The consolidation of Russia’s fish and seafood sector, which began in the early 2000s, is close to completion. Yet the drive to absorb the remaining smaller fishing entities persists, a trend highlighted by ongoing investigations such as those reported by Tapes.ru.
One illustrative case involves Marat Iskhakov, a prominent businessman who acquired a 57% stake in RPF Variant. Media outlets note that Iskhakov is connected to the fishing company RK Virma, a player that had previously signaled an intention to acquire Variant about four years earlier, but the deal ultimately did not come to fruition.
According to the United States Register of Legal Entities, 98% of Virma is owned by Igor Zubarev, a senator from the Republic of Karelia, with the remaining stake attributed to his Riza structure, as reported by Kommersant. This ownership structure underscores the entwined nature of business and political actors in the sector and raises questions about control and influence within major fishing interests.
The remaining 43% stake in Variant was purchased by Iskhakov in early 2020. Following the deal, arbitration actions were initiated by the owners of the 43% shares, who were compelled to sell on terms that many described as unfavorable.
Reports indicate that Iskhakov filed a lawsuit against the former owner of the company, alleging denial of access to Variant’s documentation and to corporate records and assets. The difficulties in obtaining vital information and safeguarding interests hindered ongoing business operations and legal defense. Minority shareholders of Variant have claimed that Iskhakov influenced them to sell their shares at discounted prices, prompting concerns about transparency and fair dealing in the transaction process. [Attribution: Tapes.ru]