Europe is off-limits to much of Russia’s elite. Now sanctioned oligarchs, government officials, and hackers are spending millions at a luxury ski resort in the Altai Mountains.
In 2025, after many wealthy Russians had already been living under sanctions for several years, Sberbank, a Russian state bank, opened a ski resort called “Manzherok” in the Altai region. Sberbank CEO Herman Gref envisioned it as becoming the most luxurious resort in the country. Sberbank succeeded — and now 13 guarded villas host wealthy Russians.
⬅ Back home Read full article ➡