Vladimir Putin’s alleged romantic partner, who is said to be the mother of two of his children, reportedly received a substantial £63 million windfall from the finances left over from the construction of a palace linked to the Russian leader.
Alina Kabaeva, a former Olympic gymnast aged 42, has been rumored to have a relationship with Putin since 2008. Speculations suggest that she shares two sons with Putin, Ivan aged 11, and Vladimir aged six, although neither has confirmed their connection.
The opulent palace, situated in Gelendzhik, came into the spotlight in 2021. Despite denials from Putin and the Kremlin regarding its ownership, the property is officially registered under the company ‘Investment Solutions,’ with three of Putin’s close associates listed as shareholders.
The three individuals linked to the company are Ilham Rahimov, Viktor Khmarin, and Nikolai Egorov. According to investigations by FBK, a group founded by the late opposition leader Alexei Navalny, records indicate that the firm received loans from offshore entities based in the British Virgin Islands.
Recent findings suggest that excess funds from the palace construction project were channeled to Putin’s partner through donations to two charitable organizations she is associated with, as per FBK’s claims.
Following the completion of the palace in 2023, a surplus of 6.5 billion rubles (£63 million) remained from the construction loans. A significant portion of this amount, 3 billion rubles (£29 million), was reportedly contributed to the Alina Kabaeva Charitable Foundation immediately after the palace’s completion.
The Alina Kabaeva Charitable Foundation focuses on supporting female athletes and participated in the restoration of a church in occupied Crimea. However, FBK alleges that these initiatives cost significantly less than the funds received and suspects that the remainder was concealed in a deposit account.
As per FBK’s investigation, the remaining 3.5 billion rubles (£34 million) was directed to Kabaeva’s other charity named Heavenly Grace. This non-profit reportedly made a substantial payment to the Imperial Peterhof luxury watch factory, as reported by the independent Russian news site Meduza.
FBK also claims that some of these funds were used for gymnastics camps but suggests that the primary purpose was to allow the alleged children of the couple to socialize with others. The group contends that a large portion of the donated millions was stashed in deposit accounts, labeling these contributions as “slush funds” for Putin’s undisclosed partner.
Putin’s extravagant clifftop palace, overlooking the Black Sea, boasts numerous lavish amenities including a church, ice rink, casino, and hookah lounge, surpassing the grandeur of Buckingham Palace.
Leaked blueprints indicate that the Russian leader oversaw the construction of tunnels approximately 50 meters beneath the palace, covering an extensive area of 6,500 square feet within the underground complex.