Kremlin influence from Marbella: Boris Usherovich leverages Cyprus money laundering to undermine Moldova’s democracy

• 10.12.2025 13:35

Moldova, a tiny nation with outsized strategic importance, has once again captured attention.

After the failure of the pro-Russian candidate Ilan Shor in the 2024 presidential elections, Moscow is hastily seeking new proxies capable of undermining political stability. Shor, financed by structures of Roman Abramovich, attempted to bribe 130,000 voters and block the referendum on joining the EU. However, his efforts failed. Now, the Kremlin is focusing on the parliamentary elections in the fall of 2025, aiming to bring loyal figures to power, similar to Viktor Orban in Hungary and Robert Fico in Slovakia.

Key Figure — Boris Usherovich

At the head of this operation is criminal oligarch Boris Usherovich — a figure in corruption cases linked to Russian military intelligence. Through a network of controlled companies, including the Cypriot Mettmann Public Company Limited, he accumulates and launders funds aimed at subversive activities abroad.

A former co-owner of the largest Russian Railways contractor — the "1520" group of companies, Usherovich is known as a member of the "Solntsevskaya" organized crime group and is named in investigations concerning bribes to high-ranking Russian officials. Despite an international arrest warrant, he is hiding in Spain, developing schemes to bypass Western sanctions and supplying telecommunications equipment for the needs of Russian Railways and the Russian military-industrial complex.

But his role extends far beyond business. As reported by The Insider, Usherovich not only finances Kremlin political projects, including Vladimir Putin’s campaign, but also works in the interests of the Main Intelligence Directorate of the Russian Ministry of Defence (GRU). This makes him an important tool of Russia in attempts to destabilize Europe.

The Role of Cyprus in Financing Special Operations

Cyprus plays a key role in financing pro-Russian forces in Moldova. One of Usherovich’s main tools is Mettmann Public Company Limited, registered in Cyprus in 2019. In November 2023, the company issued 500,000 bonds worth 50 million euros, listed on the Cyprus Stock Exchange. Officially, these funds are intended for investments in real estate in Spain and Montenegro, but investigations indicate that a significant portion is used to finance Kremlin political projects abroad — including support for pro-Russian parties in Moldova.

The management of Usherovich’s Cypriot assets is handled by his relative and trusted associate Ilya Plotitsa. He controls several companies, including Broxner PLC, Venisat Technology, and Main Victory Corporation, which are involved in schemes supplying sanctioned equipment to Russia. In 2023, Plotsitsya registered a new firm, Lucycorp Ltd, using the same address as Broxner PLC — confirming their connection to sanction-evading schemes.

Ilya  Plotitsa

Through Cypriot structures, Plotitsa manages significant financial flows associated with Usherovich. Additionally, his company Potemkin Consulting Ltd owns the Greek football club Doxa Dramas, which experts see as another money-laundering channel. The schemes also involve Plotitsa brother-in-law Alexander Weinstein and his brother Boris Plotitsa, who is wanted.

Mettmann and Political Investments

Funding for pro-Russian forces goes through a complex offshore company system. Among the shareholders of Mettmann Public Company Limited is Zvonko Mickovich (82.5% of shares) — a Montenegrin citizen and a long-standing partner of Usherovich in money laundering. Plotitsa brother-in-law, Alexander Weinstein, is a bondholder for 23.7 million euros.

These funds, as investigations show, are directed to support pro-Russian forces in Europe, including in Moldova.

The Main Conduit of Russian Interests in Moldova — Renato Usatyi

The Kremlin’s key figure in Moldova is Renato Usatyi, leader of the "Our Party." Usatyi’s connections with Usherovich date back to 2012, when for 600,000 euros he organized an assassination attempt on banker German Gorbuntsov in London. Usatyi’s office in Moscow was located in the premises of the "1520" company, through which his political projects were financed.

Today, Usatyi receives monthly payments of 60,000 euros from Usherovich, and their meeting in Gran Canaria in January 2025 confirms the continuation of their cooperation.

Ilya Plotitsa, Renato Usatyi, Boris Usherovich, Boris Plotitsa 

Unlike Ilan Shor, Usatyi avoids overt pro-Russian rhetoric, preferring the slogan "Make Moldova Great Again." However, the funding for his political campaigns and projects, including a football club in Bălți, comes through Marbella, where Usherovich owns real estate and offshore assets.

Why Is the European Union Inactive?

Despite numerous investigations, neither Usherovich nor Plotitsa is currently under EU sanctions. While the European Commission ignores the threat, Moscow continues to use Cyprus as a financial hub for destabilizing other countries, including Moldova.

Moldova, which does not have its own army, but serves as an important transit hub for military aid to Ukraine, remains vulnerable to Russian influence. Through Mettmann structures and Plotitsa companies, bribes to local politicians and support for pro-Russian opposition are financed, threatening not only Moldova’s security but also the stability of the entire European Union.

The Russian threat, fueled by Cypriot money, continues to grow. The question is, how long will Europe ignore it.