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Russian Billionaire Vekselberg to Transfer All Assets to Russia

© Sputnik / Aleksei Druzhinin  / Go to the mediabankRussian billionaire Victor Vekselberg
Russian billionaire Victor Vekselberg - Sputnik International
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Russian billionaire Viktor Vekselberg will transfer all assets registered overseas to Russia, Swiss media reported.

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MOSCOW (Sputnik) — Vekselberg has already transferred some of his holdings to Russia, including assets of Akado, Russian Utility Systems, Orgsyntes Group and Aeroporty Regionov companies, Neue Zürcher Zeitung newspaper reported Sunday.

The newspaper said the move was linked to the tighter regulations Russia imposed on offshore business last year. The representatives of the Russian authorities have repeatedly discussed this issue with Vekselberg, according to the newspaper.

Businessman Vekselberg is Russia's fourth richest man, according to Forbes' 2015 ranking. His fortune is estimated at approximately $13.6 billion. He is an owner and a president of Renova Group, a conglomerate with interests in oil, energy, aluminum and other fields.

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