In a swift and strategic move that foreshadowed western sanctions following Russia’s invasion of Ukraine in 2022, a notable Russian oligarch orchestrated the transfer of ownership of Sardinia’s famed Forte Village Resort. This luxury haven, immortalized after its founder Lord Charles Forte, transitioned from Musa Bazhaev to a relative on February 25, 2022, as highlighted in Cypriot company records. With interests encompassing energy, commodities, and telecommunications, Bazhaev’s ownership was subsequently passed to Kazakh entrepreneur Shukhrat Ibragimov in early 2023.
As European authorities endeavor to tighten sanctions against Russian entities amid the ongoing conflict in Ukraine, loopholes in the punitive measures have raised concerns about the effectiveness of economic constraints. Companies and oligarchs, like Bazhaev and Ibragimov, have adeptly navigated through these restrictions by leveraging legal structures in European jurisdictions.
The Forte Village Resort, a gem nestled in Pula on the southern coast of Sardinia, has become a playground for celebrities and jet-setters alike since its inception in the 1970s. Boasting eight luxurious hotels, 13 opulent villas, 770 rooms, 33 suites, a private white sand beach, an array of dining options, pools, and an indulgent spa, the resort is a decadent retreat in the heart of paradise. Amidst all this grandeur, a week of half-board accommodation for a family of two adults and two children in August could cost up to €50,000.
Before Ibragimov’s acquisition of the Forte Village, he and his family, including his late father Alijan, were co-investors with Bazhaev in Kyrgyzstan’s Jeruy gold mine, a notable partnership heralded by Kyrgyzstan’s President and Russian President Vladimir Putin.
The complex ownership structure of the Forte Village Resort, ultimately controlled by Ibragimov through Cyprus-based Retivia Investments, has been a subject of intrigue with ownership shifts and detailed financial arrangements. With Progetto Esmeralda as the immediate owner and controller of Quarmine Limited, the resort’s ownership landscape has witnessed multiple transitions, culminating in Ibragimov’s stewardship.
Despite the fluidity in the ownership structure over the years, the resort’s core management team, deeply rooted in Italian expertise, has remained steadfast in its commitment to excellence and service. As the resort embarks on a new chapter under Ibragimov’s ownership, its unwavering dedication to delivering unparalleled experiences remains resolute.
In conclusion, the saga of the Forte Village Resort’s ownership changes underscores the intricate dance between international politics, business dealings, and luxury hospitality. As the world continues to watch with bated breath, the saga of this iconic resort serves as a microcosm of the larger geopolitical landscape, where power, wealth, and influence converge in unexpected ways.
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