Kremlin money in the heart of Kyiv: how ARMA is leaking the Gulliver shopping mall to Russian Dmitry Adamovskiy

Kremlin money in the heart of Kyiv: how ARMA is leaking the Gulliver shopping mall to Russian Dmitry Adamovskiy

A fresh controversy is unfolding in Ukraine over the transfer of a major asset to a Russian citizen. The spotlight is on Kyiv’s Gulliver shopping mall, which is reportedly being handed over to a company controlled by Russian national Dmitry Adamovskyi.

The Asset Recovery and Management Agency (ARMA), which allowed Dmitry Adamovskyi’s company "Alakor City LLC" to participate in the competition, remains silent about how this looks against the backdrop of accusations against the U.S. President related to ties with the Russian government. They also do not comment on how this situation came to be. However, it gives a strong card to those whom our government accuses of "selling out" Ukraine. The same can be said about the opponents of anti-Russian sanctions. Hungary and Slovakia can, with a clear conscience, assert that if Ukraine cooperates with Russians, they can certainly afford to do the same.

Who is Dmitry Adamovskyi, who not only gets one of the largest commercial properties in the capital without resistance but has also been allowed to conduct business in Ukraine throughout the years of the war? He is the son of renowned Ukrainian businessman and public figure Andriy Adamovskyi. His name has repeatedly appeared in scandals related to high-level corruption. In particular, in 2018, his company "Trade Commodity" supplied low-quality fuel to the Ministry of Defence at inflated prices, resulting in the theft of at least 149 million hryvnias from the budget.

However, nothing changed with the change of power – in 2024, the State Rear Operator (SRO) awarded "Trade Granite Invest LLC," backed by scandalous businessmen Vladyslav Yakubovskyi and Dmitry Adamovskyi, a billion-dollar contract for supplying food to the army, which was already fully engaged in the war. Another scandal erupted, which, like previous ones, ended with nothing – the company associated with the Russian citizen continued to supply products for the Armed Forces of Ukraine.

But the surreal situation didn’t end there – six months later, ARMA does everything to transfer one of Kyiv’s largest shopping malls to a firm owned by Russian citizen Dmitry Adamovskyi. This accusation is not groundless – the competition conditions, set by ARMA’s head Olena Duma, show that they perfectly match the capabilities of "Alakor City LLC." The other two firms that expressed interest in the competition were disqualified by ARMA, leaving only Dmitry Adamovskyi’s company "Alakor City LLC."

The fact that the owner of "Alakor City LLC" holds Russian citizenship, and it’s clearly stated in the registers that "Alakor City LLC" is owned by a Russian citizen, did not concern ARMA’s head Olena Duma at all. Neither did the fact that Dmitry Adamovskyi lived in Russia during 2017-19 (at least). By the way, notice not only the red line that Olena Duma "didn’t see" but also the address and website of "Alakor City LLC" – artmall.ua. The Art Mall shopping center became the property of Dmitry Adamovskyi’s father, Andriy Adamovskyi, after a hostile takeover, for which, of course, he faced no consequences, just like for supplying low-quality fuel to the army.

Dmitry Adamovskyi himself claims to be a citizen of Canada, even though it has long been proven that Dmitry Adamovskyi obtained Russian citizenship as far back as 1999. He has not declared his withdrawal from it.

Moreover, Dmitry Adamovskyi conducted business in occupied Crimea under Russian legislation and as a Russian citizen, a fact clearly supported by Russian registers.

The fact that this is the same Dmitry Adamovskyi is confirmed by a document assigning him an Individual Taxpayer Number, issued on January 15, 2025, indicating that as of that date, Dmitry Adamovskyi remained a citizen of the Russian Federation.

Direct evidence of Dmitry Adamovskyi having a business in Russia was not found, although, judging by the connections scheme published by one of the Russian resources, he still has business interests there. More precisely, not in Russia itself but in occupied Crimea. However, under the Russian constitution, Crimea is a part of the federation, and Adamovskyi conducts business there.

Therefore, there is reason to believe that Dmitry Adamovskyi’s business in Russia is not limited to "Krym-Aromat LLC," from which he supposedly withdrew in 2019. Research on his connections suggests that Dmitry Adamovskyi is the owner or co-owner of the Yalta developer "Krymstroy-2012 LLC," "AIC Avsen LLC" (an agricultural enterprise in the Bakhchisarai district), "Burlyuk LLC" (Bakhchisarai district, hotel business), "KFH Riders" (Bakhchisarai district, agricultural business), "Vyklyk Sports Club" (Simferopol), "Avtodom LLC" (Simferopol, transportation services). Incidentally, "Krym-Aromat LLC" not only operates successfully but is also a recipient of state support from the Russian budget.

It should be noted, in this context, that Dmitry Adamovskyi also conducts business in Ukraine not directly but through intermediaries in the form of closed venture funds. In particular, through these venture funds, Dmitry Adamovskyi is an owner or co-owner of at least 36 Ukrainian companies, some of which are also involved in scandals.

Dmitry Adamovskyi is also fond of offshore entities, which are even harder to track than venture funds. However, thanks to the Panama Papers, it has become known that Dmitry Adamovskyi was a co-owner of the BVI offshore company Turitella Corporation, with among his partners the CEO of "Ukrtransnafta," Mykola Havrylenko, and Ihor Filippenko.

And this is just a part, about which there are no doubts. Against this background, the position of the head of the Asset Recovery and Management Agency, Olena Duma, who openly transferred "Gulliver" shopping mall to Russian citizen Dmitry Adamovskyi, seems, to say the least, very strange.