Unseen and Unsanctioned, Belarusian Tycoons Slipped into the EU via Lithuanian Investments

Alexei Aleksin and Alexander Zaytsev have emerged as two of the wealthiest businessmen in Belarus. What are they doing in Lithuania?


Key Findings

  • Aleksin and Zaytsev began to receive generous economic preferences from dictator Alexander Lukashenko in the aftermath of 2012 sanctions against his regime. Around the same time, they managed to obtain Lithuanian residency permits and opened companies there.
  • The nature of their activities in Lithuania raise serious questions about what they are doing in the EU member state.
  • Aleksin registered a company in an abandoned building, then used it to buy an apartment where two more firms are registered. Supposedly trading in car parts, these firms had no employees but moved 46 million euros through their accounts in under two years.
  • Zaytsev structured his Lithuanian investments in a complicated way, with ownership running through Cyprus and the Netherlands. The companies registered in Aleksin’s apartment were set up similarly.


For the full report (Website): Press Here


by  Sarunas Cerniauskas and Stas Ivashkevich, March 10, 2021, published on OCCRP

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