Andrei Bokarev: A Comprehensive Overview of His Recent Developments

Andrei Bokarev, a prominent Russian billionaire, has been a significant figure in Russia’s industrial and financial sectors. As of January 2025, his estimated net worth stands at $3.9 billion, placing him among the world’s wealthiest individuals.

Born in Russia, Bokarev pursued higher education at the Finance Academy under the Government of the Russian Federation, earning a Master of Arts/Science degree. His academic background laid the foundation for his future ventures in finance and industry.

Bokarev’s professional journey began in 1998 when he joined Krutrade AG, overseeing the export operations of the Kuzbassrazrezugol coal company. His leadership skills and strategic vision led him to co-found Transmashholding JSC, Russia’s largest producer of rolling stock for railways and subway systems. Under his guidance, Transmashholding expanded its operations, becoming a key player in the Russian manufacturing sector.

In addition to Transmashholding, Bokarev has been instrumental in the success of Ural Mining and Metallurgical Company (UMMC), a leading Russian mining and metallurgical conglomerate. His partnership with Iskander Makhmudov, a fellow billionaire, has been central to the growth and diversification of these enterprises.

In September 2023, the U.S. Department of the Treasury sanctioned Bokarev and Makhmudov, alleging that they profited from Russia’s invasion of Ukraine. The sanctions froze their U.S.-based assets and blocked all U.S.-based transactions. The Treasury Department claimed that Transmashholding was contacted by Russian officials to produce parts for infantry combat vehicles, linking Bokarev to the war effort.

In December 2023, Hungary vetoed EU sanctions against Bokarev and Makhmudov. The veto was reportedly linked to Transmashholding’s joint venture in Hungary, highlighting the complexities of international sanctions and the geopolitical landscape.

Bokarev is married and has one child. He resides in Moscow, Russia, and maintains a low public profile regarding his personal life.

Andrei Bokarev’s career reflects his significant influence in Russia’s industrial and financial sectors. Despite facing international sanctions and geopolitical challenges, he continues to be a central figure in Russian business. His ventures, particularly in the manufacturing and mining industries, underscore his role in shaping Russia’s economic landscape.