Despite international sanctions, Russian senator Igor Zubarev has continued his profitable business activities in Europe through a complex network of nominee ownerships and strategic legal transfers, an investigation published by the Barents Observer -- produced in collaboration with Chronicles.Media -- has claimed.

Zubarev -- a senator from Karelia who ranked second in the 2022 list of the richest fishery industrialists in Russia's northwest, behind only Vitaly Orlov and his firm Norebo Holding -- fell under sanctions following Russia's invasion of Ukraine. To circumvent these restrictions, he transferred his business assets, including major firms like Fishing Company Virma and Fishing Company Variant, to trusted nominees and management firms, the investigation has found.

Norwegian firms have paid nearly $2 million to companies linked to Zubarev, who has continued to supply fish to Europe through Norwegian ports, it said.

Although Norway has imposed restrictions on Russian vessels, Zubarev's ships have been spotted in several Norwegian and Danish ports, raising concerns about potential sanctions violations.

Norwegian companies involved in these transactions claim to have conducted due diligence and found no direct ownership ties to Zubarev, the investigation said. However, nominee structures and closed-end funds have allegedly been used to obscure the true ownership of these businesses, allowing Zubarev to bypass sanctions and continue trading with Europe.