Vladimir Lisin is the owner of huge Russian enterprises such as Novolipetsk Steel Company (NLMK, one of the largest metallurgy enterprises in Russia), Freight One (one of the leaders in rail freight transportation in Russia), Port One and others. In addition to these companies, Lisin owns the assets of one of the largest shipping companies in Russia, Volga Shipping Company. In 2024, the Russian Forbes estimated Lisin’s wealth at $26.6 billion. He was also ranked third in the global Forbes ranking of 20 richest Russian businessmen. The billionaire’s companies systematically supply steel to the Russian military-industrial complex, which means that the oligarch is involved in Russia’s war against Ukraine. Despite this, he is still not sanctioned by the US, EU, UK, Canada, and numerous other countries. 

Lisin is periodically ranked among the leaders of Forbes ratings. In addition, the oligarch was included in the so-called “Putin’s List” published by the US Treasury. This is a list of Russians with close ties to the Kremlin. At various congresses of the Russian ruling elite, Lisin describes the current problems of Russian business and tells jokes to Putin. At the same time, the billionaire has been subject to sanctions restrictions in only two countries – Australia and Ukraine.

From an electrician to an owner of a metallurgical plant

Lisin began his career as an electrician at Yuzhkuzbassugol. After graduation, he worked at metallurgical enterprises, rising from a steelmaker’s assistant to deputy general director of the Karaganda Metallurgical Plant. In the 80s, Lisin headed the Soviet-Swiss company TSK-Steel, which traded metal abroad. In the 90s, he became a chairman of the board of directors of the Sayanogorsk Aluminum Plant. At the same time, he took control of NLMK. Lisin bought out the plant’s shares from George Soros and Richard and Christopher Chandler and became a chairman of NLMK’s board of directors.

Cooperation with the Ministry of Defence of the Russian Federation, Rosgvardia and the military-industrial complex

Ever since Russia invaded Ukraine in 2014, NLMK has been supplying steel to Russian military-industrial complex enterprises. In particular, it supplied steel in 2016, for the Mariyskiy Machine Building Plant for RUB 865,789. The company manufactures radar stations for anti-aircraft systems. It also supplied steel worth RUB 1,4 million to the Electromashina Research and Production Association (Rostec) in 2017. This Association produces Okhotnik combat modules (a part for a machine gun).

Vladimir Lisin’s NLMK Corporation has been also systematically supplying steel to Russian state-owned enterprises involved in the production of nuclear weapons. For example, in 2018, the All-Russian Research Institute of Technical Physics named after Academician Zababakhin was supplied with production worth RUB 3,8 million. This institute develops nuclear and thermonuclear munitions.

NLMK also supplied steel to other Russian companies:

• Tekhnodinamika Joint Stock Company (2016, for RUB 622,332). This is a management company for aviation industry enterprises in the field of development and production of units, life support and power supply systems. It is part of the Rostec Corporation.
• Polyus Research and Production Center (2015, RUB 245,288). The company specializes in the development of unique onboard and ground electrical equipment.
• Izhevsk Electromechanical Plant Kupol (2017, RUB 2,7 million). It produces high-precision air defense products and electronic equipment for military use.

Deripaska, Potanin and the so-called Aluminum Wars of the 90s

In the 90s, there was a rivalry between various billionaires and criminal authorities who wanted to get NMLK. According to Forbes, Lisin and his partner, now billionaire Oleg Deripaska, were traveling in a car when they were ambushed by grenade launchers. At the last moment, the businessman who ordered the assassination attempt, known in certain circles as Tatarin (Vladimir Tatarenkov, Ed.), demanded the killers to stop, and so they did. During these years, Lisin oversaw several large metallurgical plants (including NLMK) in favor of criminal authorities Mikhail and Lev Chernykh, and found himself at the epicenter of the “aluminum wars.” The transfer of enterprises to the control of the Chernykhs’ company Trans World Group (TWG) was often accompanied by murders. In the midst of this division of territories and businesses, Lisin’s dacha was burned to the ground, and he immediately sent his children to live in Israel. 

A few years later, the Chernykh got into an argument, and Vladimir Lisin, who had his eye on NLMK, took advantage of it. In 1997, he severed relations with TWG and transferred NLMK’s exports to his Irish company Worslade. Although Lisin reached an agreement with the Chernykh, the brothers gave him an unpleasant surprise by selling their 34% stake in NLMK to oligarch Vladimir Potanin. 

Thus, Lisin, who controlled the plant in the early 2000s, had a new opponent. However, over time, the third largest steel company in Russia came under Lisin’s full control.

Real estate in France, United Russia party and business abroad

Oligarch Lisin finances Putin’s United Russia party and, according to The Insider, owns villas and the NLMK Strasbourg plant in France, which specializes in the production of galvanized steel. Lisin’s company also owns production facilities on the banks of the Rhine. According to Radio Liberty, Lisin’s villas are located near Nice in the municipality of Villefranche-sur-Mer. The estates are registered to two French companies – SCI GAILLARDIA (owned by Vladimir Lisin and his son Yuriy) and SCI BALEARA (owned by Lisin’s wife and son). The villas are located in the neighborhood and have access to the sea.

According to Disclose, Lisin’s Novolipetsk Metallurgical Plant owns mines and steel plants throughout Russia and industrial plants in Europe, particularly in France and Belgium. As such, Lisin is free to travel around the world on his private jet anytime, with the exception of Australia, where he is under sanctions. He can also freely use his castle in Scotland, as well as his two estates on the French Riviera.

From father to son: what is known about the family of Vladimir Lisin

According to Forbes, Lisin has three children. The eldest son, Dmitriy, is 43, the middle son, Yuriy, is 40, and the youngest daughter, Anastasia, is 26. Lisin’s sons are involved in the family business. 

Dmitriy is a graduate of the London School of Economics and the Russian Presidential Academy of National Economy and Public Administration. Dmitriy has been working for his father’s companies since the mid-2000s, and was a member of the board of directors of the First Freight Company and the First Port Company. According to media reports, Yuriy owns the Luxembourg-based RiskInvest Holding, which holds a 4.26% stake in Fletcher Group, which owns 79.3% of NLMK. Until February 18, 2022, Yuriy was a member of the Board of Directors of Fletcher Group. His sister Anastasia also served as a director of Fletcher Group until 2022. In 2020, the oligarch’s daughter graduated with honors from Moscow State University (Faculty of Economics) and, according to local media reports, married her classmate Fyodor Vlasov. As of 2021, he was working at the Russian Citibank.

Vladimir Lisin is one of the key suppliers of steel to the Russian military-industrial complex. While sponsoring the war in Ukraine, he is also not ashamed to support Putin’s United Russia party. His children live a wealthy life, holding senior positions in their father’s companies. 

And his wife collects works by the most famous Russian artists. Lisin’s money is not only unknown to his relatives, but also to the international community. Only Australia and Ukraine have included the billionaire in their sanctions lists so far.