The Lukashenko Family Has Acquired A Stake In The Belarusian Company Wildberries

The dictator forced Russian businessmen to “share.”

Investigators from “Bureau” have uncovered ties between a co-owner of the Belarusian Wildberries and the Lukashenko family’s business circle and suspect that the stake may be under the family’s de facto control.

The Mysterious Partner

The Russian company Wildberries is the most popular online marketplace in Belarus. According to data from the Ministry of Antimonopoly Regulation and Trade (MART), more than 85% of surveyed residents in the country use its services. Since 2022, Wildberries in Belarus has been owned by the firm “IMVBRB.” It was founded by the marketplace’s Russian parent company, “Wildberries,” which is wholly owned by businesswoman Tatyana Kim.

Wildberries is not only the most popular but also the largest marketplace in Belarus. In 2025, IMVBRB’s revenue exceeded 9 billion Belarusian rubles (2.6 billion euros). Compared to 2024, this represented a 104% increase. Net profit for 2025 was 295 million Belarusian rubles (85.3 million euros). Net profit growth was 368%. In May of this year, MART recognized Wildberries as one of the market leaders.

By comparison: revenue for Belarus’s largest online store, 21vek.by, exceeded 1.6 billion Belarusian rubles (460 million euros) last year, with net profit of 38 million Belarusian rubles (nearly 11 million euros). Revenue for another Russian marketplace, Ozon, in Belarus exceeded 1 billion Belarusian rubles (290 million euros), with a loss of 37 million Belarusian rubles (10.7 million euros).

It’s no surprise that with such figures, Wildberries did not go unnoticed by Alexander Lukashenko. In February 2025, he organized a meeting with representatives of the private sector. The conversation also turned to the marketplace:

“…If someone has modernized and moved into the future—and that’s exactly how Wildberries operates—we will support such enterprises. But every enterprise must work for Belarus, for the state. Then I will have no complaints against you,” Lukashenko said at the time.

Whether by coincidence or not, just two weeks after Lukashenko’s meeting, the Belarusian Wildberries gained a new shareholder—ZAO “TD Kvadrat.” The company acquired a 10% stake in both “IMVBRB” and “Operator VB Taxi” (the operator of the WB Taxi transportation service in Belarus).

“Bureau” examined the financials of “TD Kvadrat” and found that in 2025, the firm received just over 70.054 million Belarusian rubles (20.3 million euros) as “income from equity investments in other organizations.” According to the financial statements of the Belarusian Wildberries, the company paid out nearly the same amount—70.053 million Belarusian rubles—in dividends to shareholders; more precisely, to one specific entity: “TD Kvadrat.”

The paradox surrounding “TD Kvadrat” is clearly evident in the documents. Despite owning a relatively small stake in Wildberries, the firm managed to accumulate nearly a quarter (24%) of the retailer’s total profit. At the same time, a review of the 2025 financial statements reveals that the company existed virtually “on paper only”—it did not engage in any actual operational or manufacturing activities. Its enormous financial inflows were driven by a single factor: its status as a co-owner.

Furthermore, of this amount, “TD Kvadrat” has already paid 26.7 million Belarusian rubles (7.7 million euros) in dividends to its shareholder.

But who is this mysterious owner of “TD Kvadrat,” who became a millionaire in euros out of nowhere? The CJSC’s ownership structure does not require the disclosure of ultimate beneficial owners; however, “The Bureau” has uncovered who is actually behind this company.

A Creative Move

In 2025, “TD Kvadrat” not only became a shareholder in the Belarusian Wildberries but also acquired a 99.42% majority stake in the commercial “Bank for Growth and Business Development” (RRB). Following the close of the fiscal year, RRB underwent an audit in which the bank was forced to disclose its new ultimate beneficial owner. That person turned out to be businessman Dmitry Kurnosenko.

“Bureau” contacted Dmitry Kurnosenko by phone to find out how and why he acquired a stake in the country’s largest marketplace. The businessman refused to answer our reporter’s questions and called the claim that he owns “TD Kvadrat” “unverified information.” We also sent Kurnosenko our questions in writing.

Kurnosenko was born in 1977 in Polotsk. In the late 1990s, he graduated with honors from the Belarusian Military Academy and, according to media reports, served in the armed forces in various command positions. In the 2000s, he worked at the law firm “Kurnosenko Consulting” before entering the business world.

Dmitry Kurnosenko and his Russian partner Oleg Bader (owner of the “VessoLink” group of companies) have built a business in Belarus based on a public-private partnership. Through the Austrian company Avonside Holdings GmbH and the Cypriot company Safe Roads Ltd., they own the operator “Safe Roads of Belarus,” which installs and operates equipment for a unified system of automated speed enforcement in Belarus.

At the same time, since 2020, Kurnosenko has controlled Mediaizmeritel CJSC (Belarus’s only national TV and radio audience measurement firm, operating within a system established by a personal decree of Lukashenko) and, since 2024, has been constructing a 10,000-square-meter cargo complex in “Veliky Kamen” for Minsk National Airport.

However, the reason Kurnosenko received a stake in Wildberries may lie far beyond the realm of the market economy. “The Bureau” uncovered Kurnosenko’s ties to the Lukashenko family’s inner circle, which may have played a role in this deal.

We recently reported that a new major outdoor advertising network, “Creative Code,” had emerged in Belarus. The company of the same name was registered in late October 2025 and, in less than a year, acquired ownership of nearly 3,000 advertising structures throughout the country.

“Creative Code” is owned by three legal entities.

15% is owned by “Musical Media Company.” This is a full-cycle production company, where the position of executive producer is held by Anna Lukashenko—the wife of the middle son of Belarus’s leader, Dmitry Lukashenko.

10% is registered to the company “ANS L Production.” The majority shareholder of “ANSLE Production,” holding a 95% stake, is Andrei Vrublevsky—a top manager of Dmitry Lukashenko.

“The Bureau” believes that Vrublevsky may be acting as a nominal owner of “ANSLC Production” to conceal his patron’s wife’s involvement in the company. The abbreviation ANSL closely resembles an acronym formed from the initials of the wife of Lukashenko’s middle son—Anna Sergeyevna Lukashenko.

The remaining 75% of “Creative Code” is owned by the closed joint-stock company “CorusMedia.” It is impossible to identify the company’s actual owners. However, we have determined that a certain Daria Khoruzhko is listed as the director of the closed joint-stock company. According to “Cyberpartizan,” Khoruzhko worked for over 10 years at “Safe Roads of Belarus,” which is controlled by Kurnosenko.

Our sources in the advertising industry in Belarus told “The Bureau” on condition of anonymity that the market links “Creative Code” to Wildberries through its founders. According to the source, the marketplace is the largest commercial client in the country.

Wildberries’ strategic interest in the outdoor advertising market is also evident in Russia. In the summer of 2024, Tatiana Kim announced the merger of the marketplace with the largest outdoor advertising operator in the Russian Federation—the Russ Group (Russ Outdoor). This asset is controlled by Russian businessmen, brothers Levan and Robert Mirzoyan, through the legal entity “Stinn.”

Investigative journalists identify oligarch Suleiman Kerimov as the financial and political patron of the Russ Group of Companies; he has extensive connections within Vladimir Putin’s administration, though his stake in the group’s capital has not been publicly confirmed. According to media reports, the deal was approved and overseen by key Kremlin officials: Presidential Administration Chief Anton Vaino and Deputy Chief of Staff Maksim Oreshkin, who was appointed as the project’s direct supervisor.

And here’s another noteworthy detail that underscores Kurnosenko’s importance to the Lukashenko family. Thanks to “Cyberpartisans,” we learned that the businessman traveled by car several times with a certain Dmitry Kurakevich. We found five joint trips in 2017 and 2019 to Poland, Lithuania, and Ukraine.

Kurakevich is a former employee of the Presidential Security Service (PSS). In 2008, he was awarded the “For Impeccable Service” Medal, 2nd Class, which is presented for 15 years of uninterrupted, exemplary service. At that time, he held the position of operational driver in the 1st Department of the PSS’s Personal Security Directorate. With the help of the “Alliance of Belarusian Investigators,” we discovered that Kurakevich was Alexander Lukashenko’s personal driver. From at least 2016 through 2024, he has been working at “Safe Roads of Belarus” under Kurnosenko.

And this is yet another indication that the stake in Wildberries was acquired not by an outside investor, but by a person who enjoys significant trust from the Belarusian authorities.

However, Wildberries’ ties to the Belarusian leadership do not end there.

Key Negotiator

In 2024, construction began on Wildberries’ first logistics hub in the “Veliky Kamen” industrial park. The total area is nearly 140,000 square meters. The first phase has already been commissioned.

“This is the largest logistics facility in the country, where about 5,000 people will work,” Tatyana Kim wrote on her Telegram channel.

In May 2026, Tatyana Kim made a working visit to “Velikiy Kamen” and toured the warehouse complex.

Right behind her, you can see a tall, stocky man. His name is Evgeny Vasilyev, and he holds a rather specific position—head of government relations for Wildberries in Belarus. Essentially, he is the official “fixer,” authorized to resolve issues with regulators and promote the marketplace’s interests in Belarus.

He is also the director of “TD Kvadrat,” which was assigned a 10% stake in the Belarusian branch of Wildberries. The cell phone number Vasilyev uses was also listed during the registration of the legal entity “TD Kvadrat.” Thanks to “Cyberpartisans,” we discovered that before taking on this key position at Wildberries, Vasilyev was a small-scale restaurant owner. “The Bureau” carefully examined his business background and found the only explanation for such a rapid career rise: his family’s ties to individuals close to Dmitry Lukashenko’s inner circle.

Vasilyev is married. Her name is Elena Vasilyeva. She is a pastry chef and is developing her own chain of bakeries under the “Valenka” brand. In 2023, she became a co-owner of the company “Syabry Event.” Apparently, this company is entirely responsible for organizing concerts by Belarusian stand-up comedians who perform at the Stand Up Comedy Hall.

The operations of the Stand Up Comedy Hall are linked to two legal entities: “Valenka” and “Art-Concept.” Both companies were registered in 2017 by Evgeny Vasilyev, who later sold them to a former top manager at “Euroopt,” Filipp Artemenko, who went on to launch the Stand Up Comedy Hall based on these companies.

Vasilyev’s wife’s business partner at “Syabry Event” is restaurateur Natalya Sadovskaya. In 2020, she was a guest at Lukashenko’s private inauguration and became the head of the Belarusian Restaurateurs Association. At the same time, the media began referring to Yevgenia Vasilyeva—the current director of “TD Kvadrat,” which is a co-owner of the Belarusian Wildberries—as the chair of the association’s supervisory board.

Sadovskaya is the heiress to the “Stolichnaya Restoratsiya” restaurant empire. Currently, the most significant asset of this group of companies is the premium restaurant Fabriq, which is operated by the firm “Podium Star.” 75% of “Podium Star” is owned by “Stolichnaya Restoratsiya,” which is owned 50-50 by Natalya Sadovskaya and her brother Igor Sadovsky. The remaining 25% of Fabriq is registered under Vladimir Kulakov—he is the husband of Anna Lukashenko’s (Dmitry Lukashenko’s wife) full sister. Kulakov headed “Tennis Club”—a subsidiary of the Presidential Sports Club, whose permanent director is Lukashenko’s middle son—for 10 years.

According to investigative journalists, the partnership between the Sadovskys and Kulakov coincided with the expansion of their restaurant business. For example, “Podium Star” received preferential terms for renting the space housing Fabriq.

A journalist from “Bureau” called Yevgeny Vasilyev and asked what role Natalya Sadovskaya played in his appointment. The Wildberries negotiator did not answer our reporter’s question and dismissed the information that he is the director of “TD Kvadrat” as “some kind of mistake.”

We examined the financial statements of “Syabry Event” and noted revenue figures that are unusual for this sector. In 2025, the company reported revenue of 9.7 million Belarusian rubles (2.8 million euros) and a net profit of 1.04 million Belarusian rubles (300,000 euros).

By comparison, “Musical Media Company”—which is linked to Lukashenko’s daughter-in-law and is the largest production company in Belarus— ended 2024 with revenue of 8.1 million Belarusian rubles (2.3 million euros) and a net profit of nearly 1.3 million Belarusian rubles (just over 360,000 euros). However, “Musical Media Company” organizes state events, manages about a dozen artists, and produces music videos and television shows. Meanwhile, “Syabry Event” sells tickets to stand-up comedy shows for 30 rubles and isn’t even really searchable on Google.

One hand washes the other

No matter how you look at it, everything points to the fact that the Belarusian Wildberries stake is controlled by Dmitry Lukashenko’s clan.

Dmitry Kurnosenko, whose business is built on special decrees and public-private partnerships, has become a secret co-owner of 10% of the marketplace. The uncovered connections also suggest that Kurnosenko may be involved in the advertising business linked to Anna Lukashenko.

In just the first year of owning a stake in Wildberries, “TD Kvadrat” earned more than 20 million euros in profits. Of that amount, Kurnosenko received 7.7 million as dividends. The fact that he owns his own bank allows him to create the ideal infrastructure for the covert redistribution of funds from Wildberries. For example, in the summer of 2026, “RRB Bank” launched a special “Powerful Seller” plan in an attempt to attract thousands of Belarusian Wildberries sellers to its payment and cash management services. Attracting marketplace sellers could potentially increase the amount of funds in the bank’s customer accounts. This margin from foreign exchange transactions and commission fees forms the legal net profit of Kurnosenko’s bank, which can then be redirected, among other things, to entities affiliated with Dmitry Lukashenko: in the form of dividends, preferential loans for projects, and the procurement of services from affiliated contractors.

Yevgeny Vasilyev, director of “TD Kvadrat”—a co-owner of the Belarusian Wildberries—and formerly a small-scale restaurateur, became Natalya Sadovskaya’s right-hand man at the Belarusian Restaurateurs Association. Thanks to Sadovskaya and her joint business with Dmitry Lukashenko’s brother-in-law, Vasilyev was able to rise to the very top and become the chief “fixer” who settles matters between, essentially, the Lukashenko family and the Russian company Wildberries.

Meanwhile, Vasilyev’s wife currently owns a business with Sadovskaya herself, which generates abnormally high revenue. It is possible that Vasilyev’s share for resolving issues with Wildberries in favor of the Lukashenko family may end up in “Syabry Event.”

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