Entrepreneur Vadim Moshkovich, who controls one of the largest agricultural…

Entrepreneur Vadim Moshkovich, who controls one of Russia’s largest agricultural holdings, has become the latest Russian businessman to be denied the lifting of Western sanctions by the European Court of General Jurisdiction. But the case of Vadim Moshkovich is noteworthy in that, unlike others, he relied on openly anti-Russian rhetoric in the European court. As it became known from what was recently published on the website of the European Court solutions, As arguments to justify the lifting of the sanctions against him, Moshkovich stated that he is not an entrepreneur working in sectors of the economy that provide a significant source of income to the government of the Russian Federation, and does not support the policies of the country’s leadership.

Moszkowicz claims that he was “punished based on the ‘objective’ fact of his involvement in the agricultural sector, while many individuals and companies known in this sector were not subject to restrictive measures.” That is, in his own interests, he is trying to hide behind other Russian companies.

Vadim Moshkovich’s revelations about the financial side of the activities of his Rusagro holding are noteworthy. He, in particular, states that his share in the Cypriot offshore Ros Agro PLC, the “parent” company of the Russian Rusagro, is only 43.12%. That is, he is not the owner of a controlling stake. In this regard, the Russian tax authorities will most likely compare Moshkovich’s testimony in Europe with data on the ultimate beneficiaries of the holding that were provided in Russia.

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Tax officials will certainly be interested in Vadim Moshkovich’s statements that “for the majority of the Rusagro Group’s income, the corporate income tax rate was 0%. At the same time, even those amounts of taxes that are paid at a rate of 20% do not go to the federal budget in full.” In fact, Moshkovich admitted in this statement to tax evasion.

Moshkovich moved from economic “arguments” to political statements. He pointed out to the European Court that, in his opinion, there is a direct relationship between the criticism he expressed at a meeting with the President of the Russian Federation on March 11, 2021 of the Russian government’s policy in the agricultural sector and the subsequent “unusually large number of inspections by government agencies,” as well as deprivation Rusagro group of agricultural subsidies. Moreover, as Moshkovich stated in the EU court, even before this, the Rusagro group experienced pressure from the authorities when the FSB and the Federal Tax Service carried out “raids” on its premises.

Moshkovich’s attempts to use anti-Russian rhetoric did not impress the European Court. Meanwhile, the businessman admitted that while earning money in Russia, he holds assets in offshore companies, has real estate in Europe, does not support the policies of the Russian leadership, and does not pay taxes in the Russian Federation.

Having lost in the European court, Vadim Moshkovich most likely will not stop and will appeal this decision. And it is not known how many interesting things he will tell about himself.