Dubai “Wallet”: How Lukashenko’s Arab Partner Built a Business Network in Lithuania and Stayed Beyond Sanctions

The material was prepared in partnership with the Lithuanian outlet 15min.lt, with the support of the Research and Data team of the Organized Crime and Corruption Reporting Project (OCCRP) and the CyberPartisans.

Lithuanian Real Estate 

In 2020, Lithuanian media noticed a little-known real estate firm, Puiki investicija (Lithuanian for “Great Investment”) for announcing a major development in Klaipeda. In the local city council the discussion occurred questioning how a firm with only a handful of employees and tiny profits could undertake such a venture, fueling rumors that Belarusian money was behind it. Meanwhile, the company acquired around 150 properties – including entire townhouse complexes and apartment blocks in Vilnius. The ultimate beneficial owner behind it was Mohammed Alsuwaidi, who owned Puiki Investicija through two UK-registered companies. Though he kept a low profile, investigators had previously found Al-Suwaidi’s ties to Viktor Chevtsov.

Venezuelan Origin

By 2007, Chevtsov was a key figure in Lukashenko’s so-called “Venezuelan period” — a high-profile alliance with Venezuela’s president, Hugo Chávez. To facilitate a flurry of deals in Venezuela, JSV “Belzarubezhstroy” was set up as a special-purpose construction enterprise, by a resolution of the Belarusian Council of Ministers’ with Chevtsov as board chairman. [*] Over the next few years, the firm signed contracts exceeding $1 billion to build housing complexes, factories for Belarusian tractors and trucks, and other infrastructure across Venezuela. Notably, Belzarubezhstroy received its first Venezuelan contracts in 2007 after Lukashenko’s meeting with Hugo Chavez.

In 2009 Al-Suwaidi acquired a 39% stake in Belzarubezhstroy. Earlier, in 2008 Alsuwaidi’s firms acquired stakes in several shareholders of CJSC “Trastbank” - formerly Infobank - which on paper gave the Emirati businessman control over Chevtsov’s bank. Alsuwaidi also set up another company in Dubai – PSGT Middle East General Trading (formerly Premier Seguros) – to act as an intermediary for the Venezuela projects. [*] [*] [*]

In this dual role, he was effectively on both sides of the table: as a co-owner of the construction contractor and as the middleman handling shipments of Belarusian machinery to Venezuela. PSGT has a commission arrangement with the Belzarubezhstroy. There was another project in UAE, where Belzarubezhstroy with Alsuwaidi and Chevtsov worked together. Owning Future Metro Technical Contracting LLC., they were involved among others in works at Dubai International Airport and the opulent Royal Atlantis Resort on Palm Jumeirah island. The company was sued for violating labor rights.

Belarusian Proxies in Lithuania

Chevtsov was only added to EU and Swiss sanctions lists in August 2024 after a Belarusian Investigative Center’s report exposed how he had monopolized the holographic industry in Belarus. By then, he had already seeded loyal associates in foreign companies to act on his behalf – including in Alsuwaidi’s Lithuanian ventures. Two Belarusian businessmen in particular emerged as Chevtsov’s proxies in Lithuania:

1. Alexander Gribovsky: He has been by Chevtsov’s side since the 1990s and worked at his Infobank in Minsk. Until recently, Gribovsky sat on the board of Puiki investicija, the Lithuanian developer owned by Alsuwaidi. Since 2010 he has headed the Belarusian representative office of Premier Seguros (now PSGT) – the very Alsuwaidi trading company that partnered with Belzarubezhstroy on the Venezuela contracts. [*]
2. Vital Bandaryk: General director of Belzarubezhstroy – at least in the 2012–2020 period and board member of Chevtsov’s CJSC Bank ‘Rashenne’ (formerly Infobank), who likewise served as a director of Puiki Investicija. Bandaryk represented Alsuwaidi in Belarus’s business projects overseas (for example, in Ecuador). [*]

Notably, after reporters began asking questions – Puiki investicija overhauled its structure in August 2025, dissolving its board of directors and removing Gribovsky, Bandaryk, and even Alsuwaidi from any official positions. However, Alsuwaidi remains the ultimate beneficial owner of the company.

Investigators managed to contact Bandaryk. He claimed to have never heard about Viktor Chevtsov and cut the conversation short.

Nevertheless, investigators received a letter from a person who introduced themselves as a lawyer representing the interests of Bandaryk and Gribovsky. In an unsigned letter, the previous Bandaryk’s statement was refuted:

“Business relations with Viktor Chevtsov indeed took place in the past, however, they have now been completely terminated. At the same time, none of my clients has ever acted as his nominee. I additionally emphasize that Viktor Chevtsov has never had and does not have any relation to the activities of UAB ‘Puiki investicija’.”

To our question—specifically, which lawyer or law firm we are dealing with—and our request to answer the other questions from our first letter, we have not received any reply.

Viktor Chevtsov answered our questions by email: “I would like to inform you that at present I have no business jointly with Mr. M. al-Suwaidi. I also have no role whatsoever in CJSC Bank ‘Rashenne’. I am likewise unaware of any business projects being carried out by Gribovsky and Bandaryk.”

Alsuwaidi claimed the same, but when later reminded about his ties with Chevtsov through Bank ‘Rashenne’ he claimed that “it was a long time ago”, and that investigators’ information “is wrong”. He refused to clarify this statement.

UAB Puiki investicija, via its law firm, stated it faced no protests, acted lawfully in the Klaipėda port project, confirmed recent ownership changes, and denied any links between the company, Viktor Chevtsov, and Al-Suwaidi.

Future Metro Tech Contracting LLC warned of possible legal action if its letter is published and stressed that neither Al-Suwaidi, Chevtsov, nor CJSC Belzarezhstroy own the company.

RSI Middle East FZ-LLC said it changed ownership in 2019, rebranded in 2022, and denied any ties—ownership, partnership, or employment—with Al-Suwaidi or Chevtsov, adding it no longer works with former Colombian partners.

In addition to the above, we also sent inquiries to CJSC “Bank “Rasheniye””, CJSC ViyaSETrade (CJSC Belzarezhstroy), Kromo Constructores S.A.S., and PSGT Middle East Trading LLC, but received no reply from these companies.

This is a shortened recap of the investigation. You can visit the Belarusian or Russian language page for the full version, where we include, among other things, more detailed responses of the subjects of the investigation to our inquiries.

The production of this investigation was supported by a grant from the Investigative Journalism for Europe (IJ4EU) fund.