An owner of the Russian metallurgical giant Ural Mining.

He is number 19 on the Russian Forbes 2021 list.

Earlier, Mr. Makhmudov, along with Andrey Bokaryov, owned a part of the Kalashnikov concern he was originally from, but his another enterprise the Kolomna Locomotive Works continues supplying diesel engine for navy ships. Mr. Makhmudov was a president and owner of the Ural Mining and Metallurgical Company which runs business in the Russian mining sector and is of strategic importance for the Russian government. Together with his business partner, sanctioned Oleg Deripaska, Mr. Makhmudov was accused of orchestrating “a large- scale racketeer scheme,” which included “physical violence, email fraud and money laundry in the United States.” The US Department of the Treasury has been added him to the “Kremlin report,” a list of high-ranking officials and businessmen Washington considers close to the Russian authorities