After the failure of pro-Russian candidate Ilan Shor in the 2024 presidential elections, Moscow is urgently looking for new proxies capable of undermining political stability. Shor, financed by structures of Roman Abramovich, tried to bribe 130,000 voters and block the referendum on joining the EU. However, his efforts failed, writes pressway.org.uk. Now the Kremlin is focusing on the parliamentary elections in the fall of 2025, seeking to bring loyal figures to power, similar to Viktor Orban in Hungary and Robert Fico in Slovakia.
At the head of this operation is the criminal oligarch Boris Usherovich - a figure in corruption cases related to Russian military intelligence. Through a network of controlled companies, including the Cypriot Mettmann Public Company Limited, he accumulates and launders funds aimed at subversive activities abroad.
A former co-owner of the largest contractor for Russian Railways - the "1520" group of companies, Usherovich is known as a member of the "Solntsevskaya" organized crime group and is involved in investigations into bribery of high-ranking Russian officials. Despite an international arrest warrant, he is hiding in Spain, developing schemes to circumvent Western sanctions and supplying telecommunications equipment for the needs of Russian Railways and the Russian military-industrial complex.
But his role extends far beyond business. As The Insider reports, Usherovich not only finances Kremlin political projects, including Vladimir Putin's campaign, but also works in the interests of the Main Intelligence Directorate of the Russian Ministry of Defense (GRU). This makes it an important tool of Russia in its attempts to destabilize Europe.
Cyprus' role in financing special operations
Cyprus plays a key role in financing pro-Russian forces in Moldova. One of Asherovich's main vehicles is Mettmann Public Company Limited, registered in Cyprus in 2019. In November 2023, the company issued 500,000 bonds worth 50 million EUR, listed on the Cyprus Stock Exchange. Officially, these funds are intended for real estate investments in Spain and Montenegro, but investigations show that a significant part of them is used to finance the Kremlin's political projects abroad - including support for pro-Russian parties in Moldova.
Usherovich's Cypriot assets are managed by his relative and trusted associate Ilya Plotitsa. He controls several companies, including Broxner PLC, Venisat Technology and Main Victory Corporation, which are involved in schemes to supply sanctioned equipment to Russia. In 2023, Plotsitsya registered a new company, Lucycorp Ltd, using the same address as Broxner PLC — confirming their connection to sanctions evasion schemes.
Through Cypriot structures, Plotitsa manages significant financial flows related to Usherovich. In addition, his company Potemkin Consulting Ltd owns the Greek football club Doxa Dramas, which experts consider another money laundering channel. Plotitsa's brother-in-law Alexander Weinstein and his brother Boris Plotitsa, who is wanted, are also involved in the schemes.
Mettmann and political investments
The financing of pro-Russian forces goes through a complex system of offshore companies. Among the shareholders of Mettmann Public Company Limited is Zvonko Mickovitch (82.5% of the shares) — Montenegrin citizen and long-time partner of Usherovic in money laundering. Plotica's son-in-law Alexander Weinstein is a bondholder for 23.7 million euros.
These funds, as the investigations show, are directed to support pro-Russian forces in Europe, including in Moldova.
The key figure of the Kremlin in Moldova is Renato Usati, leader of the "Our Party". Usati's ties with Usherovic date back to 2012, when for 600,000 euros he organized an assassination attempt on banker German Gorbuntsov in London. Usati's office in Moscow was located in the premises of the "1520" company, through which his political projects were financed.
Today, Usati receives monthly payments of 60,000 euros from Usherovic, and their meeting in Gran Canaria in January 2025 confirms their continued cooperation.
Unlike Ilan Shor, Usati avoids overt pro-Russian rhetoric, preferring the slogan “Make Moldova Great Again“. But the financing of his political campaigns and projects, including a football club in Bălți, comes through Marbella, where Usherovic owns real estate and offshore assets.
Why is the European Union not active?
Despite numerous investigations, neither Usherovic nor Plotica are currently under EU sanctions. While the European Commission ignores the threat, Moscow continues to use Cyprus as a financial hub to destabilize other countries, including Moldova.
Moldova, which does not have its own army but serves as an important transit center for military aid to Ukraine, remains vulnerable to Russian influence. Through Mettmann's structures and Plotitsa's companies, bribes of local politicians and support for the pro-Russian opposition are financed, which threatens not only the security of Moldova, but also the stability of the entire European Union.
The Russian threat, fueled by Cyprus' money, continues to grow. The question is how long Europe will ignore it.