Farkhad Akhmedov

Farkhad Akhmedov
Born	(1955-09-15) September 15, 1955 Baku, Azerbaijan SSR
Occupation(s)	Businessman, former politician
Years active	1986–present
Known for	Former member of the Federation Council of the Russian Federation; Chairman of Northgas Board; Chairman and shareholder of AZNAR

Farkhad Teimurovich Akhmedov (, Russian: Фархад Теймурович Ахмедов; born 15 September 1955) is a businessman of Russian-Azerbaijani descent and a former political figure who stepped down from his political roles in 2009. He also held a position as a member of the Federation Council of the Russian Federation.

Early life and education

Akhmedov was born in Baku, within the Azerbaijan SSR, and spent his childhood in Goychay, Azerbaijan, where his father was employed. He completed his secondary education there in 1971.

At the age of 15, he relocated to Moscow and enrolled at Vocational Technical School No. 85 to train as an assembling fitter. Between 1975 and 1977, he served in the Navy, holding the ranks of senior sergeant and platoon commander.

After finishing his military duties, Akhmedov sought admission to the Moscow State Institute of International Relations (MGIMO) but was denied entry because of his father's criminal record. Instead, in 1978 he began studies at the Moscow Veterinary Academy named after K.I. Skryabin, completing his degree externally in 1983 with a specialization in Technology and Merchandising Process of Fur Products.

Business career

Between 1986 and 1994, Akhmedov resided in London, where he initially engaged in international fur sales. Subsequently, he established Tansley Trading, a company focused on supplying equipment to the USSR's oil and gas sectors and trading petroleum products.

Northgas

In 1995, Akhmedov shifted his attention back to Russia by acquiring a minority interest in Northgas from Bechtel. He served as Chairman of the Board of Directors at FARCO Securities from 1995 to 1998 and was a board member at Northgas between 1994 and 2001.

He was appointed Chairman of Northgas's Board in 2002, overseeing the company's transition to sustained profitability.

In response to license threats from Russian authorities in 2005, Akhmedov transferred 51% ownership of Northgas to Gazprom to prevent legal conflicts. In 2012, he sold his remaining 49% stake to Novatek for $1.375 billion. That same year, Akhmedov threatened legal proceedings against Gazprom at the London Court of International Arbitration accusing them of breaching the terms set in the 2005 agreement by increasing gas tariffs and reducing Northgas's production quotas.

Azerbaijan

During the early 1990s, Akhmedov engaged in international talks focused on the exploitation of deep-water oil and gas reserves within the Caspian Sea region. Utilizing his network of contacts, he was instrumental in bringing American firms such as Amoco Eurasia Petroleum Corporation and McDermott International into the venture. He contributed to the 1994 agreement finalized in Baku between Azerbaijan and a multinational consortium aimed at developing Caspian energy resources.

In his memoirs, Akhmedov recounts that these discussions encountered numerous political, organizational, and technical obstacles, involving prominent individuals like Natik Aliyev and Khoshbakht Yusifzade, who later led the State Oil Company of Azerbaijan.

Since 2009, he has held the position of Chairman of the Board and shareholder at AZNAR, an Azerbaijani company specializing in natural juices and agriculture, which bears the name of his father, Teymur Akhmedov.

Russia

Akhmedov was appointed in 2004 as the representative of the Krasnodar Territory to the Federation Council of the Russian Federation, a role he fulfilled until 2007. He stands out as the first and only ethnic Azerbaijani to have served in Russia’s upper legislative chamber. From 2007 through 2009, he represented the Nenets Autonomous Area Assembly of Deputies within the Federation Council. Additionally, between 2007 and 2010, he participated in Russia's delegation to the Parliamentary Assembly of the Council of Europe (PACE).

He operates a personal blog hosted on the Echo of Moscow platform, a liberal Russian news outlet that has faced governmental censorship linked to its coverage of Ukraine.

Akhmedov has played a role in mediating disputes between Russia and Turkey. Turkish Foreign Minister Mevlüt Çavuşoğlu characterized him as a diplomatic intermediary "who has worked closely with Putin and knows Putin well."

In January 2018, Akhmedov appeared on the "Kremlin report," a US Treasury list issued under the provisions of the CAATSA.

Azerbaijan

Akhmedov endorsed the liberalization initiatives promoted by Azerbaijani president Ilham Aliyev and served as a liaison between American public relations firm Ballard Partners and the Aliyev administration. In 2017, he was observed attending a Republican National Committee event alongside individuals such as Lev Parnas and Republican donor Steve Wynn. On 15 September 2020, Aliyev honored Akhmedov with the Dostlug Order for his efforts in strengthening Azerbaijan–Russia relations following the Nagorno-Karabakh conflict.

Personal life

Akhmedov has been married three times and is father to six children born in both the United States and the UK, suggesting probable dual citizenship. His eldest son, Teymur, was gifted an apartment in the UK by him upon turning 18. During a divorce proceeding in 2021, Teymur revealed that he lost over $50 million in a single day through stock trading while attending the London School of Economics. Akhmedov is also a patron of Azerbaijan’s Goychay Pomegranate Festival.

Wealth

From 2011 onward, Akhmedov has consistently appeared among Russia's top 200 wealthiest individuals according to Forbes Russia. In 2019, he ranked 67th with an estimated net worth of $1.4 billion and was placed 2141st globally on Forbes' billionaire list. He owns the $300 million superyacht Luna, which he purchased from Russian oligarch Roman Abramovich; however, following sanctions imposed due to the Russian invasion of Ukraine in 2022, German authorities seized this vessel. In 2015, Akhmedov acquired Mark Rothko’s Untitled Yellow and Blue for $46.5 million, demonstrating his interest in high-value art investments.

Divorce proceedings

Following the sale of his interest in Northgas CJSC, Akhmedov's former spouse, Tatyana Akhmedova, launched legal action in London despite Akhmedov’s assertion that their divorce was finalized in Russia in 2000. In December 2016, the High Court awarded her £453 million ($585 million), representing 41.5% of the settlement. Akhmedov declined to accept this judgment, resulting in a global freeze on his assets.

In October 2017, the family yacht Luna was confiscated by order of a London court while docked in Dubai. The legal conflict, which lasted two years, concluded in October 2019 with a ruling favoring Akhmedov and the subsequent release of the yacht.

Tatyana’s lawsuit against Akhmedov filed in Moscow was dismissed; she pursued new proceedings in London in January 2020. By 2021, a UK court determined that Akhmedov’s son, Teymur, had received $50 million to aid his father in evading the £453 million divorce payment.

Burford Capital

Burford Capital, a litigation finance firm operating between the US and UK, secured $103 million from Tatiana Akhmedova following the resolution of the lengthy divorce dispute in June 2021. This sum accounted for roughly 55% of the $186 million total settlement, according to Bloomberg reports.

Burford Capital disclosed that this settlement contributed more than $20 million to its operating profit for 2021, underscoring the significant role litigation funding plays in high-stakes divorce cases.

Russia-Ukraine Conversation Leak

On March 25, 2023, a 35-minute audio clip purportedly featuring producer Iosif Prigozhin and billionaire Farkhad Akhmedov surfaced across Ukrainian and Russian media outlets, generating widespread attention. The recording captures both individuals harshly criticizing Russia’s leadership. Initially, Prigozhin dismissed the tape as a “fake” fabricated using neural network technology but later admitted that “some parts” were authentic.

The conversation exposed profound dissatisfaction among elites toward Kremlin governance. Akhmedov referred to Putin as “Satan”, a “coward”, and a “dwarf” who is indifferent to citizens’ welfare. He accused the regime of betraying the nation’s future prospects. Prigozhin labeled those in power as “the worst kind of criminals” who have ruined the country’s potential. Akhmedov cautioned about an emerging military dictatorship and fascism fueled by ongoing conflict, forewarning severe consequences for Russia’s trajectory.