On Tuesday, associates of the late opposition figure Alexei Navalny unveiled an investigation claiming that a lavish palace situated on the Black Sea coast in Crimea, which was annexed by Russia, is owned by President Vladimir Putin.
The inquiry conducted by Navalny’s Anti-Corruption Foundation (FBK) indicated that construction at Cape Ayasite continued after Crimea’s annexation in 2014, with the completed residence significantly surpassing previous structures that Ukrainian media had once referred to as “Yanukovych’s dacha.”
Before the annexation occurred, in 2007, the land was acquired by the family of former Ukrainian President Viktor Yanukovych, who later distanced himself from any involvement in its construction. Following Russia’s takeover of Crimea, local authorities suggested that the unfinished estate could be handed over to Russian authorities, and ultimately, it was assigned to the Presidential Property Management Department based on earlier reports.
According to Navalny’s allies, the Cape Aya estate was subsequently claimed through a network of firms associated with Yury and Boris Kovalchuk, businessmen often regarded as part of Putin’s close circle. FBK noted that the ownership arrangement resembles those previously identified at other locations tied to the Russian president, including a residence near Lake Valdai and a grand palace near Gelendzhik.
The investigation referenced technical documents requiring oversight from Russia’s Federal Protective Service, responsible for Putin’s security, as well as contractors linked to other sites allegedly utilized by the president.
FBK revealed floor plans of the Cape Aya estate featuring a private medical center, spa amenities, an indoor swimming pool, and a cinema, in addition to a separate guesthouse with views of the Black Sea.
Navalny’s allies estimated the value of the Crimean property to be around 10 billion rubles (approximately $127 million).
The Kremlin has not yet responded to these allegations.
In 2021, Navalny’s team released a highly viewed investigation into a different palace along Russia’s Black Sea coast, which they claimed was constructed for Putin through a network of shell companies and was valued at over $1 billion.
At that time, the Kremlin rejected those assertions, but the video contributed to nationwide protests occurring shortly before Navalny’s imprisonment.
