Politics9/14/2025Bloomberg

Russia Targets Billionaire’s Empire Over Alleged Ukraine Links

Russia Targets Billionaire’s Empire Over Alleged Ukraine Links

The Russian government has targeted the business empire of billionaire Denis Shtengelov over alleged links to Ukraine. Shtengelov, who built his confectionery company from humble beginnings in Siberia into a global enterprise with billions in revenue, is now facing increased scrutiny and pressure from the Russian authorities. The article suggests that the crackdown on Shtengelov's business is part of a broader effort by the Russian government to tighten control over the country's oligarchs and their assets, particularly those with perceived ties to Ukraine. The article does not provide specific details about the nature of Shtengelov's alleged connections to Ukraine, but it indicates that the Russian government is using these claims as a pretext to exert influence over his vast business empire. The story highlights the complex and often opaque relationship between Russia's political leadership and its wealthy elite, as well as the ways in which geopolitical tensions can have far-reaching consequences for individual businesses and their owners.

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