Alexander Shakutin

Current assets: ITAM – Upravlyayushchaya Kompaniya Kholdinga, PMI Engineering, Spamash, Saleo – Upravlyayushchaya Kompaniya Kholdinga (undergoing corporate restructuring), Amkodor Baltic (Lithuania) (mechanical engineering and distribution), Spamash Production Center (entertainment), Navanep (real estate), EM System and EM Industry (both in Lithuania).

Historical assets: Amkodor – Upravlyayushchaya Kompaniya Kholdinga (machinery manufacturing and distribution); InterService (an oil trader); Logeks (commerce), Iskamed (retail); Shanter (tourism); Beltamozhviliya and SV Maschinen/NGF Trade (Germany) (commerce).

Connections: Aleksandr Lukashenko (patron), Marija Shakutina (wife), Alexandr Shacutin Jr. (son), Siarhei Shakutsin (brother), Ihar Subotsin and Yaroslav Buyalskiy (partners), Upendra Mahato (former partner), Birendra Mahato (former partner), Niraj Shrestha (former partner), Mikalai Varabei (former partner), Aliaksandr Nakhayenko (former manager and partner), Valery Ivankovich (former manager), Mikalai Kostsen (former manager), Natalia Petkevitch (former manager), Siarhei Tkachou (former manager).

Benefits: In the early 2000s, with the authorities' approval, Shakutin became a shareholder in Amkodor, a holding company and the leading manufacturer of road construction and municipal equipment in Belarus. He became its principal beneficiary in the mid-2010s. The holding company has access to government contracts spanning several sectors of the national economy.

The businessman was one of the most prominent beneficiaries of selective privatization from 2000 to 2010. Based on presidential decrees, about 10 state-owned enterprises were incorporated into the holding company Amkodor during this period.

Despite its private status, the holding company had broad access to credit resources from state-owned banks. These resources were issued for the company's investment programs under government guarantees. Failure to meet obligations under these loans became the main reason for the nationalization of Amkodor Holding in 2025.

In 2013, Interservice received the right to construct the Shanter Hill mixed-use complex from the Minsk City Executive Committee based on an investment agreement. The businessman received a preferential Chinese loan for this project, which was backed by a government guarantee. The unfinished project was transferred to state management in 2025.

Beltamozhviliya was involved in reexporting flowers to Russia. SV Maschinen supplied sanctioned equipment to Russia and Belarus.

Shakitun was elected to the Council of the Republic of the National Assembly of Belarus for two terms, from 2008 to 2012 and from 2012 to 2016.

Restrictions: Shakutin has been on the EU sanctions list since December 2020. He was added to the sanctions lists of the United States, Canada, and the United Kingdom after the 2020 events.

Between 2021 and 2024, the Amkodor holding company was added to the US, Canadian, and Ukrainian sanctions lists, while the company Logeks was sanctioned by the US and the EU. Amkodor Baltic, EM System, and EM Industry are on Lithuania's sanctions list.