How Putin’s inner circle profits from the war
russia’s largest drone manufacturer, Geoscan, has sharply increased its profits after a fund linked to the daughter of russian dictator vladimir putin, katerina tikhonova, acquired a stake in the company. In 2024, Geoscan’s net profit jumped nearly 6.2 times to a record 1.27 billion rubles (around 15 million USD).
According to Western media reports, other oligarchs close to putin—such as alisher usmanov, suleyman kerimov, andrey guryev, and others—have also profited during the war, as their factories shifted to supplying the military.
The war has proven extremely profitable for putin’s inner circle. They have taken control of military production and are now reaping windfall profits, while the “civilian” sectors of russia’s industry continue to decline. The emergence of putin’s daughter’s fund among the owners of Geoscan suggests that the military-industrial complex is being viewed as a promising source of revenue.
