“After the annexation of Crimea, we never ever went here. Genuinely, I’m uncomfortable even thinking about this type of trip. I’m maybe maybe not certain that i will calmly withstand the abundance of tricolors. Nevertheless the Crimea associated with the past fills me personally with just bright memories”, – said famous comedian Andrei Chivurin in an meeting with Segodnya. For pretty much 17 years he worked being an editor associated with the Russian KVN on Channel One, but following the annexation of Crimea in 2014, he terminated agreement aided by the television that is russian. Today, Chivurin may be the editor-in-chief associated with popular in Ukraine comedy show “League of Laughter”.

Chivurin has resided together with spouse Larisa for over three decades. In line with the comedian, because of her are economic manager in a big construction business, your family could remain afloat whenever their KVN passion failed to bring money that is much.

Today Larisa Chivurina controls a stake that is large the construction and development business TMM and continues to be its economic manager. A joint research by present Time and “Municipal Scanner” found that she, in breach of European and Ukrainian sanctions, additionally has a hotel in annexed Crimea through a few overseas organizations. Because of the fact that the Uk branch for the world’s biggest depositary bank, Bank of the latest York Mellon, normally tangled up in this scheme, the Crimean company of Chivurina may break the US sanctions.

From Yalta to Ny

During the entry to your Yalta boarding house “Sevastopol” visitors are greeted by a flying tricolor. The retirement has a outdoor pool and fitness center, plus some spaces have actually views for the Ebony water. Based on former visitors, the hotel hasn’t been fixed for quite some time. The typical cost for an evening in a two-level space for three individuals when it comes to summer months is 10,000 rubles ($ 156), and per night for just two will definitely cost on average 6,000 rubles ($ 94).

Based on the research by present Time and “Municipal Scanner”, despite the truth that TMM formally offered the boarding household up to a Russian LLC, exactly the same individuals remain the beneficiaries through European organizations. Back 2014, the draft of European sanctions companies that are prohibited the EU from starting brand brand brand new companies and spending to the tourism industry in annexed Crimea.

OOO PANSIONAT SEVASTOPOL is made and registered when you look at the registry that is russian of entities in Yalta 2 yrs following the imposition of sanctions on August 17, 2016. One % associated with business is one of the manager Viktor Laktionov (he could be additionally the director that is general of TMM-Yalta business created when you look at the annexed Crimea in July 2014), the residual 99% is owned because of the Cypriot TMM PROPERTY DEVELOPMENT PUBLIC LIMITED (previously ESPINA HOLDINGS LIMITED).

13.11percent of TMM REAL-ESTATE DEVELOPING PUBLIC LIMITED itself is owned by the Uk BNY (NOMINEES) LIMITED, since 1985 registered in London. It gives banking and investment services and is a subsidiary associated with Bank of brand new York Mellon, Inc. – The world’s largest depository bank with asset value of $ 35.8 trillion at the time of September 2019

BNY Mellon told Current Time that they only handle assets on the part of their customers, but declined to touch upon problems associated with TMM and a potential violation of sanctions.

«We carefully always always check the assets for the customers we hold on tight their behalf for conformity with international and laws that are local. If required, we raise difficulties with the authorities that are relevant. We will not offer any further comment», – had written Sorrel Beynon, deputy manager of communications during the bank.

Present Time talked with Maya Lester, Queen’s Counselor focusing on EU sanctions law, and Eric Ferrari, US sanctions attorney, of a feasible breach of us financial limitations as a result of BNY Mellon. Both attorneys consented that much is dependent on the dwelling of relations amongst the relative hq associated with bank and its own European subsidiary.

That they have a connection with the USA and their activities in Crimea, if the parent company in the USA works on the principle of sharing services with the support of its foreign subsidiary, the parent company in the USA could potentially be liable if we consider. But it isn’t really a breach. All of it is based on the reality. Just the workplace of Foreign Assets Control (OFAC) can see whether it really is within their jurisdiction to inflict punishment, – said Eric Ferrari.

Present Time additionally delivered needs for the violation that is possible the OFAC, which monitors and imposes sanctions in america, therefore the British Treasury’s unique committee for conformity because of the sanction regime. In the period of book associated with the investigation, divisions failed to react.

The directors of the direct owner of the “Sevastopol” boarding house – Cypriot TMM REAL ESTATE DEVELOPMENT PUBLIC LIMITED – included from 2011 to 2018, including the period of violation of European sanctions

• Nicholas Enukidze – former Chairman regarding the Bank of Georgia Supervisory Board and previous Managing Director for business Finance at Concorde Capital;
• Dutch resident Maarten van den Belt – former CEO of Visa Global for the CEMEA area;
• Another manager is Uk resident Dominic Dreyfus, a completely independent member of the TMM board in Germany. He could be additionally a user of the board of directors of FBME Bank (functions in Russia, Cyprus and Tanzania) and president associated with review committee at the British and United states Investment Trust Plc.

Another 86.88% of this Cypriot owner of another Cypriot controls the boarding house business TMM Holdings Limited. And 0.2% each was presented with to Larisa Chivurina, deputy basic manager of Ukrainian TMM for legal problems Yuriy Isaev, manager associated with Kiev branch of TMM Pavlo Chislovsky, and basic manager for the entire TMM team Nikolay Tolmachev. The past audit that is available associated with the business through the Cyprus company sign up for 2015 listings 19 subsidiaries, among which there are lots of divisions of TMM. A duplicate for the report can be acquired to editorial workplace.

The same Larisa Chivurina owns a 91.5% stake in TMM Holdings Limited, with Isaev, Chislovsky and the chief engineer of Kiev TMM Vladimir Ustinov each controlling 2.83% at the same time. Chivurina and Tolmachev may also be directors with this company that is offshore. A member of the board of directors of the Ukrainian Construction Association, and general director of the Ukrainian TMM-Energobud, which in 2016 supplied tens of tons of pipelines to Rosatom in Ukraine, the latter is the vice president of the non-governmental Construction Chamber of the country. Tolmachev has also been granted the continuing state prize of Ukraine in the area of technology and technology.

One resort, two owners

During a job interview with present Time, Larisa Chivurina and Yuri Isaev confirmed that both the Cyprus organizations additionally the boarding home into the Crimea that is annexed belong them, but categorically rejected they had been running regarding the peninsula. Based on them, that they had to start OOO “Pansionat Sevastopol” after the annexation to be able to preserve their property.

“The Ukrainian business TMM has lost control over property found in the Crimea. The company that is ukrainian perhaps maybe not violate either the sanctions associated with the eu or Ukraine regarding working in Russia. We don’t do any”, – Isaev stated. Later in a discussion, he confirmed that the resort really has two owners – based on the Ukrainian property registry, it is Kiev-based TMM, and based on the Russian registry, the resort is owned by Cypriot organizations through a company that is russian. The ultimate beneficiaries are Chivurina, Isaev, Chislovsky and Ustinov in both cases.

During the exact same time, guests of “Sevastopol” continue to go out of reviews on tourism discussion boards as well as in tourist applications. And Pension Sevastopol LLC, 99percent of that is owned by Cypriot TMM real-estate Public Limited managed by Chivurina, submits taxation reports to Russia. In accordance with Chivurina and Isaev, they cannot get a handle on the resort.

“There is really spanish singles A ukrainian company tmm, which until recently had been the property owner, and, in theory, continues to be the owner associated with the resort even today. De jure, I Am Talking About. There clearly was a non-resident that is certain, through corporate governance, acquired the rights and therefore indirectly somehow became the owner”, – Isaev stated about businesses whose ultimate beneficiaries are he along with his peers.

After having a CT correspondent revealed documents through the Russian registry of legal entities, showing that in 2016 the Cyprus TMM real-estate Public Limited started and spent very nearly $ 1.2 million in A russian business in annexed Crimea, Chivurina and Isaev replied in silence. They don’t think about this action a breach of EU sanctions, which prohibit European organizations from developing and spending within the tourism sector, and ensure that Cypriot businesses perform just a function that is corporate.