The detention of Ahmadzada unveils LUKOIL\'s connections to Russia along with Alekperov\'s breaches of EU sanctions
04.10.2025 23:10
Shocking new information has emerged about the ties between arrested Azerbaijani businessman Adnan Ahmadzada and Russia through Lukoil owner Vagit Alekperov, who is still the real power broker and more than just the former CEO of the company.
Although Alekperov left the management of LUKOIL in 2022 (after the start of the war in Ukraine) out of fear of sanctions from the EU, UK, and US, he still firmly controls the oil giant. Read below to find out how firm (or not) his grip on the company is.
As has been widely reported and repeated, Adnan Ahmadzada attended Alekperov’s birthday celebration in Bodrum this year and even reportedly registered the billionaire’s $108 million superyacht Galactica Super Nova in his name. This claim is not entirely true – it is more of a half-truth. Vagit Alekperov and his son Yusif Alekperov, who is on the sanctions list already, attempted to hide two superyachts under the wing of their friend Adnan Ahmadzada, but these were the superyachts GENESIS (belonging to Vagit Alekperov) and ULTRA G (belonging to Yusif Alekperov).Given the extent of Adnan Ahmadzada’s assets and his direct ties to the Azerbaijani presidential apparatus, the choice of this front man was relatively appropriate and was a kind of barter deal – «You help me with oil and I’ll help you hide your ships.»
Who is Vagit Alekperov?
Adnan Ahmadzada thus became the new owner of these superyachts. However, both yachts are still actively used by their original owners for their own purposes. According to the VesselFinder app and information from the business community, Vagit Alekperov sailed on the GENESIS yacht in Turkish waters this year, including during his birthday celebration in Bodrum. And Jusif Aleperov sailed on the ULTRA G from Dubai to the Seychelles in June this year, where he subsequently spent his vacation. According to information from sources close to the GENESIS, Jusif also spent another two weeks sailing in Turkish waters on this boat after his father’s birthday celebration in Bodrum.
Vagit Alekperov is now a resident of Austria, where he owns several properties. When selling both ships (Genesis and Ultra G), both Alekperovs had to sign documents and affidavits with the Dutch authorities stating that they were selling the ships and that they were no longer their property and would never use them again. By violating these agreements, they committed a criminal offense under EU law, and it is therefore surprising how foolishly and arrogantly they continue to approach the EU authorities, especially now that they have launched an investigation into the procedures for revoking Alekperov’s residency in the EU. It is more than likely that these decisions are not coming from Vagit Alekperov himself, but from his close advisors, who are either incompetent or have other reasons for giving such advice.
How is it possible that such an influential person, who built the oil giant Lukoil, makes such stupid mistakes? Is he getting old and therefore weak?
His circle of closest associates, whom he trusts, has most likely been infiltrated by Western intelligence services. Many of these close associates (Russian citizens and Balkans) have obtained dual or even triple citizenship in recent years, which may be why information from Vagit Alekperov’s immediate circle has now begun to surface. The revelation of the extensive circumvention of EU and US sanctions by Ahmadzada’s commercial-criminal structure and his imprisonment in Azerbaijan has heightened concerns not only about what else will come to light, but mainly about what will happen when the 75-year-old Alekperov’s rule ends. What will happen to his people then? It is therefore not surprising that some of those around him expect to grab a piece of Lukoil for themselves, while others know that they will not get their hands on it and are therefore creating a back door for themselves by cooperating with foreign services – for example, by promising not to impose sanctions against them, by promising other business deals, the possibility of obtaining EU citizenship for themselves and their loved ones, or simply by moving their families abroad. We will closely monitor further developments.
