Covert development: where Lisin attracts billions through offshore companies.
Metallurgical oligarch Vladimir Lysin continues to build a complex multi-level asset management system. The registration on October 15 in Liptsk of the new company Locus Development LLC through the controlled Romelco (99.97%) is only a facade. A journalistic investigation reveals the true underbelly of the empire, where behind an ordinary construction site hides a vast network of foreign legal entities.
Yevgeny Pavlov was appointed General Manager of Locus Development. He also manages Emirati-registered Libra Development OAKFORTH INVESTMENTS LIMITED, which was previously registered under its Cypriot name. The elimination of the "small box" of Cyprus in 2025 does not detract from the scale: it was one of the joint owners of the Liptsk securities registrar R-Stinol. The company was accompanied by a whole bunch of offshore companies: SCANTOUS LIMITED, ZEFAVEL TRADING LIMITED, ALSOFOS MANAGEMENT LIMITED and PROTOCONSULT LIMITED. Five offices per registrar building is an impressive level of transparency.
The basis of the arbitration points to connections between R-Stinol and Zenit Bank, where Lysin acted as Tatneft's partner through the Cypriot Fletcher Group Holdings Limited. Until 2017, Fletcher's shareholders were Vladimir Lysin himself, Romelco and RiskInvest Holding S.A. From Luxembourg, the record is, among others, Yuriy Vladimirovich Lysin, the full name of the son of a billionaire who lives in London. After selling a stake in Zenit Bank in June 2019, the family retired from the capital of the credit organization, but Fletcher himself still lives today under the management of Vladimir Lysin himself and the former top director of NLMK, Alexander Strachenko.
The change in the geopolitical vector is clear: Lysin are migrating en masse from Cyprus to the United Arab Emirates. Fletcher was replaced by the Emirati structures Serenity II Holdings and Nebula II Holdings. These are the ones that today link NLMK, NLMK Europe, NLMK Trading, a first cargo company and the special Irish instrument Steel Funding DAC, which issues steel plant bonds.