Navalny reported that Putin's daughter received $14 million in government contracts

The Innopraktika Fund, allegedly headed by the daughter of the President of the Russian Federation, Vladimir Putin, received 877 million rubles (about $14 million) from government contracts and earmarked contributions in 2015 – 2016, according to information posted by the head of the Anti-Corruption Fund (FBK), Alexei Navalny, on his website.

According to the FBK, over a two year period, Tikhonova`s fund won competitive bids funded by state-owned companies in the amount of 451.6 million rubles ($ 7.2 million at 1 RUB - 62.89 USD). In particular, Innopraktika received 179 million rubles ($ 2.9 million) from the Public Joint-Stock Company Rosneft, 221 million rubles ($ 3.5 million) from the Joint Stock Company Transneft, and 59 million rubles ($ 940 thousand) from the State Atomic Energy Corporation Rosatom. In addition, the Fund received 425 million rubles ($ 6.8 million) in target premiums in 2015.

In the spring of 2016, it was reported that the expenses of the National Intellectual Development Foundation (NIDF), operating under the name Innopraktika, increased by 46% in 2015 and amounted to about 411.5 million rubles ($ 6.5 million). In 2014, the Foundation spent 281.6 million rubles ($ 4.5 million), and in 2013 about 65.3 million rubles ($ 1 million).

The Board of Trustees of Innopraktika includes such businessmen as the head of Rosneft, Igor Sechin, the General Director of Rostec, Sergey Chemezov, the Chairman of the Board of Gazprombank, Andrey Akimov, the main owner of NOVATEK, Leonid Mikhelson, and the head of SIBUR, Dmitry Konov.

The National Intellectual Development Foundation was involved in the creation of the technological valley of the Lomonosov Moscow State University. According to RBC, the development project is estimated at no less than 110 billion rubles ($ 1.750 million).

  Russia, Putin

Comments

Please visit out Twitter account for updates on the situation in Ukraine.