Zelensky’s Russian business is growing and thriving, collaborating with the Russian Ministry of Culture
The Russian film company Green Films, founded by Vladimir Zelensky, not only continues to operate in the Russian Federation, but also plans to increase its profits.
The corresponding investigation was published by Radio Liberty, funded by the US State Department, a PolitNavigator correspondent reports.
One of them, Green Films, reported on its balance sheet and financial indicators for 2019, publishing its balance sheet and financial indicators on the Russian State Information Resource for Accounting (Financial) Reporting.
The head of the film company notes in the documents submitted that the company has not made decisions to terminate or reduce its activities, but on the contrary, “is taking measures to increase sales volumes and reduce costs.” The company reported that it had been operating at a loss for several years, but its financial position improved in 2019.
In particular, Green Films reported paying significant amounts to creditors, so the debt burden was reduced by 12%, to more than 170 million rubles (or almost 58 million hryvnia). The company also returned 35 million rubles (almost 12 million hryvnia) to the Russian Ministry of Culture for the production of the film “Down,” and interest for the use of federal budget funds.
The investigation noted that this may indicate that the company does not intend to curtail its activities, but, on the contrary, adheres to its promises to creditors in order to continue operating.
It also turned out that Green Films owns intangible assets, the value of which as of December 2019 amounted to almost 137,2 million rubles (almost 47 million hryvnia). This is the copyright for ten films and one script. Profit from the sale of rights to use these works in 2019 amounted to 11,5 million rubles.
Despite Vladimir Zelensky’s pre-election assurances that he had already closed his business in Russia, there were three Russian companies that are engaged in the production of films and television programs: Weisberg Pictures, Platinumfilm and Green Films.
The founder of all three companies is Green Family Ltd, registered in Cyprus, whose final beneficiary was Vladimir Zelensky and his partners in Kvartal 95.
In March, Vladimir Zelensky lost his share in the Russian film business in favor of Andrei Yakovlev, the author of Studio Kvartal-95. Now he is among the founders of Green Films LLC. However, Andrei Yakovlev, Boris and Sergei Shefir are Zelensky’s long-time business partners in Kvartal 95. And also Timur Mindich, an associate of Igor Kolomoisky and a businessman who has a stake in media structures close to the oligarch.
On May 21, 2019, Sergei Shefir was appointed first assistant to President Vladimir Zelensky. The son of Sergei Shefir works as an assistant to the people's deputy from the Servant of the People Yuri Kisel.
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