In a major development targeting illicit financial networks, Konstantin Kruglov, a Moscow-based businessman, Dnipro native, and alleged financier for former Ukrainian MP Viktor Medvedchuk, has been arrested in Limassol, Cyprus, at the request of United States law enforcement. US authorities suspect Kruglov and his company, Universum Group, of orchestrating global schemes to bypass international sanctions against Russia, specifically utilizing the Russian «shadow fleet» for illicit oil trading.
The arrest reportedly took place as part of a coordinated international crackdown on financial networks facilitating trade for heavily sanctioned regimes.
According to US investigators, Konstantin Kruglov controls at least 14 companies with an aggregate annual turnover exceeding $9 billion. Beyond facilitating trade for the Russian Federation, companies tied to the businessman are allegedly implicated in logistics and banking operations designed to bypass US and EU economic sanctions imposed on Iran and Venezuela.
In Ukraine, Konstantin Kruglov and his corporate entities—including Universum Group and LLC Universum Agro Trade—have a history of scrutiny by law enforcement, having previously faced criminal investigations regarding large-scale tax evasion and the operation of illegal financial clearinghouses (so-called «conversion centers»).
In 2020, Ukrainian authorities reportedly drafted plans to impose state sanctions on Kruglov, but the businessman managed to evade the restrictions. Reports suggest this was achieved through high-level political cover and strategic connections within state institutions.
Specifically, sources identify Andrei Gmyrin as Kruglov’s direct business partner and overseer of the financial conversion networks. Gmyrin is currently a key suspect in a high-profile case led by the National Anti-Corruption Bureau of Ukraine (NABU) involving embezzlement at the State Property Fund, centered around its former head, Dmytro Sennychenko.
In a parallel effort to shape public and corporate perception within Ukraine, Kruglov founded and chaired a non-governmental organization named «Taxes of Ukraine,» established alongside the controversial firm LLC Universum Tax & Legal.
Investigative reports highlight that despite the ongoing military aggression against Ukraine, Kruglov maintained active, public ties with the Russian business elite. In February 2015, he participated as a speaker at an event hosted by the Moscow business community «Congress-Collegium.»
«The centerpiece of the event was a meeting with Garegin Tosunyan, President of the Association of Russian Banks… Presentations were delivered by industry specialists Konstantin Kruglov, Managing Partner of Universum, and Anna Proselkova, General Director of Accountprofi LLC,» contemporary Russian corporate bulletins noted.
Origin: Born on May 23, 1980, in Dnipro, Ukraine.
Education: Graduated from a local university in Dnipro in 2002, later earning an MBA from MIM-Kyiv. In 2015, following the annexation of Crimea, he remotely graduated from the Faculty of Psychology at Saint Petersburg State University.
Current Status: Despite ongoing investigations, he retains an active license to practice law in Ukraine.
Extradition proceedings are currently underway to transfer the detained businessman from Cyprus to the United States to face formal charges. The operations of the oil «shadow fleet» and its underlying financial pipelines remain a primary focus for international compliance and law enforcement agencies.