Medvedev-Linked Foundations See Massive Funding Surge Amid Ukraine War
Russia's Ukraine invasion, raising concerns about wartime profiteering and influence."/>
As Russia’s full-scale invasion of Ukraine in February 2022,foundations connected to Dmitry Medvedev,the former Russian president,have seen their assets balloon by approximately $850 million,according to an investigation by RFE/RL’s Systema. This financial surge coincides with Medvedev’s transformation into a vocal online hawk and his continued role in key government positions.
the investigation highlights a notable increase in funding flowing to these organizations, raising questions about the sources and uses of these funds during a period of intense conflict. The foundations’ financial records reveal a dramatic shift in their financial standing.
Medvedev’s Foundations: Pre-War vs. Wartime Funding
Prior to the full-scale invasion,between 2015 and 2021,15 foundations linked to Medvedev received around 28 billion rubles (approximately $424 million at the prevailing exchange rates). However, from 2022 to 2024, that figure skyrocketed to over 130 billion rubles (about $1.39 billion), with a considerable portion of this influx occurring in the past year alone. By the end of 2024, these organizations held a total of 86.4 billion rubles ($850 million), a significant jump from the 23.5 billion rubles ($316 million) they possessed at the end of 2021.
These funds have been allocated to various recipients, including Russian forces involved in the conflict in Ukraine and real estate ventures seemingly connected to Medvedev, spanning from St. Petersburg to the Black Sea coast, according to Systema’s findings.
Did You Know? …
Dmitry medvedev served as President of Russia from 2008 to 2012, before returning to the role of Prime minister under Vladimir Putin.
Nasha Pravda: A Key Player in Supporting the “Special Military Operation”
One notable foundation, Nasha Pravda (Our Truth), openly states that it has spent 2.4 billion rubles in the last two years to support the “special military operation,” the Kremlin’s term for the war in Ukraine. these expenditures have included the procurement of thousands of drones,night-vision goggles,generators,medical equipment,and other essential supplies. Aleksei Sidyakin, head of United Russia’s central executive committee, has stated that Nasha pravda was established at Medvedev’s initiative.
The foundation has actively collaborated with the United Russia party. For instance, in February 2025, they jointly provided a Russian military unit with equipment valued at over 14 million rubles ($177,000), as reported on the foundation’s website. Medvedev’s son, Ilya, a member of the United Russia party since September 2022, participated in the ceremony, identified as a project director within the party committee.
real Estate Connections and Allegations of Hidden Wealth
While most of the foundations provide limited details regarding their spending targets, evidence suggests that some funds have been channeled, directly or indirectly, to support real estate projects with apparent links to Medvedev. This issue has been a subject of public scrutiny since the late Aleksei Navalny’s Anti-Corruption Foundation (FBK) released a report exposing a network of mansions, yachts, vineyards, and other assets allegedly secretly owned by Medvedev during his tenure as prime minister.
the FBK report identified alleged Medvedev residences in various locations,including Plyos,the Kursk region,Rublyovka,and Sochi,as well as a winemaker called Skalisty Bereg and several yachts.Systema’s investigation revealed that many of the properties mentioned in the report remain connected to foundations associated with Medvedev.
In March, Nasha Pravda partnered with Skalisty Bereg, which owns vineyards near Anapa, to assist with cleanup efforts following a major fuel-oil spill in December. As of December, skalisty bereg is controlled by foundations linked to Medvedev, and Ilya Medvedev serves on its board of directors.
In December 2022, FKK, a firm owned by a foundation linked to Medvedev, acquired Makna, a management company overseeing the dilapidated Shingary resort, located near Skalisty Bereg. Demolition of the resort commenced shortly after, and FKK purchased several plots nearby while leasing land from makna, suggesting potential plans for a new growth.
Closer to St. Petersburg, Medvedev’s hometown, a foundation named Nevsky acquired a two-story cottage on the city’s outskirts in 2023 and a dacha in Pavlovsk in 2024, where Medvedev spent his childhood summers and visited as president in 2009.
Requests for comment from Medvedev, Nasha pravda, Nevsky, and Skalisty Bereg went unanswered. The CEO of FKK hung up upon learning a journalist was calling and did not respond to subsequent inquiries.
Medvedev’s Transformation and Rising Popularity
Medvedev’s public image has undergone a significant transformation as the full-scale invasion of Ukraine. During his presidency (2008-2012), he was often portrayed as a relatively liberal figure, advocating for reform and greater freedoms. Though, after Putin’s return to the presidency in 2012, Medvedev’s role shifted, and he became prime minister.
Following his demotion and removal as prime minister in January 2020, Medvedev’s public trust rating stood at under 23 percent at the end of 2021, compared to Putin’s 65 percent, according to state-funded pollster VTsIOM. Though, by June 1, Medvedev’s trust rating had doubled to 45.7 percent,surpassing all Russian political figures except Putin and Prime Minister Mikhail Mishustin. His Telegram channel, launched shortly after the invasion, has become a platform for his hawkish rhetoric against Ukraine and the West, making him one of Russia’s most popular bloggers, with posts averaging over 1.8 million views.
Medvedev’s social media posts have frequently included attacks on Western governments, warnings for Kyiv, and veiled threats of nuclear attack. In 2023, he even suggested bombing the Bundestag in Berlin. last week, he stated on Telegram that Russia’s goal in the first direct peace talks with Ukraine in three years was not peace but “ensuring our swift victory and the complete destruction” of the government in Kyiv.
The United States, the European Union, Britain, and other countries have imposed sanctions on Dmitry and Ilya Medvedev in connection with Russia’s war against Ukraine.
Did You Know? …
Dmitry Medvedev’s Telegram channel has become a significant platform for disseminating his views and engaging with a large audience.
Key Financial Figures: Medvedev-Linked Foundations
| Metric | 2015-2021 | 2022-2024 |
|---|---|---|
| Total Funds Received | 28 billion rubles ($424 million) | 130 billion rubles ($1.39 billion) |
| Assets at Year-End | 23.5 billion rubles ($316 million) (2021) | 86.4 billion rubles ($850 million) (2024) |
source: RFE/RL’s Systema Investigation
How might these findings impact international relations and sanctions against Russia?
What measures could be taken to increase openness and accountability in the funding of these foundations?
Evergreen Insights: The Context of Russian Foundations
The use of foundations and non-governmental organizations (NGOs) as vehicles for financial activity is a common practice globally. Though, in the context of Russia, these entities have frequently enough been scrutinized for their potential links to political figures and their role in facilitating various activities, including those related to geopolitical objectives. The lack of transparency surrounding the donors and beneficiaries of these foundations raises concerns about potential conflicts of interest and the misuse of funds.
historically, Russia’s relationship with international norms of financial transparency has been complex. While the country has made efforts to comply with international standards, concerns remain about the enforcement of regulations and the potential for circumvention. The findings regarding the Medvedev-linked foundations highlight the ongoing challenges in ensuring accountability and transparency in the Russian financial system.
The surge in funding to these foundations during the Ukraine war underscores the importance of understanding the financial networks that support Russia’s military and political activities. Further investigation and analysis are needed to fully understand the sources and uses of these funds and to assess their impact on the conflict and the broader geopolitical landscape. Similar patterns have been observed in other countries, where foundations are used to advance specific political or economic agendas.
Frequently Asked Questions About Medvedev and His Foundations
What is the meaning of the funding surge in medvedev-linked foundations?
The significant increase in funding to foundations connected to Dmitry Medvedev since the start of the Ukraine war raises concerns about potential wartime profiteering, the sources of these funds, and their ultimate use. It also highlights Medvedev’s continued influence within the Russian government and his role in supporting the war effort.
How is Nasha Pravda foundation supporting the “special military operation”?
Nasha Pravda foundation has openly stated that it has spent 2.4 billion rubles in the last two years to support the “special military operation” by providing drones, night-vision goggles, generators, medical equipment, and other essential supplies to Russian forces.
What are the alleged real estate connections of Medvedev-linked foundations?
Evidence suggests that some funds from medvedev-linked foundations have been used to support real estate projects with apparent links to Medvedev, including properties identified in a report by Aleksei Navalny’s Anti-Corruption Foundation (FBK). These properties include mansions, yachts, and vineyards in various locations across Russia.
Why has Medvedev’s public image changed since the Ukraine war?
Medvedev, once seen as a relatively liberal figure, has adopted a more hawkish stance since the Ukraine war, using his Telegram channel to launch attacks on Western governments and issue warnings to Kyiv. This transformation has coincided with a rise in his public trust rating.
What sanctions have been imposed on Dmitry and Ilya Medvedev?
The United States, the European Union, Britain, and other countries have imposed sanctions on Dmitry and Ilya Medvedev in connection with Russia’s war against Ukraine.
How clear are the financial activities of these Medvedev-linked foundations?
The financial activities of these foundations lack transparency,with limited information available about their donors and beneficiaries. This lack of transparency raises concerns about potential conflicts of interest and the misuse of funds.
What role does Ilya Medvedev play in these foundations and United Russia?
Ilya Medvedev,Dmitry Medvedev’s son,is a member of the United Russia party and has participated in events related to Nasha Pravda foundation. He is identified as a project director within the party committee and serves on the board of directors of Skalisty Bereg, a winemaker controlled by foundations linked to his father.
Disclaimer: This article provides news and analysis and should not be construed as financial or legal advice.
share this article and join the discussion! What are your thoughts on the funding surge in Medvedev-linked foundations? Subscribe to world-today-news.com for more breaking news and in-depth analysis.
