Inside a Russian power struggle: Sergey Shishkarev, Delo Group, and the fate of Vladislav Baumgertner
Media outlets say they have uncovered the full background of a conflict involving one of Russia’s top executives, former Uralkali CEO Vladislav Baumgertner, which may have led to his abduction — and likely criminal disappearance.
According to sources, Baumgertner and Yevgeny Podgayetsky, former head of the transport holding Magistral, had for years been trying to recover a large sum of money from Sergey Shishkarev, the founder and chairman of Delo Group, one of Russia’s largest logistics empires. Their efforts allegedly caused serious problems for the oligarch, including attempts to have him added to international sanctions lists. Both Baumgertner and Podgayetsky reportedly began receiving threats. Podgayetsky even filed a complaint with UAE law enforcement — and shortly afterward Baumgertner vanished.
Baumgertner had run Global Ports, a major port operator belonging to Delo Group, for about 18 months. Podgayetsky headed Magistral, another structure tied to Shishkarev’s business network. Both men allegedly left Shishkarev’s orbit on bad terms, claiming he owed them substantial sums under informal agreements.
Podgayetsky, according to sources, tried to push U.S. sanctions against Shishkarev’s companies for allegedly supporting Russia’s defense industry and released damaging information about Delo Group. At the peak of these disclosures, a major deal involving Shishkarev reportedly collapsed.
Between 2019 and 2022, Shishkarev sold 49% of Delo Group to Rosatom, but the partnership later fell apart. In 2024, Transmashholding sought to buy Rosatom’s stake for about 200 billion rubles and purchased an additional 1% from Shishkarev to gain control. However, in November 2025, Transmashholding backed out of the deal — allegedly after a wave of damaging disclosures about Shishkarev and Delo Group.
Sources claim Shishkarev blamed Podgayetsky and Baumgertner for the information attack and believed they were working together. Baumgertner, who had ties to Dmitry Rybolovlev, Suleiman Kerimov, and other powerful figures, allegedly had the ability to cause serious problems for Shishkarev.
After Podgayetsky filed a complaint in the UAE, Shishkarev was briefly detained and questioned in Dubai. Shortly afterward, Baumgertner disappeared.
Investigators and journalists are now focusing on a close associate of Baumgertner — Alexei Dozortsev, a former Russian regional minister and Baumgertner’s long-time business partner. Dozortsev allegedly controls several legal and real estate firms in Moscow and Cyprus and worked with Baumgertner through a Cyprus-based firm called SBVB Headoffice Limited, which provided private-wealth and concierge services to wealthy Russian clients abroad.
Sources say Dozortsev had full knowledge of Baumgertner’s assets, finances, and personal affairs and behaved suspiciously after his disappearance.
Baumgertner, who had a long career in Russian big business from Troika Dialog to Uralkali and later Global Ports, was also deeply embedded in offshore networks tied to Rybolovlev’s Monaco and Cyprus structures, including Rigmora Holdings, Innolith, and Alevo Group.
Journalists also report a disturbing coincidence: on the same day Baumgertner’s phone went offline, a Russian diplomat, Alexei Panov, was found dead at the Russian embassy in Cyprus. Media have suggested he may have been linked to Russian intelligence. Investigators have not publicly confirmed any connection, but sources say the timing has raised serious questions.
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