Overview

• French authorities conducted a high-profile raid on the Ministry of Economy and Finance in Paris on March 27, 2025, as part of an ongoing investigation into Russian billionaire Souleïman Kerimov.
• The investigation focuses on luxury villas on the Côte d’Azur, allegedly registered under false names to obscure Kerimov's ownership.
• Authorities are scrutinizing fiscal arrangements linked to these properties, with a financial stake exceeding €38 million, and a 2019 tax agreement between Kerimov and French authorities.
• The case, which began in 2014, was reignited in 2022 following a Tracfin financial intelligence report highlighting suspicious transactions.
• Kerimov, under EU sanctions since 2022 due to the Ukraine conflict, has faced years of legal scrutiny in France over alleged money laundering and tax evasion.