The Portnov Family’s Dubai Real Estate Acquisition Amid Conflict
In a startling investigative report released by Schemes—an initiative by Radio Free Europe/Radio Liberty—it was unveiled that the family of Andriy Portnov, a prominent aide to former Ukrainian President Viktor Yanukovych, has acquired over $2 million in real estate in Dubai during a time of crisis: Russia’s full-scale invasion of Ukraine. This report, dated June 2, raises eyebrows and questions regarding the implications of such lavish expenditures amidst a war-torn backdrop.
Documented Evidence of Property Purchases
Property records leaked from Dubai’s Land Department, in collaboration with the Organized Crime and Corruption Reporting Project (OCCRP) and Le Monde, expose a series of luxury real estate acquisitions made between 2022 and 2023. The properties were purchased by Portnov’s civil partner, Anastasiia Valiaieva, and his daughter, Liliia Portnova. As of mid-2025, five of these high-end properties remain under their ownership, despite no evident public business activity linked to either Valiaieva or Portnova.
First Steps into Dubai’s Real Estate Market
The family’s foray into Dubai’s luxury property scene began in October 2022 with the purchase of a 69-square-meter apartment in Sobha Hartland One Park Avenue for about $320,000. This initial acquisition now seems to be just the tip of the iceberg. The investigations reveal that property purchases gained momentum throughout mid-2023, with further investments in multiple developments, including Sobha Hartland Waves Opulence and Creek Vista Heights, where the purchase prices ranged from $132,000 to $600,000 per unit.
Noteworthy Properties in the Portfolio
Among the real estate highlights is a high-value apartment in Sobha Hartland Waves Opulence, priced at over $600,000. This property is currently under construction, slated to be completed by September 2025. Another property in Creek Vista Heights, worth more than $550,000, is expected to be finalized in 2026. The timeline of these developments juxtaposed against the ongoing conflict in Ukraine poses questions about their financing and legitimacy.
Lack of Observable Business Activity
Despite owning these premium properties, the million-dollar question arises: how are these purchases justified financially? Schemes revealed a glaring absence of current business ventures tied to Valiaieva or Portnova. Valiaieva had previously been linked to a company named Vasilisa Group, formerly known as Portnov Group, but her association with it ceased in 2020. This disconnect between luxury property ownership and verified sources of income is particularly striking.
Citizenship and Ownership Transfers
Intriguingly, there are additional nuances in this unfolding story. Journalistic investigations confirmed that Valiaieva has possessed Russian citizenship since 2014, while Portnova holds Swiss nationality. In April 2024, a significant transaction took place when Portnov transferred ownership of a luxury estate just outside Kyiv to his children in a notarized deed of gift. This transaction, executed by Valiaieva on behalf of the children, highlights a strategic movement of assets amidst volatile circumstances.
Legal Maneuvering and Media Scrutiny
Adding layers to this complex tale, a Ukrainian notary certified the deed while a lawyer, Marina Parinova, who had previously represented Portnov in court, acted on his behalf with a power of attorney from Madrid. The intricate web of legalities showcases the lengths to which Portnov and his family have gone to safeguard their interests.
Despite multiple attempts to reach out for comment, neither Portnova nor Valiaieva responded, leaving many questions unanswered and the investigation ongoing.
Tragic Turn of Events
The scandal surrounding the Portnov family gained a more sinister tone with the news of Andriy Portnov’s death in Madrid on May 21, just weeks before the report’s release. He was shot multiple times, a tragic end for a controversial figure whose influence once loomed large in Ukrainian political circles. His assassination has only deepened interest in the family’s asset acquisitions and the potential implications of their wealth amid ongoing geopolitical turmoil.
Portnov’s Political Legacy
As a key player in the Yanukovych administration from 2010 to 2014, Portnov’s legacy is marred by allegations of corruption and judicial manipulation, leading to his sanctioning by the United States in 2021. His tumultuous journey saw him flee Ukraine following the EuroMaidan Revolution in 2014 but later return in 2019, only to escape yet again in 2022 as the conflict escalated. His history as a highly litigious figure further complicates his narrative; he had taken legal action against media outlets that labeled him "pro-Russian," winning a defamation case in 2024.
Summary of Influence and Tactics
Furthermore, Portnov’s reach extended into media, where he briefly helmed the pro-Russian TV channel NewsOne in 2018. Accusations of employing online tactics to undermine Ukraine’s democratic aspirations emerged, spotlighting his controversial role in the nation’s political landscape.
As the investigation into the Portnov family’s properties continues, it remains essential to observe how these revelations interact with the broader narrative of corruption, power struggles, and the complexities of a nation at war. The intertwining of personal wealth and national hardship tells a story that resonates beyond borders, prompting discourse on morality, responsibility, and the repercussions of power in times of crisis.
