The family of the late Andriy Portnov, a former aide to ex-President Viktor Yanukovych, has made headlines with revelations regarding their substantial real estate investments in Dubai during a tumultuous period for Ukraine. An investigative report by Schemes, a project under Radio Free Europe/Radio Liberty, uncovered that the Portnov family acquired properties valued at over $2 million amid Russia’s full-scale invasion of Ukraine, raising eyebrows and questions about the timing and motivations behind these purchases.
The investigation hinges on property records leaked from Dubai’s Land Department and state-owned utilities, corroborated by collaborations with prestigious organizations like the Organized Crime and Corruption Reporting Project (OCCRP) and the French newspaper Le Monde. It details that between 2022 and 2023, six pieces of real estate were acquired by Portnov’s civil partner, Anastasiia Valiaieva, and his daughter, Liliia Portnova. Notably, five of these properties remain under their ownership as of mid-2025, demonstrating continuity amid chaotic circumstances.
The timeline of purchases is particularly striking. The first transaction occurred in October 2022, when Valiaieva acquired a 69-square-meter apartment in Sobha Hartland One Park Avenue for approximately $320,000. This initial step seemed to pave the way for accelerated investment, as subsequent property acquisitions surged in mid-2023. The family reportedly made significant investments in multiple new developments, including Sobha Hartland Waves Opulence and Creek Vista Heights, with unit prices ranging from around $132,000 to $600,000. This rapid expansion in the real estate market raises eyebrows given the context of ongoing conflict in Ukraine.
Among the properties is one that stands out: an apartment in Sobha Hartland Waves Opulence, valued at over $600,000, which remains under construction with a slated completion date in September 2025. Another property, located in Creek Vista Heights, is expected to cost more than $550,000 and is set for completion in 2026. These high-value investments seem at odds with the financial turmoil that many families in Ukraine have faced due to the war.
Curiously, despite their ownership of these luxurious assets, no public records indicate any ongoing business activity for either Valiaieva or Portnova. Valiaieva previously managed a company called Vasilisa Group, previously identified as Portnov Group, but has not been listed as an owner since 2020. This absence of business activity prompts deeper inquiries into how these acquisitions were financed.
Additionally, the investigation unveiled that Valiaieva has held Russian citizenship since 2014, complicating her profile alongside that of Portnova, who is a Swiss national. Such geopolitical ties may play a significant role in understanding their actions during and after the invasion. In a notable move in April 2024, Portnov transferred ownership of a luxurious estate located outside Kyiv to his children via a notarized deed of gift, conducted through Valiaieva. This act, certified by a Ukrainian notary, adds another layer to the family’s financial maneuvering during this crisis.
Portnov’s death on May 21, 2024, adds an air of mystery and urgency to these revelations. He was shot in Madrid, an act confirmed by Ukrainian military intelligence, leaving unanswered questions regarding the motives and individuals potentially involved in the act. With reports indicating that he was shot five times, leading to fatal injuries to his head and torso, the circumstances surrounding his assassination remain unclear, with no arrests announced following the incident.
At 51 years old, Portnov was once a key figure in the Yanukovych administration, criticized for allegations of corruption and manipulation of the judiciary. His history of fleeing Ukraine following the 2014 EuroMaidan Revolution, and his subsequent return in 2019 only to flee again after the Russian invasion began, paints a picture of a life filled with both controversy and danger. Sanctioned by the United States in 2021, he often found himself at the center of Ukrainian political discussions, particularly concerning his pro-Russian affiliations and the considerable resources he utilized in litigation against media outlets labeling him as such.
Moreover, Portnov’s influence extended into the media landscape — he briefly directed the pro-Russian TV channel NewsOne in 2018 and faced accusations of deploying online bots to undermine support for Ukrainian pro-European reforms. His complex legacy involves not just his political maneuvering but also a personal narrative intimately tied to the political upheaval in Ukraine.
