian", it is actually mined in the Donetsk and Luhansk coal mines. It is then exported abroad by structures connected to Oleksandr Yanukovych.
Between 2023 and 2024, these entities exported nearly half a million tons of anthracite, formally via the Uspenskaya and Gukovo stations. The money for the coal goes to offshore accounts in the British Virgin Islands, while the coal itself is shipped to Turkey and other countries.
Before 2022, Bulgaria, Estonia, the Czech Republic, and Romania were among the coal recipients from "Energoresurs". However, in 2022, the European Union banned the purchase of russian coal.
Currently, almost all of "Energoresurs'" coal goes to Turkey. Between 2021 and 2023, the company earned 3.5 billion rubles in revenue at a "modest, transfer price".