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Liudmila Niaronskaya’s financial records shielded by tax secrecy

Buro discovered that the Belarusian authorities had classified the financial statements of almost all the companies belonging to Liudmila Niaronskaya, a family friend of Victor Lukashenko, in 2025.

 

Six companies owned by the businesswoman were classified as “secret” in a single move: Morskie Sezony, Morskie Promysly, Morskaya Manufaktura, Morskaya Gavan, Belmare Group, and Sezon Upakovki. The last of these is 20% owned by Aliaksandr Lukashenka Jr., the son of Victor Lukashenko.

Earlier, Buro reported that the Sezon Upakovki company was set to construct a production and storage facility at the Bremino-Orsha site – also referred to as the "Orsha offshore" – with the help of a budget loan.

The Council of Ministers of Belarus issued a resolution on “tax secrecy” concerning the financial statements of the Niaronskaya holding. The same mechanism had earlier been used to shield the financial performance of companies linked to Lukashenko’s sons: Lebyazhy Park and Glavtorgpred, connected to Victor Lukashenko, and the Presidential Sports Club and Pervaya Obraztsovaya Tipografiya, associated with Dmitry Lukashenko.

 

Buro sent requests to the Council of Ministers of the Republic of Belarus, the Ministry of Taxes and Duties of the Republic of Belarus and the Ministry of Justice of the Republic of Belarus. We asked them to explain why information about the incomes and expenses of private companies has become a state tax secret.

Such secrecy surrounding Niaronskaya's business suggests that Victor Lukashenko's family may have a personal financial interest in this fish holding. Earlier, we found that, in addition to Aliaksandr Lukashenka Jr., two other relatives of Victor Lukashenko work within Niaronskaya’s business structures: his son-in-law, Dzmitry Dziatlau, and his brother-in-law, Aliaksandr Harusau, who is married to the sister of Victor Lukashenko’s wife, Liliya Lukashenka.

Of all the fish firms owned by Niaronskaya, Morskoy Vektor is the only one that did not fall under the state secret tax. The company was registered in January 2025 and provides auxiliary services in the transportation sector. By the end of 2025, Morskoy Vektor’s revenue had reached just over 1.5 million Belarusian rubles. However, the company ended the financial year with a loss of over 800,000 Belarusian rubles.

 

Buro also has the financial statements for Liudmila Narionskaya’s Russian company, Soyuznye Promysly. This asset is co-owned by Vladimir Putin’s friends and oligarchs, including the Rotenberg brothers.

 

Soyuznye Promysly’s revenue amounted to just over 22 million euros by the end of 2025. The company finished the financial year with a net profit of almost 5.9 million euros. In addition, Liudmila Niaronskaya and her company, Morskie Promysly, received substantial dividends as shareholders, totalling $4.6 million.

 

As a member of the supervisory board, Niaronskaya received an additional reward of around $30,000. Victor Lukashenko’s son-in-law, Dzmitry Dziatlau, who is also a member of the Soyuznye Promysly supervisory board, received the same amount.