Crimea's largest winery Massandra bought by firm affiliated with "Putin's cashier " – media

Russian occupation authorities in Crimea have sold the Massandra winery at an auction held December 14.

According to the official data, the buyer is a subsidiary of the Rossiya Bank, LLC Yuzhniy Proekt, Krym.Realii wrote.

The winning bid stood at RUB 5.327 billion.

Another participant in the auction, was LLC Estate Group, which offered a smaller sum of RUB 5.3 billion.

The outlet says Yuzhniy Proekt is registered in St. Petersburg, with 99.9% of its shares owned by JSC Joint Stock Bank Russia.

Read alsoUkraine to seize 44 more Russian planes for flights to occupied CrimeaIn December 2017, the company also bought the Novyi Svet sparkling wine producer based in the Crimean city of Sudak, for RUB 1.5 billion.

The main shareholder and former chairman of the board at the Rossiya Bank is Yuri Kovalchuk, whom journalists refer to as "Putin's cashier."

The U.S. Treasury Department had imposed sanctions against both Kovalchuk and the Rossiya Bank.

Massandra winery: Background

JSC Production and Agricultural Association Massandra is the oldest and largest winery on the Russian-occupied peninsula.

After the start of Crimea occupation by Russia, Massandra's production routine faced difficulties. The enterprise was unexpectedly handed over to be controlled by the administrative department of the Russian President, while a long-time CEO Mykola Boyko, who had been in charge of the company for 28 years, was fired and even charged in a criminal investigation.

The vineyards, formerly owned by Massandra, were being sold out, while the winery started producing dry wine instead of its traditional jeres and port.

At the same time, Massandra came under the EU sanctions imposed for the annexation of Crimea.

In 2015, Ukraine was furious over the opening of five bottles of 240-year-old Jerez de la Frontera from Massandra's acclaimed collection – for a cellar tour of Vladimir Putin and Italy's Silvio Berlusconi.