Patokh Chodiev
Patokh Chodiev | |
|---|---|
| Born | April 15, 1953 Uzbekistan |
| Occupation(s) | Philanthropist, businessman, oligarch |
| Known for | Co-founder of Eurasian Natural Resources Corporation (ENRC) |
Patokh Chodiev (; Fáttoh Kayúmovich Shódiev; born 15 April 1953) is a philanthropist and oligarch holding Belgian-Uzbek citizenship.
Following the dissolution of the Soviet Union, he accumulated significant wealth by acquiring privatized mineral and gas assets in Kazakhstan, collaborating with partners Alexander Mashkevich and Alijan Ibragimov. Together, they established Eurasian Natural Resources Corp., a leading enterprise in the natural resources industry.
Chodiev was listed among the Forbes billionaires until 2020. Investigations from the Pandora Papers exposed his connection to at least 25 offshore entities. He has received accolades from both Russia and Japan for his charitable contributions, particularly in education, cultural exchange, and the arts.
Early life and education
Chodiev was born in Uzbekistan and pursued studies in international law and Japanese at the Moscow State Institute of International Relations (MGIMO), where he completed a doctorate in political science. Proficient in Japanese, he engaged in diplomatic roles centered on Russian-Japanese trade relations and spent several years residing in Tokyo.
Economic activities
In partnership with Alexander Mashkevich and Alijan Ibragimov, Chodiev manages operations within the mineral extraction sector spanning Kazakhstan, Africa, and Brazil. Their company was listed on the London Stock Exchange in 2007 and entered the FTSE 100 index a year later. In 2009, Eurasian Natural Resources Corporation (ENRC), where Chodiev holds a significant stake, reported revenues of $3.8 billion with profits amounting to $1.462 billion. Headquartered in London, ENRC expanded its mineral resource development through acquisitions across Eastern Europe and Africa. The firm rebranded as "Eurasian Resources Group" (ERG) in November 2013, is registered in Luxembourg, and concentrates on natural resource extraction. By 2017, ERG achieved an EBITDA of $2 billion and received an upgraded credit rating from Standard & Poor's—rising from B− to B in June 2018—reflecting favorable trends in the metals market.
Philanthropic actions
Established in 1996 to assist students at the Moscow State Institute of International Relations (MGIMO), the International Chodiev Foundation (ICF) has grown into a global philanthropic entity supporting academic research, cultural initiatives, child welfare programs, humanitarian aid, and education. As one of Russia’s longest-standing charitable organizations, ICF operates across Ukraine, Russia, Kazakhstan, Uzbekistan, and Japan.
In September 2017, the foundation inaugurated a representative office in Uzbekistan aimed at delivering humanitarian and healthcare assistance to orphanages. Simultaneously, Chodiev revealed intentions to invest in projects such as shopping centers and a metallurgical facility in Tashkent, indicating strategic business growth within Uzbekistan.
Acquisition of Belgian citizenship
Patokh Chodiev became a Belgian citizen on 27 June 1997, an event that stirred public controversy due to his limited proficiency in Belgium's official languages (Dutch, French, German). The Belgian State Security Service expressed concerns regarding his ties to other Russian businessmen but ultimately concluded that there were no issues to report.
Allegations also surfaced that Chodiev benefited from support provided by the mayor of Waterloo. An official investigation conducted in January 2017 uncovered that by May 1997, Chodiev had backing from several key institutions, including SPF Justice, the State Security Service, the Aliens Department, Waterloo police, and the Public Prosecutor's Office. On 8 March 2017, Serge Kubla denied under oath any involvement in assisting Chodiev. The lead investigator, Jean-François Kayser, found no proof that Kubla influenced the Waterloo police chief.
Legal proceedings involving Georges Gilkinet
During the parliamentary inquiry into the expanded criminal settlement known as "Kazakhgate" between 2017 and 2018, Patokh Chodiev’s naturalization process underwent detailed examination. At that time, Georges Gilkinet, serving as vice-chairman of the commission, made several defamatory statements about Chodiev in various media outlets, which led to multiple lawsuits initiated by Chodiev.
On 30 April 2018, the commission unanimously determined that Serge Kubla had no role in Chodiev’s citizenship acquisition and cleared him of any connection to the penal transaction law. While Chodiev’s legal counsel criticized the commission for partiality, he expressed willingness to withdraw complaints if Belgian authorities acknowledged the commission’s misconduct and its repercussions on Chodiev.
On 19 June 2019, the Namur court rejected Chodiev’s complaint against Gilkinet as inadmissible and without merit; this decision was subsequently appealed by Chodiev. Later, on 28 January 2021, the Court of Appeal of Liège ruled against Gilkinet for defamatory conduct. This verdict was confirmed by the Court of Cassation on 24 November 2022, reinforcing Patokh Chodiev’s stance.
Additional media reports
In 1999, energy firm Tractebel accused two staff members of misappropriating a portion of the $55 million consulting fees paid to Patokh Chodiev and his partners. Separately, all three associates underwent Belgian investigations concerning forgery and money laundering; however, these cases were dismissed in June 2011 following an extension of the criminal transaction law. They settled with a lump sum payment amounting to 522,500 euros. A Brussels prosecutor informed the Financial Times in August 2011 that no ongoing legal proceedings existed and no convictions had been issued, thus maintaining their presumption of innocence.
Patokh Chodiev was listed among 732 Belgian nationals connected to offshore entities revealed in the Panama Papers leak in April 2016.
In 2018, ENRC faced allegations involving bribery aimed at securing mining concessions in Kazakhstan and Africa.
In 2022, ENRC filed a lawsuit against a British journalist over his publication Kleptopia: How Dirty Money is Conquering the World, which accused ENRC of involvement in the deaths of three employees. The court dismissed this lawsuit.
Awards and Honors
In 2019, the Russian Ministry of Culture honored Chodiev as the "Patron of the Year" at the Eighth International Cultural Forum held in Saint Petersburg, recognizing his sponsorship of the Russian tour featuring the Traditional Japanese Kabuki Theater.
The following year, 2020, he was awarded the Order of Friendship (Russia) in acknowledgment of his efforts in promoting education, fostering intercultural dialogue, and supporting the arts. Additionally, Japan conferred upon him the Order of the Rising Sun (First Class) to commend his impactful role in strengthening economic and cultural relations between Japan and Russia.