Pekka Kallioniemi Profile picture
May 20, 2024 22 tweets 10 min read Read on X
In today's #vatniksoup, I'll introduce a Russian businessman and financier, Yury Kovalchuk. He’s best-known for being a close friend, confidant and "personal banker" of Putin's, and for strongly supporting the Kremlin's genocidal war against Ukraine.

1/21 Image
Kovalchuk was born in 1951 in St. Petersburg. He started his career during the 80s at the Loffe Physico Technical Institute, eventually becoming the institute's first deputy director. But Yury aspired for more & the fall of the iron curtain gave room for his business plans.

2/21 Image
Kovalchuk quickly learned that one didn't have to play fair to become rich in Russia during the 90s. He joined the board of directors of the Joint Ventures Committee, a government body involved with restructuring companies and finding (foreign) partners.

3/21 Image
Yury's first big mission was to restructure the Rossiya Bank. It had played a major role in the coup attempt of 1990, and many KGB & communist leaders had secretly funneled their money there. Kovalchuk then transformed it into a modern vehicle for foreign investment.

4/21 Image
Rossiya Bank also supported Putin's political rise during the 90s, and Kovalchuk was already at that point working from behind the scenes. The two became close, and Kovalchuk's "dacha" outside of St. Petersburg was right next to Putin's.

5/21 Image
In 1996, all residents of the area united their properties under one umbrella collective called "Ozero" ("The Lake"). Putin didn’t forget about his old neighbours, they all got prominent positions after he rose to power in 1999. Kovalchuk first became the director...

6/21 Image
...of the biggest Russian brewery, Baltica. Later he directed Rossiya Bank, where he had a 41% stake. Due to his powerful political connections, Kovalchuk became a household name in Russia's richest list. Forbes ranked him spot 53 in 2008 with an estimated fortune...

7/21
Image
Image
...of close to $2 billion. His wife's fortune was estimated to be around 600 million USD in 2019. Oppostion figures Boris Nemtsov and Vladimir Milov pointed to Kovalchuk's Rossiya Bank in relation to laundering more than 60 billion USD via the Gazprombank to...

8/21 Image
...offshore accounts during 2000-2010. Therefore, Kovalchuk was an essential cog in Putin's organised cronyism. As is tradition, Kovalchuk’s son Boris got a few prominent positions at an early age, as he was appointed as the director of "The Department of National Projects".
9/21 Image
Media is an essential instrument when it comes to solidifying power. For Putin, Kovalchuk has been an essential ally because of his media empire called National Media Group. This company controls many popular TV channels, newspapers, digital media and production studios.

10/21 Image
@anders_aslund has stated that "When people say Russian state television,they really mean Kovalchuk television." The Kremlin together with their cronies have utilized this same media ownership strategy in Ukraine and Georgia.



11/21
In 2015, Putin used the Foreign Agents Act to smoke out any dissidents from media companies, after which Kovalchuk's NGM bought channels like CNN Russia and Cartoon Network to their portfolio, further reinforcing his media monopoly.

12/21 Image
Since the beginning of the full-scale invasion, Kovalchuk's media channels have broadcast the most lunatic conspiracy theories and propaganda, ranging from "US-funded bioweapons laboratories" to "Ukrainian Nazi regime".

13/21
In 2021, Kovalchuk acquired the Russian social media platform VKontakte from another oligarch, Alisher Usmanov. This powerful propaganda platform is both an important platform for spreading the Kremlin narratives but also for aggressively collecting data of its users.

14/21
Image
Image
After the takeover, VK fired most of its management, who were then replaced by Kovalchuk's close confidants and relatives. The site has also been actively used for recruiting mercenaries to the meat grinder in Ukraine.

15/21

Image
Image
Image
Some have also speculated that after the Wagner leader Yevgeny Prigozhin's death, it was Kovalchuk who took over Prigozhin's infamous troll farms. If this is true, it means that these online trolls are now under direct control of the Kremlin.

16/21
Image
Image
Putin and Kovalchuk are extremely close, and journalist Mikhael Zygar considers Yury to be "number 2" in the Kremlin's pyramid of power. After COVID-19 hit Russia, Putin retreated to his Valdai residence together with Kovalchuk where they quarantined together.

17/21
Image
Image
While there, the two plotted on the return of the "Great Russia". They share an extremely anti-Western, conspiratorial and imperialist worldview with a hint of Russian Orthodox mysticism thrown in the mix. In Jun 2020, Putin published an article on "National Interest"...

18/21 Image
...titled "The Real Lessons of the 75th Anniversary of World War II". In this extremely revisionist take on history, Putin blamed Poland for Hitler's invasion and of course Ukraine and Stepan Bandera for acting as "cronies of Hitler and the Nazis".

19/21 Image
In 2021, the Navalny team exposed that the dacha where Putin and Kovalchuk spent time was actually owned by Kovalchuk since 2003. Yury quickly struck back by starting a massive smear campaign with leaked data such as e-mails against Navalny through his media empire.

20/21 Image
To conclude, Kovalchuk controls two extremely important factors in the Kremlin's genocidal war: funds and media. Allegedly, he also has a strong influence on Putin and has affected his revisionist and delusional worldview.

21/21 Image
This soup was prepared in collaboration with sous-chef @SLAVAUA2022NAFO.

Find us also on other socials:

instagram.com/vatniksoup/
youtube.com/@TheSoupCentra…
Image

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Pekka Kallioniemi

Pekka Kallioniemi Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @P_Kallioniemi

Jul 28
In today’s Vatnik Soup, I’ll introduce a Russian politician and First Deputy Chief of Staff of the Presidential Administration of Russia, Sergey Kiriyenko. He’s best known for running both domestic and foreign disinformation and propaganda operations for the Kremlin.

1/20 Image
On paper, and in photos, Kiriyenko is just as boring as most of the Kremlin’s “political technologists”: between 2005-2016 he headed the Rosatom nuclear energy company, but later played a leading role in the governance of Russia-occupied territories in Ukraine.

2/20 Image
Image
What is a political technologist? In Russia, they’re spin doctors & propaganda architects who shape opinion, control narratives, and manage elections — often by faking opposition, staging events, and spreading disinfo to maintain Putin’s power and the illusion of democracy.

3/20 Image
Read 21 tweets
Jul 27
Let me show you how a Pakistani (or Indian, they're usually the same) AI slop farm/scam operates. The account @designbonsay is a prime example: a relatively attractive, AI-generated profile picture and a ChatGPT-style profile description are the first red flags.

1/5 Image
The profile's posts are just generic engagement farming, usually using AI-generated photos of celebrities or relatively attractive women.

These posts are often emotionally loaded and ask the user to interact with them ("like and share if you agree!").

2/5 Image
Image
Then there's the monetization part. This particular account sells "pencil art", which again are just AI-generated slop.

Country code for the phone number is in Pakistan.

3/5 Image
Read 5 tweets
Jul 15
In today’s Vatnik Soup, I’ll introduce an American lawyer and politician, Mike Lee (@BasedMikeLee). He’s best-known for opposing the aid to Ukraine, undermining NATO by calling the US to withdraw from the alliance, and for fighting with a bunch of braindead dogs online.

1/21 Image
Like many of the most vile vatniks out there, “Based Mike” is a lawyer by profession. He hails from the holy land of Mormons, Utah, where he faces little political competition, allowing him to make the most outrageous claims online without risking his Senate seat.

2/21 Image
Before becoming a senator, Mike fought to let a nuclear waste company dump Italian radioactive waste in Utah, arguing it was fine if they just diluted it. The state said no, the public revolted, and the courts told poor Mikey to sit down.

3/21 Image
Read 23 tweets
Jul 14
While Ukrainians are terror bombed on a daily basis, rich Russians live in Europe like kings and queens.

This young lady lives in Portugal, and travels freely to Ibiza...
...the Alps...
... and of course Paris.
Read 5 tweets
Jul 7
In today’s Vatnik Soup, I’ll introduce an American national security policy professional and the current under secretary of defense for policy, Elbridge Colby (@ElbridgeColby). He’s best-known for fighting with cartoon dogs online and for halting military aid to Ukraine.

1/21 Image
Elbridge "Cheese" Colby earned his bachelor’s degree from Yale and a Juris Doctor from Harvard Law School. Before entering government, he worked at top think tanks and in the intelligence community, focusing on nuclear policy and strategic planning.

2/21 Image
Image
Cheese quickly became a key voice for a “China First” strategy, arguing the US must prioritize military buildup in Asia over commitments in Europe or the Middle East. He sees (or saw, rather) Taiwan as the core test of US credibility.

3/21 Image
Image
Read 23 tweets
Jul 6
In today’s Vatnik Soup, I’m going to talk about… Vatnik Soup! As some of you know, we also have a website where you can find every soup ever published. The site also has other useful resources, making it the most comprehensive resource on Russian disinformation & vatniks.

1/15 Image
Unfortunately, Elon has flagged the website as malware, as he might not be very happy about the soups I wrote about him - so far, they have garnered over 60 million views on X/Twitter.

The “freedom of speech” spokesperson doesn’t seem too keen on free speech, after all.

2/15 Image
The heart & soul of the website is of course the soups page. There you can find all 360+ soups, which can be sorted chronologically, by popularity, etc. You can also search for soups by title or even in the soup text:

3/15

vatniksoup.com/en/soups/
Read 15 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(