Andrei Rappoport: Alfa-Bank, the Federal Grid Company and Skolkovo

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Sanctions status — checked 18 October 2026

Not found on the OFAC SDN, UK OFSI or EU consolidated lists.

Absence from these three lists does not mean no restrictions apply elsewhere: other countries and earlier listings are covered in the sanctions section below. Checked against the OFAC SDN list, the UK OFSI consolidated list and the EU consolidated list. Sanctions lists change without notice — verify against the primary source before relying on this.

Current figure: Forbes puts Andrei Rappoport’s net worth at $1.4 billion as of 18 October 2026 (Forbes profile). Estimates are revised continuously and Forbes and Bloomberg frequently disagree.

Andrei Rappoport is a Russian investor who was the first chairman of the management board of Alfa-Bank. He then spent more than a decade in Russia’s electricity sector, at RAO UES and as head of the Federal Grid Company, and from 2011 to 2016 was president of the Skolkovo business school. Forbes now describes him as a private investor in more than 50 private equity and venture funds, living in Lugano, Switzerland. He is not on the US, UK, EU or Canadian sanctions lists. Ukraine has sanctioned him since October 2022.

  • Born: 22 June 1963 in Nova Kakhovka, Ukrainian SSR (Forbes Russia, Profile)
  • Education: Donetsk State University, economics, 1989
  • Known for: first head of Alfa-Bank; head of the Federal Grid Company until 2009; president of the Skolkovo Moscow School of Management 2011 to 2016
  • Sanctions as of October 2026: Ukraine (since 19 October 2022); not listed by the United States, the United Kingdom, the European Union or Canada

Career

Rappoport graduated from Donetsk State University in 1989 (Lenta.ru, Forbes Russia). In the early 1990s he became the first chairman of the management board of Alfa-Bank and held the post until 1996. Sources give 1991 or 1992 as the start (Profile, Forbes Russia, Lenta.ru). In 1997 and 1998 he was first vice president of the Yukos-Rosprom group (Profile, Forbes).

In 1998, soon after Anatoly Chubais became head of the state electricity holding RAO UES, Rappoport joined the company as a deputy chairman and member of its management board. From 2002 he also chaired the management board of the Federal Grid Company (FSK UES) (Lenta.ru, Forbes Russia). He left the Federal Grid Company in June 2009, when his contract was not renewed (Lenta.ru, Interfax).

In September 2011 he succeeded Ruben Vardanyan as president of the Skolkovo Moscow School of Management (Interfax). He was its president and chaired its coordination council from 2011 to 2016 (Profile). In 2012 he was first deputy chairman of the management board of the state technology company Rusnano for a few months, and in 2013 became an adviser to its chairman (Profile, The Moscow Times).

Georgia and investments

According to Forbes, after leaving RAO UES Rappoport bought Georgian Global Utilities and a Georgian water and power company, which he sold to BGEO Group in 2016 (Forbes). On 23 June 2016 BGEO announced that it would buy the remaining 75 percent of Georgian Global Utilities for $70 million in cash. The announcement does not name the seller (BGEO Group).

Since 2015 he has worked mainly as an investor abroad. Forbes describes him as an investor in more than 50 private equity and venture funds and an early investor in Datadog and Delivery Hero (Forbes, Profile). Forbes Russia gives Lugano, Switzerland, as his place of residence (Forbes Russia).

Portuguese citizenship

Rappoport became a Portuguese citizen under the law for descendants of Sephardic Jews, after the Jewish community of Porto certified him as Sephardic. Portuguese media, citing the newspaper Público, date his naturalisation to 30 December 2019 (Observador, Renascença). His representative told Forbes in July 2022 that he received it in 2021, in full compliance with the law (RTVI, citing TASS and Forbes, Forbes Russia). According to Forbes and his representative, he also holds Russian, Israeli and Cypriot citizenship (Forbes, RTVI).

In July 2022 Reuters reported that Portuguese police were investigating the Porto Jewish community on suspicion of money laundering, corruption, fraud and falsification of documents. The community called the accusations false (Reuters via Fiji Times). We found no report of an investigation into Rappoport himself.

Sanctions

CountryListedStatus in October 2026
Ukraine19 October 2022Listed for ten years (Presidential Decree No. 727/2022)
United StatesnoNot listed (OFAC SDN list)
United KingdomnoNot listed (UK sanctions list)
European UnionnoNot listed (EU consolidated list)
CanadanoNot listed (Canada’s consolidated autonomous sanctions list)

Ukraine’s National Security and Defence Council imposed sanctions on Rappoport on 19 October 2022. The decision was put into force by Presidential Decree No. 727/2022. The annex lists him with his date of birth and sets the measures, including the blocking of assets, for ten years. It gives no reasons (Decree No. 727/2022).

In January 2018 he was among the 96 businessmen named in the oligarch section of a US Treasury report to Congress, often called the Kremlin list (CNN, VOA). The Treasury said that this section covered Russians with an estimated net worth of $1 billion or more and that “this report is not a sanctions list” (US Treasury).

We checked the US, UK, Canadian and Polish lists on 7 October 2026 and the EU list as of 22 September 2026. Switzerland does not list him either (SECO list of 5 October 2026). A Boris Rapoport who appears on several Western lists is a different person.

About this profile

This profile was rewritten in October 2026. The 2022 version called Rappoport a close friend and confidant of Vladimir Putin and linked him to corrupt deals. We found no reliable source for either claim, and no record of any criminal proceedings against him. It also gave wrong dates for his time at the Federal Grid Company and gave 2016 as the year he bought his Georgian utilities, although that is the year he sold them. These statements have been removed. The net worth figure in the box at the top of this page comes from Forbes and carries its date.

Sources

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