A week ago, FT Alphaville posted a long, convoluted piece on an Edinburgh-based Scottish Limited Partnership named Djeco Group that, for some reason, had been targeted by US sanctions relating to the war in Ukraine.
We simply wanted to know why. And, thanks to following a corporate breadcrumb trail that snaked through Scotland to Malta to Germany and, finally, to Moscow, we thought we’d almost figured it out. Yet, right at the end — after we landed on three companies named Sernia in Russia — the trail went a little cold.
Here was our final effort, in spider diagram form:
Today, however, the US Treasury put out a press release that bares a remarkable resemblance to our piece. Bar the fact that it reveals far more than we could from parsing Maltese company filings.
Here are some of the findings:
Moscow-based OOO Serniya Engineering (Serniya) is at the center of a procurement network engaged in proliferation activities at the direction of Russian Intelligence Services. This network operates across multiple countries to obfuscate the Russian military and intelligence agency end-users that rely on critical western technology. Serniya and Moscow-based OOO Sertal (Sertal) work to illicitly procure dual-use equipment and technology for Russia’s defense sector. Russia-based OOO Robin Treid, United Kingdom-based Majory LLP, United Kingdom-based Photon Pro LLP, and Spain-based Invention Bridge SL are front companies utilized by Serniya to facilitate its procurement of key equipment for the Government of the Russian Federation (GoR). Within the past month, the European Union and Japan have placed export-related restrictions on Serniya, Sertal, and Photon Pro. The UK is also taking coordinated action on the companies within its jurisdiction.
And, wouldn’t you know it? Just below that paragraph, is a spider diagram:
It goes on to discuss Ms Bernova — the owner of Djeco Group, and chief executive of Maltese film rental business MaltaRent — who featured heavily in our piece:
Evgeniya Vladimirovna Bernova (Bernova), an associate of the Serniya network, operates Malta-based Malberg Ltd (Malberg) though a multinational web of shell companies. Malberg has worked to deceptively acquire dual-use equipment on behalf of Russian end-users. Bernova’s network includes Malberg’s Director, Nikita Aleksandrovich Sobolev, UK-based Djeco Group LP, Malta-based Djeco Group Holding Ltd, Malta-based Maltarent Ltd, and France-based SCI Griber. In addition, Moscow-based Sernia-Film Co Ltd, where Bernova has served as a director, has facilitated the export of equipment by Malberg to intended government end-users in Russia.
So there you have it, in shining lights: Russia’s ties to a random Scottish Limited Partnership. Sometimes, it turns out, the truth is out there.
Related Links:
What on Earth is Djeco Group? — FT Alphaville
Djeco Group: the US Treasury reveals all
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