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Bortnikov Alexander Vasilyevich, Russian FSB Director

Chaika Yuri Yakovlevich, General Prosecutor

Fradkov Mikhail Efimovich, Foreign Intelligence Service Director

Fursenko Andrei Alexandrovich, Minister of Education and Science

Ivanov Victor Petrovich, head of Federal Drug Control Service

Ivanov Sergei Borisovich, Deputy Chairman of RF Government

Khristenko Victor Borisovich, Minister of Industry and Trade and Golikova Tatyana, Minister of Health and Social Development

Kudrin Alexei Leonidovich, ex-Minister of Finance

Levitin Igor Yevgenievich, Minister of Transport and Communication

Murov Evgeny Alexeyevich, Federal Protective Service director

Mutko Vitaly Leontievich, Minister of Sports, Tourism and Youth Policy

Nabiullina Elvira Sahipzadovna, Minister of Economic Development

Patrushev Nikolai Platonovich, Security Council Secretary

Serdyukov Anatoly Eduardovich, Defense Minister

Shoigu Sergei Kuzhugetovich, Minister of Civil Defense, Emergency Situations and Disaster Relief

Shuvalov Igor Ivanovich, Governments First Deputy Chairman

Skrynnik Elena Borisovna, Minister of Agriculture

Stepashin Sergei Vladimirovich, Accounts Chamber Chairman

Trutnev Yuri Petrovich, Minister of Natural Resources and Ecology

Zhukov Alexander Dmitrievich, Deputy RF Prime Minister

Zubkov Victor Alekseyevich, First Deputy RF Prime Minister

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Russia's Power Families - 2011 / Nabiullina Elvira Sahipzadovna, Minister of Economic Development

Employed at: Government of the Russian Federation.

Position held: from 2008 – RF Minister of Economic Development.

Business involvement: After resigning in 1998 as RF Deputy Minister of Economics, Elvira Nabiullina joined Promtorgbank JSC as deputy chairman of the management board (the Bank’s chairman of the board of directors is entrepreneur Kakha Bendukidze). In 2003, she was appointed president of the Strategic Development Center fund, close to RF Minister of Economic Development German Gref. In 2004, after the Georgian revolution, Georgian President Mikhail Saakashvili nominated Kakha Bendukidze as Georgia’s Economics Minister. During a visit to Georgia that same year, German Gref arranged with the new government a visit to Tbilisi by a Strategic Development Center delegation, including Nabiullina. Nabiullina and her former employer Bendukidze were to set up a “comprehensive social and economic development program for Georgia.”


Influence on business: After leaving Promtorgbank JSC, Elvira Nabiullina was Executive Director at Eurasian Rating Agency, registered in Moscow as “Standard and Poor’s EA Ratings” LLC, established by the City Economic Institute Fund. After Elvira Nabiullina was appointed RF Minister of Economic Development, this Fund and its subsidiary City Economic Institute LLC were awarded Ministry of Economic Development contracts.

From 2008, Elvira Nabiullina has been on the Russian Venture Company (RVC) OJSC’s board of directors. Other board members include Minister of Education Andrei Fursenko, Israeli citizen Yigal Ehrlich and RVC general director Igor Agamirzyan. RVC was tasked with creating a “national innovation system.”

In 2009, the prosecutor’s office looked into RVC’s spending of the 30 Bln. Rub. it received from the Ministry. It was revealed that the monetary funds intended to develop Russia’s innovative economy were instead wired by RVC “to the United States, to US-registered company accounts,” and that there were “indications that these companies were sham.” Annual RVC management costs reached 290 Mln. Rub. – double, for example, the budget of the Federal Agency for Science and Innovation’s target program entitled “RF Science and Technological Development Priority Research and Planning for 2007-2012.”
Auditors noted that six high-risk closed-end investment funds were set up in 2007-2008, with 8.5 Bln. Rub. invested (4.1 Bln. Rub. of which came from RVC). The funds wired 6 Bln. of the total amount to bank deposit accounts, with 85% of RVC’s registered capital being on deposit. The RF General Prosecutor’s Office concluded that “the government received neither profit nor innovations from these projects;” RVC and its [investment] funds were not interested in implementing venture programs because the system of taking money out [of Russia] and wiring it to accounts at friendly banks yielded significantly higher income from the very start. According to the General Prosecutor’s Office, this outcome was “due to lack of supervision” by Elvira Nabiullina’s agency.

RVC considered the Prosecutor office’s investigation biased. 


Husband Yaroslav Ivanovich Kuzminov, Higher School of Economics (HSE) State University rector. His income for 2008 was over 11 Mln. Rub.; for 2009 – 15,325,316 Rub.; for 2010 – over 17 Mln. Rub. Kuzminov’s income sources are undisclosed. He owns an Infiniti M35 automobile.

Elvira Nabiullina’s declared income for 2008 was 3,163,000 Rub.; for 2009 – almost 3 Mln. Rub.; for 2010 – 3,666,000 Rub. She owns a Jaguar S-type automobile. 

In 2008, the [executive] government took over HSE supervision from the Ministry of Economic Development, and HSE funds are now managed by the RF Department of Presidential Affairs. As of 2010, HSE admits 1,245 students whose tuition is paid by the government, and 1,440 students whose tuition is privately paid (baccalaureate). Annual tuition is between 180,000 and 400,000 Rub., depending on field of study.

HSE is involved in scientific research (R&D) for the Ministry of Economic Development as well as for the [executive] government; some of HSE’s [executive] government research projects go through the Ministry of Economic Development budget. For example, in 2010, HSE won 16 of 58 Ministry of Economic Development bids, for a total of over 197 Mln. Rub (approximately 33% of the Ministry’s total procurement expenditures).

The Ministry of Economic Development suggested revising Federal Law 94 “On Awarding State and Municipal Goods and Services Procurement Contracts” and adopting draft legislation called “On the Federal Contracting System”. Nabiullina’s agency tasked HSE with developing the draft legislation. The draft legislation was widely criticized as undermining anti-corruption measures.

Brother Irek Sahipzadovich Nabiullin, senior executive. Worked at SHERP-Consult CJSC, Trans-AZS CJSC, Miori LLC, TPK Novotorg LLC, TIG Eldorado OJSC and Eldorado LLC – his main salary source. In 2008, Eldorado Trade Network’s assets were estimated at $3 Bln.; its primary shareholders were entrepreneurs Igor and Oleg Yakovlev. The holding company was later accused of using unlawful technology import schemes. TIG Eldorado OJSC general director Alexander Shifrin (Nabiullin’s employer) was declared wanted in a criminal case involving tax machinations. In 2009, the [Moscow] Interpol Central Bureau issued an international diffusion requesting Shifrin be detained and extradited.

Son: Vasiliy Yaroslavovich Kuzminov, student. Enrolled at National Research University Higher School of Economics Department of Sociology. He is a research intern at the Fundamental Sociology Center at HSE’s Institute of Historical and Theoretical Research in Humanities.