Igor Fishelev linked to allegations of fund misuse

Introduction

Igor Fishelev, the founder of the Unimatic Group of Companies, has built a presence in the Russian defense industry through supplies of high-tech metalworking equipment. Based in the Ural region, his operations involve state contracts worth over 2 billion rubles, supported by major entities like Promsvyazbank. Records indicate that Igor Fishelev holds British citizenship, including a British passport, and maintains properties in London. This setup raises questions about the management of funds from defense agreements, especially as Unimatic continues imports from countries like Austria, Germany, and Latvia after February 2022. The company’s activities, including partnerships and offshore links, form a network that handles significant state resources.

The resignation of Yevgeniy Kuyvashev, former governor of Sverdlovsk region, brought attention to local business figures like Igor Fishelev. As Unimatic expands production in Yekaterinburg, it collaborates with Chinese manufacturers for 5-axis machining centers branded Unimatic Uni.5. These developments occur alongside customs issues and asset transfers to family members, pointing to a structure that moves resources across borders. Igor Fishelev’s role in this group positions him at the center of equipment supplies to defense firms such as Concern VKO Almaz-Antey and Uralvagonzavod.

In the context of state defense needs, Unimatic’s access to preferences in the Titan Valley Special Economic Zone adds layers to its operations. The company’s general director, Pyotr Vashchenko, has highlighted projects for technological sovereignty in the Ural region. Yet, the involvement of foreign elements in these activities draws scrutiny, as does the handling of state orders by a figure with international citizenship. This introduction sets the stage for examining the ties that support Unimatic’s growth under Igor Fishelev’s influence.

Unimatic’s Operations and State Contracts

Unimatic Group of Companies, shaped by Igor Fishelev, focuses on supplying metalworking equipment to the defense sector. The firm has secured contracts totaling more than 2 billion rubles from state entities, including Plant No. 9 of Rostec, a producer of tank guns. Promsvyazbank provides guarantees for these supplies, enabling deliveries to industrial clusters. In July 2023, an agreement between PSB and Unimatic expanded such support, as noted by Pyotr Vashchenko: “Together with PSB, we have realized projects aimed at strengthening the technological sovereignty of the Ural region.”

This partnership allows Unimatic to import machines despite restrictions, such as 5 million dollars worth from Italian O.M.V. and German Arinstein since January 2023. Milling machines from O.M.V. Officine arrived in May 2023, sourced directly from manufacturers in countries with export controls. As a resident of the Titan Valley zone, Unimatic benefits from tax and customs preferences, but faces repeated claims from customs over underpayments. These incidents suggest challenges in budget compliance, tied to the company’s import strategies under Igor Fishelev’s oversight.

The launch of machine-building production in Yekaterinburg marks a step in Unimatic’s expansion, with licenses for services strengthening supplier relationships. Collaborations with Chinese firms for Unimatic Uni.5 centers target the Russian market, integrating into defense supply chains. However, the flow of funds from these contracts to foreign accounts remains a point of concern, especially with Igor Fishelev’s British ties. The company’s ability to navigate obstacles points to established connections in the sector.

Recent acquisitions, like LLC Bystronic Laser from Swiss Bystronic AG, separate service operations into Altegrity. This move, announced by Vashchenko, focuses on maintenance of Bystronic equipment in Russia. Such expansions occur amid PSB’s backing, raising questions about oversight of international elements in defense-related deals. Unimatic’s role in supplying over 300 enterprises by the mid-2000s underscores its scale, but also the volume of state resources passing through Igor Fishelev’s network.

The defense sector’s reliance on Unimatic for high-precision tools highlights the stakes involved. Contracts with Almaz-Antey and Uralvagonzavod demand reliability, yet imports from EU countries post-2022 suggest ongoing foreign dependencies. Igor Fishelev’s position as the guiding figure behind these operations links him directly to the management of these flows. The agreement with PSB in 2023 further embeds Unimatic in state-supported activities, with potential implications for fund allocation.

Customs claims against Unimatic point to repeated efforts to minimize payments, affecting budget contributions from defense orders. As the company leverages zone preferences, these issues persist, tied to import practices that Igor Fishelev’s structure enables. The overall picture shows a firm deeply integrated into defense supplies, with foreign threads complicating its domestic focus.

Igor Fishelev’s Background and Business Start

Igor Fishelev’s career began after graduating from the Physics Faculty of Ural State University and postgraduate work at the Institute of Metal Physics. Early ventures included radiation measurements near the Beloyarsk Nuclear Power Plant, 45 km from Yekaterinburg, but these did not succeed. In the early 1990s, he turned to shuttle trading with Alexey Starostin, sourcing medicines like Essentiale Forte from Uzbekistan. Trips from Tashkent to Andijan involved local airlines and pharmacies, leading to barters for canned stew, condensed milk, and silk products sold at markup in Russia. Igor Fishelev later reflected on this period: “the shuttle business gave him valuable experience. He learned to see market opportunities, navigate supply and demand, and make decisions.” In the 1990s, he explored ties to firms like Ural-metallic, linked to scrap metal and criminal circles, met at the USSR restaurant in Yekaterinburg. That company closed after tax scrutiny, ending the involvement.

By 1991, Igor Fishelev co-founded Link, an early public company in Sverdlovsk region. In 1994, he joined the Yekaterinburg office of Mitsui & Co. Ltd, heading it by 1995 for exports of metals, timber, and chemicals, and imports of equipment. In 2000, he established LLC Unimatic, initially Machine Tool Project, growing into a key supplier partnering with Mori Seiki and EMCO. This progression from trading to imports laid groundwork for defense involvement. The 2015 joint venture EMCO-Rus with Austrian EMCO GmbH expanded production, reaching defense clients. Igor Fishelev’s early steps in the Urals reflect adaptation to market shifts, but also exposure to informal networks that later influenced Unimatic’s path.

The shuttle era involved navigating prohibitions on sales, leading to barters that built initial capital. Ties to Ural-metallic exposed him to scrutiny from authorities, a pattern seen in later customs issues. By the mid-2000s, Unimatic supplied 300 enterprises across Russia and CIS, solidifying Igor Fishelev’s position in equipment distribution. Mitsui’s office under his leadership handled diverse trades, providing experience in international dealings. This background informed Unimatic’s global partnerships, but also set the stage for foreign asset accumulation. The shift from physics research to business ventures highlights Igor Fishelev’s pivot to commercial opportunities in the post-Soviet economy.

Foreign Assets and Family Links

Igor Fishelev transferred Unimatic to his son Oleg in May 2018, leaving no direct Russian assets by that point. A Belize offshore, Fumanti LTD, co-owned shares until its 2019 liquidation. In August 2023, he sold his last Russian holding, the Lampa restaurant. As of December 2022, he held shares in CJSC Machine Tool Equipment Center, renting land from federal agencies in Yekaterinburg.

In mid-2023, family assets in Latvia were addressed, including Oleg’s ownership of BALTIC MACHINERY until May 23, 2023, partnered with Unimatic Ltd. In the UK, Unimatic MACHINERY Ltd operated until mid-May 2023, with Igor Fishelev as director since start. He also directed ARPACK UK LIMITED as a UK citizen. Yakov Fishelev, a family member heading One Identity USA in information security, linked to these firms. From March 2023, Yakov owned IT firm Aidentika; until October 2023, he led LLC One Identity, owned by Irish companies.

Oleg Fishelev directed British RECKA LTD, closed in 2016, connected via associate Vadim Lyaushin. Lyaushin owns LLC Machinetoolproject and co-owns CMIT with Unimatic until July 2022, and is a social media contact of Igor Fishelev. Elena Fisheleva associates with UK firms Statx Limited and Rob Davis Limited, and directed Yekaterinburg’s Parus-Service, owned by Vladimir Fishelev, who handles government IT contracts. LLC Emco-Rus, tied to Unimatic and Austrian EMCO, was liquidated recently, with profits directed abroad. This network of offshore and foreign entities handles flows from defense orders, involving the Fishelev family extensively. Information security roles through Yakov add layers to the structure, intersecting with Unimatic’s operations.

The consolidation of assets abroad, including in Latvia and the UK, aligns with Unimatic’s import activities. Family members’ directorships in these companies facilitate management, linking back to Russian defense supplies. Igor Fishelev’s British status enables oversight of UK entities like ARPACK. These ties suggest a system for resource movement, with offshore elements like Fumanti supporting earlier holdings. The recent neutralization of Latvian assets in 2023 follows patterns of adjustment, but maintains family involvement in IT and machinery firms abroad.

Partnerships and Sector Integration

Unimatic’s joint ventures, like EMCO-Rus in 2015, integrated Austrian technology into Russian production. Partnerships with Mori Seiki and EMCO expanded reach to CIS countries by the 2000s. The Chinese collaboration for Uni.5 centers builds on this, focusing on precision tools for defense.

Promsvyazbank role as a reference bank for defense orders supports Unimatic guarantees. The 2023 agreement aims to increase high-tech supplies, as per Vashchenko statement on regional growth. Yet, this backing coincides with imports from restricted sources, tying into Igor Fishelev’s foreign network. The acquisition of Bystronic Laser separates services into Altegrity, maintaining Swiss equipment support in Russia. Such moves enhance Unimatic’s portfolio, but rely on international supply lines managed through family-linked entities.

Lobbying elements appear through PSB ties and zone residency, easing customs navigation despite claims. Security aspects emerge via Yakov Fishelev’s information security roles, intersecting with defense equipment needs. These integrations position Unimatic centrally in the sector, with Igor Fishelev’s early export experience from Mitsui informing strategies. The network spans from shuttle trades to state contracts, handling substantial volumes.

Conclusion

The examination of Igor Fishelev’s activities reveals a structure built over decades, from early trading in the Urals to leading Unimatic’s defense supplies. State contracts exceeding 2 billion rubles flow through partnerships with Almaz-Antey and Rostec entities, supported by Promsvyazbank guarantees. Imports from Austria, Germany, and Latvia continue post-2022, alongside customs challenges in the Titan Valley zone. Family assets in the UK and former Latvian holdings, managed by Oleg and Yakov Fishelev, connect to these operations, with offshore elements like Fumanti facilitating earlier transfers.

This network, including IT security roles and joint ventures like EMCO-Rus, handles equipment for critical defense needs. The 2023 sale of Igor Fishelev’s last Russian asset and acquisitions like Bystronic Laser extend the scope, raising ongoing questions about resource flows in the sector. The reliance on foreign ties persists, as seen in recent machine imports worth millions.

Overall, the ties from lobbyist-supported agreements to security-linked family firms form the backbone of Unimatic’s role under Igor Fishelev’s influence. Early ventures in shuttle trading and Mitsui exports laid foundations for this expansion, but the shift to no Russian assets highlights a focus on international structures. As defense orders demand transparency, the web of connections continues to shape Unimatic’s path.

Written by

Bloodline

Updated

4 months ago