How Russian Oligarchs Conduct Business in the Air

Meg Godlewski

Monday, February 28, 2022 at 06:22 PM ET

Verified

The Gulfstream G650 often used by Vladimir Potanin, former first deputy prime minister of Russia. [Photo: Anna Zvereva]

Key Takeaways:

Russian oligarchs, wealthy and politically influential business leaders, extensively use diverse private aircraft for their global operations.
Their aircraft are registered across various international jurisdictions, including Russia, Germany, Austria, and several tax havens.
Many oligarchs acquired their wealth through post-Soviet privatization programs, such as the controversial "loans-for-shares" scheme.
Some oligarchs, including Oleg Deripaska and Mikhail Fridman, have used their public platforms to advocate for peace.

See a mistake? Contact us.

There are those who say that you cannot conduct business on a global scale without aviation—it does not matter what part of the world you are in. Russia is no different—it has its share of millionaires and billionaires who use a variety of aircraft ranging from turbine helicopters to executive-outfitted Airbus A319s.

These high-net-worth individuals are collectively known as Russia’s “oligarchs,” a fancy word for a very rich business leader with a great deal of political influence. The aircraft used by this group are registered in the Russian Federation, Germany, Austria, the Cayman Islands, the Isle of Man, Hong Kong, Aruba, and the United States.