Spanish Authorities Probing Gavary Group Over Alleged Cooperation With Russian Military

The Spanish authorities launched an investigation into activities of the international industrial holding, Gavary Group, over its alleged active cooperation with various companies of the Russian defense industrial complex, the Spanish newspaper Periodico reported on Friday, citing sources in the Economy Ministry

MADRID (UrduPoint News / Sputnik - 24th March, 2023) The Spanish authorities launched an investigation into activities of the international industrial holding, Gavary Group, over its alleged active cooperation with various companies of the Russian defense industrial complex, the Spanish newspaper Periodico reported on Friday, citing sources in the Economy Ministry.

Last week, the Ukrainian authorities included the company in the list of potential targets for sanctions, accusing it of financing the Russian military machine.

A dossier on the Gavary Group, which specializes in polymer products, synthetic plastics for industrial use, has been submitted to the executive service of the Commission for the Prevention of Money Laundering and Monetary Offenses (SEPBLAC), the body responsible for investigating potential violations of European sanctions, the media reported.

Around 15 companies of the Gavary Group are directly or indirectly controlled by the Kamaryan brothers, the report said. One of them is a Russian citizen, while the other a citizen of Spain. Gavary Railways is an exception, the majority shareholder of which is David Maghakyan, the newspaper said.

In Spain, the company mainly sells car mats under the Eva Motion Car Mats brand, but this is only a small part of its business. In 2021, Gavary Group's turnover amounted to more than 96 million Euros ($103 million), according to declarations submitted to the Russian tax authorities and commercial registers of Barcelona and London.

The article said that several major Russian military enterprises were among clients of the Gavary Group, including the assault rifles manufacturer Kalashnikov Concern and jet engines producer ODK-UMPO. At the same time, the news outlet said, the holding allegedly continued to import and export products from Russia to the EU in recent months, despite sanctions against various types of polymers and plastics. The group uses Softteh, a Latvian-based limited liability company, as an importing entity. Its sole beneficiary is Gayane Dadoyan, the mother of the Kamaryan brothers who is also a Spanish citizen, according to the report.