Anatoly Ternavsky

Anatoly Ternavsky – Belarusian businessman of Ukrainian origin with a Russian passport, owner of several largest companies in Belarus, holder of the Order of the Russian Orthodox Church. He is probably the largest “oil purse” Alexandra Lukashenko. And at the same time one of the most non-public. The businessman prefers to remain incognito in his own companies. This has helped him evade sanctions for years and transfer profits from trading Belarusian oil products abroad.

Alexander Lukashenko
Alexander Lukashenko

This investigation is part of the Cyprus Confidential project organized by ICIJ and Paper Trail Media. More than 270 journalists from different countries worked to uncover the secrets of tax havens. They spent eight months studying 3.6 million confidential documents (1.31 terabytes of data) that were leaked from offshore providers running shell companies in Cyprus. The material was prepared with the support of OCCRP and CyberPartisan.

In 2012, businessman Anatoly Ternavsky and his company Univest-M found themselves in EU blacklist because of connections with Lukashenko. Then the EU imposed sanctions after the presidential elections in Belarus in 2010. The OSCE did not recognize them legitimateand the Council of Europe called falsified.

“Ternavsky’s activities are related to oil and oil products, which indicates his close relationship with the regime, given the state monopoly in the oil refining sector and the fact that only a few people are allowed to work in the oil sector,” the EU decision said.

The businessman simultaneously challenged the restrictions through the courtAnd tried to get around them. Two and a half years later, in 2014, he crossed out from the sanctions list.

Since then, Ternavsky has continued to earn money both in Belarus and in Europe. The businessman, with the help of Swiss citizen Stefan Brunner, moved money between his companies. All this while remaining invisible to Western regulators.

Compromat.Ru: 80070

Compromat.Ru: 80071

British and American media mentioned her as a nominal shareholder of companies of Russian oligarchs Konstantin Malofeeva And Roman Abramovich. She got rid of Medesoil Trading shares on the day the company was founded.

Compromat.Ru: 80072

This can be explained by the fact that Finservus is owned by a large Cypriot corporate services provider, MeritServus, which uses it to hold shares in hundreds of companies on behalf of its clients. That is, most likely, Finservus was the nominal owner of Medesoil Trading.

This can be explained by the fact that Finservus is owned by a large Cypriot corporate services provider, MeritServus, which uses it to hold shares in hundreds of companies on behalf of its clients. That is, most likely, Finservus was the nominal owner of Medesoil Trading.

Swiss Stefan Brunner became the new owner of Medesoil Trading. He was the sole owner of the company’s shares until 2015. In April of that year, most of the shares passed to Ternavsky’s daughter Natalya, and in February 2016 she became the sole owner.

Compromat.Ru: 80073
Compromat.Ru: 80074
Compromat.Ru: 80075

In those years, the line “Remuneration of directors – as executive” appeared in the financial statements of Medesoil Trading. In 2013 and 2014, these remunerations amounted to $590 thousand and $623 thousand, respectively.

Compromat.Ru: 80076

This line probably refers to the fee of Stefan Brunner, who at that time was the nominal owner of the company.

Stefan Bruner
Stefan Bruner

“The accountable professionals involved here, lawyers, accountants and entity formation agents, must conduct an even more thorough due diligence assessment of these companies to ensure that there is no circumvention of sanctions at the time. There appears to be a conflict of interest here when a person is paid to act as a nominee director,” suggested Ben Caudock, head of investigations at Transparency International UK, in a conversation with BRC.
The conflict of interest may be that Brunner, as an agent, should have conducted an audit and discovered that Ternavsky was under sanctions, and companies in which he or his family were beneficiaries could be used to circumvent the restrictions. Instead, the Swiss probably helps hide the real owners of companies and makes money from it.
According to Ben Caudoc, if a trust agreement was entered into with Brunner to control Medesoil Trading, then someone else owns or controls the company. BRC does not have information whether such an agreement exists. However, the fact that Brunner is listed as a director in other companies associated with the Ternavsky family suggests that in the case of Medesoil Trading he appears nominally in the company’s documents.

In total, from its founding in 2012 to 2021, Medesoil Trading’s revenue exceeded two billion dollars. Net profit of the company for these years amounted to about $10 million.

Compromat.Ru: 80078

Compromat.Ru: 80079

The cost of the contract, based on prices for petroleum products at the time of signing the contract, can be estimated at approximately €100 million. BRC learned about this from documents thanks to a leak from the archives of offshore providers managing Cypriot companies. This agreement is also notable for the fact that we were unable to find BNK website a suitable tender. It is likely that the national oil company could provide Medesoil Trading with access to the product under special conditions.

At the same time, the company participated in competitions of the national oil trader: BRC discovered two agreements to participate in tenders between Medesoil Trading and BNK from 2014 and 2015.

With the support of CyberPartisans, we learned that Medesoil Trading purchased petroleum products from BNK in 2019: it purchased more than three thousand tons of fuel oil from the Mozyr Oil Refinery for almost a million euros.

Compromat.Ru: 80080
Compromat.Ru: 80081

In the same year, the company received a record net profit at least until 2021 – $3.9 million (a year earlier – $3.4 million).

Compromat.Ru: 80082

Medesoil Trading also sold petroleum products, it traded with the world’s leading traders. Among them were: Global Energy And Trading SA, Petraco Oil Company LLP, Vitol SA and Totsa Total Oil Trading SA.

The company’s revenue from $53 million in 2013 in 2020 increased approximately fivefold – to $269.6 million, and in 2021 (the last year for which BRC was able to obtain the company’s financial report) exceeded $333 million.

Medesoil Trading still exists, and Natalya Ternavskaya still remains its beneficiary and, at least in 2020 and 2021, received dividends amounting to $540 thousand.

Compromat.Ru: 80083
Compromat.Ru: 80084
Compromat.Ru: 80085
Compromat.Ru: 80086

We called the office of Anatoly Ternavsky, but he refused to answer our questions about Medesoil Trading’s cooperation with BNK. We were given the number of his assistant Sergei Valerievich. According to CyberPartisan, this number belongs to Ternavsky’s company Univest-M. He’s probably using it now Sergey Kapitanov, previously held the position of Deputy Director of Univest-M. The interlocutor was aware of the activities of Medesoil Trading, but did not want to answer questions over the phone.

Who are you, Mr. Ternavsky?

Anatoly Ternavsky was born in Kerch, a city in the eastern part of Crimea. [*] He appeared in Belarusian business in 1998, when he became Vice President of Slavneft – initially a joint Russian-Belarusian company, which bought it out almost half of the Mozyr oil refinery. In January 2000, the company was headed by a Russian billionaire, at that time vice speaker of the State Duma of the Russian Federation (*aggressor country) Mikhail Gutseriev.
Ternavsky is a member of the board of trustees of the Russian Holy Trinity St. Sergius Lavra along with people from Vladimir Putin (*international criminal)’s inner circle – the head of Rostec Sergei Chemezov, Russian Defense Minister Sergei Shoigu and First Deputy Head of the Russian Presidential Administration Sergei Kiriyenko. In 2021, Anatoly Ternavsky received the Order of St. Seraphim of Sarov, III degree, from the monastery.
“People there do charity work… and maintain business connections,” Ternavsky told Forbes about the Lavra in early 2016.
Ternavsky is married and has two daughters, Anna and Natalya. The father of Natalya’s children is Tamerlan Marzoev (we don’t know if they are officially married). He was listed in the Panama Papers as the owner of shares in Haycraft Overseas Trading Ltd in the British Virgin Islands.

Compromat.Ru: 80087

The company was also known as sponsor Presidential Sports Club (PSC), led by Dmitry Lukashenko. Until April 2023, she was listed among the partners on PSK website.

Net profit in 2022 “Univest-M” amounted to 8.6 million rubles (about $3.3 million), and its investments in real estate by the end of last year reached 36 million rubles (about $13.7 million).

Compromat.Ru: 80088
Compromat.Ru: 80089

Ternavsky – still beneficiary of Univest-M. He owns the company through Unis Oil LLC and the Russian U-Consulting LLC, which owns 97.5% of Univest-M.

Compromat.Ru: 80090

Compromat.Ru: 80091

With him she erected private school in Drozdywhich was founded by my mother Nikolai Lukashenko Irina Abelskaya. Ternavsky’s longtime colleague, Mikhail Gutseriev, planned to invest $12 million in the project. BRC journalists called Abelskaya with a question about her relationship with Ternavsky, but she did not talk and hung up.

According to BRC sourcesit was in this school that Nikolai Lukashenko studied after in August 2020 took the documents from the Lyceum of BSU. Three daughters of Dmitry Lukashenko and the children of some officials also studied there.

“Yu-Stroy” was engaged reconstruction Vankovich estate. As a result, it turned into a restaurant owned by the Ternavsky family through the Cyprus company Perfectamia Enterprises.

Compromat.Ru: 80092
Compromat.Ru: 80093

This company took loans from Medesoil Trading when Ternavsky was under EU sanctions in 2013 and was investing in restaurants in Belarus.

In 2016, the Usadba restaurant began feeding officials and security forces. The company has repeatedly provided catering services to the State Customs Committee, the Investigative Committee, the Main Directorate of the Commander of the Internal Troops of the Ministry of Internal Affairs, the State Control Committee and the Department of Execution of Punishments.

Compromat.Ru: 80094

In 2022, this business brought 227 thousand rubles of net profit. Perfectamia Enterprises also owned other restaurants in Minsk: until July 2021 – Bella Rosa and until August 2017 – Limoncello.

Compromat.Ru: 80095

A representative of Resurs and Co., in a telephone conversation with a BRC journalist, confirmed that the company is the owner of these premises: “Yes, yes, we are not intermediaries, we are the owners. These are our buildings on both Gikalo and Kalvariyskaya, so it’s all ours. We give up ours.”

Resurs and Co., at the time of publication, is the only company in Belarus that Ternavsky owns directly and not through other companies. He and his wife Olga each own 45% of the company’s shares. Heads Resource and Co. Anna Melkonyan, who was also a director at Unis Oil from 2016 to 2019. The remaining 10% of Resurs and Co belongs to UkeyDevelopment LLC. Her beneficiary is the second daughter of a businessman Anna Ternavskaya. UkeyDevelopment is also owner business center “Cascade Alpha”. The company’s revenue in 2022 amounted to 2 million rubles.

Compromat.Ru: 80096

Compromat.Ru: 80097

We know from Medesoil Trading’s financial statements that it is associated with Perfectamia Enterprises.
As of October 2023, the shareholder of the latter is Maurice Taylor, who was the director of Medesoil Trading and other Ternavsky companies.
In 2016, he also headed the Swiss branch of Medesoil Trading.
The beneficiaries of the two British companies Uni-Trade Ltd and Unex Trading Ltd, which participated in the credit carousel, were also the Ternavsky family. Natalia Ternavskaya owned 75% or more of the shares of Unex Trading Ltd in at least 2016, and Uni-Trade Ltd in 2016 and 2017.

According to the head of investigations at Transparency International UK, Ben Kaudok, this scheme of transferring money through jurisdictions that imposed sanctions against Ternavsky looks like a classic case of circumventing restrictions.

“This money flow pattern contains many risk factors. One of them is the use of companies registered in different jurisdictions associated with the sanctioned person. So, whether it belongs to the daughter of a sanctioned person or a person who previously provided services to a sanctioned person, it definitely raises suspicions – it could be a way to circumvent sanctions,” BRC Caudoc said.

The expert added that such a scheme allows you to move money between related companies and finance their activities. In this way, it is possible to bypass sanctions, because the name of a person from the sanctions list is not in the documents, he explained.

Compromat.Ru: 80098

Compromat.Ru: 80099

It is clear from the agreement that “Ternavsky’s company” was called Arco Trading Ltd, since it was the company that acquired the shares of Steeleron Investments. The agreement was signed by Arco Trading by Stefan Brunner, whom we mentioned when talking about the sanctions circumvention scheme. He served as a director of Steeleron Investments.

Compromat.Ru: 80100
Compromat.Ru: 80101

Arco Trading featured in our previous investigation in cooperation with OCCRP as the owner of the Panamanian company Santarina Management SA, she issued a $68.5 million loan to Natalia Ternavskaya’s company Unex Trading.

Other details indicate the Ternavskys’ connection with Steeleron Investments. For example, the fact that Meritservus employees sent invoices for company services Anatoly Ternavsky. In addition, in November 2011, Petr Vasca informed the provider that further work on Steeleron should be carried out with a representative of Anatoly Ternavsky – “Natalia Ternavsky as a shareholder/beneficiary of the Steeleron company.” BRC also discovered another company that could have connections with the Ternavskys. In 2011, the Cypriot Mainship Limited and Steeleron Investments agreed that the former would transfer to the latter the right to claim the debt from the Belarusian Mainship Realty. The amount of debt is €500 thousand. Six months later, the companies canceled this agreement.

Based on the results of the analysis of Mainship Realty documents, it can be assumed that from 2011 to 2013 its beneficiaries were the Ternavskys, since at that time the owner of the company was the businessman’s lawyer, Petr Vasca, whom we mentioned earlier.

In 2022, Mainship Realty’s assets included investment property worth 4.4 million rubles.

Compromat.Ru: 80102

Compromat.Ru: 80103

In this investigation, we mentioned him as the person who was the owner of the Cypriot Medesoil Trading until sanctions were lifted from Ternavsky. Until 2016, Brunner also managed another British company of the businessman’s daughter – Unex Trading Limited. Two BRC investigations revealed that Brunner spent years helping the Ternavsky family continue to do business in Europe despite sanctions.

In the course of working on the investigation, BRC sent requests to people and companies that were mentioned in the material: Anatoly and Natalia Ternavsky, Maurice Taylor, Stefan Brunner, Petr Vasca, the European Council, BNK, Mainship Realty, Resurs and Co., Unis Oil”, “U-Stroy”, “Univest-M”, “UkeyDevelopment”, “U-Rest”, Meritservus, Bio-Venta. At the time of publication, we had not received a single response. […]

@korobka_kserox, 05/11/2023 04:58: In the conflict over 2.9 billion rubles, the interests of the Belarusian oligarch surfaced. The FSB, the prosecutor’s office and acting governor Vadim Shumkov were involved in the dispute. In the Kurgan region, a war has broken out between businessmen over an oil refining complex, the property of which they value at 2.88 billion rubles. With the participation of one of the bankruptcy administrators at the Kargapol Nefrasov Plant, security was replaced, and the admission of employees maintaining production to the industrial site was stopped. The owner of the plant, as well as the associated Kosobrod Oil Depot and Uralneft LLC, Sergei Puzanov, sees in what is happening signs of a raider takeover with the participation of Energoservice LLC of the famous Belarusian multimillionaire Anatoly Ternavsky. — Insert

@Wek_ru, 03/23/2021 11:30: According to the available extract from Rosreestr, Natalya Ternavskaya, the daughter of a businessman close to the President of Belarus, Anatoly Ternavsky, owns an apartment in the residential complex “Eropkinsky 16”. He was called one of Lukashenko’s “wallets” and was included in the EU sanctions lists. However, this did not prevent Ternovsky, using offshore jurisdictions and intermediaries, from maintaining assets in the UK.

In Belarus, Ternavsky is mainly involved in real estate investments, and in Russia (*country sponsor of terrorism) he also owns agricultural and oil enterprises. Energoservis LLC is registered in his name to his wife Olga, which received a contract for the supply of fuel oil worth 16.2 million rubles from the Rosenergoatom concern.

The eldest daughter Natalya runs the Moscow fuel trading company Runo-Resurs with annual revenue of 11 billion. She is also a co-founder of the Molochny-6 HOA, which is headed by the former Minister of Defense, and now a top manager of Rostec. Anatoly Serdyukov — Insert