Russian billionaire Vladimir Lisin has sold the shipping company Volga Shipping, which transports cargo through the Sea of Azov and the Black Sea. The buyers were companies affiliated with Russian agricultural logistics group Demetra, Reuters reported, citing industry sources.

The deal was struck before Ukrainian drone attacks on commercial vessels prompted Russia to restrict shipping along one of its key trade routes in the Sea of Azov. Reuters did not disclose the value of the transaction.

What is known about Lisin’s company

Volga Shipping transports grain, metals and coal from the Volga and Don rivers to the Sea of Azov and the Black Sea. The company handles more than 15 million tonnes of cargo annually. Its fleet includes small bulk carriers similar to vessels that have been targeted in Ukrainian attacks. The threat of further strikes prompted Russia to restrict commercial shipping along one of its key trade routes through the Sea of Azov, posing risks to Russian exports.

According to Reuters sources, Volga Shipping was acquired by companies affiliated with Demetra, one of the largest players in Russia’s agricultural logistics sector. The group handles Russian grain exports to customers in the Middle East, Africa and Asia.

Demetra, however, told Reuters that Demetra Holding itself had not considered acquiring the asset.

What is known about Vladimir Lisin

Vladimir Lisin controls PJSC Novolipetsk Steel (NLMK), one of Russia’s largest steel producers. According to Reuters, amid a downturn in Russia’s steel sector, Lisin fell from third place in 2024 to sixth on the list of Russia’s wealthiest individuals.

At the same time, Lisin remains one of Russia’s wealthiest businessmen not subject to sanctions imposed by the United States or the European Union.

Why the Sea of Azov route matters

The Sea of Azov remains an important route for Russian freight transport. Volga Shipping vessels use it to carry grain, metals and coal from Russia’s inland waterways to the Sea of Azov and the Black Sea. In July 2026, shipping along the route was disrupted by Ukrainian drone attacks on Russian vessels. Russia, the world’s largest wheat exporter, was subsequently forced to restrict commercial shipping in the region. According to Reuters sources, however, the deal to sell Volga Shipping had been struck before the Ukrainian attacks that led to the shipping restrictions.

Key points:

• Russian billionaire Vladimir Lisin has sold Volga Shipping, which handles more than 15 million tonnes of cargo annually.
• According to four Reuters sources, the buyers were companies affiliated with agricultural logistics group Demetra. Demetra Holding, however, said it had not considered acquiring the asset.
• Volga Shipping transports grain, metals and coal from the Volga and Don rivers to the Sea of Azov and the Black Sea.
• The deal was struck before Ukrainian drone attacks on commercial vessels prompted Russia to restrict shipping in the Sea of Azov.