Dassault director still manages Kremlin’s money—report
Henri Proglio, a member of the board at Dassault Aviation, continues to manage the assets of the Kremlin elite and frequently travels to Moscow, independent Russian outlet The Insider reported on July 18.
Dassault Aviation, a major French defense contractor, supplies Ukraine with Mirage 2000 fighter jets and air defense systems.
The businessman owns three companies registered in Russia: Henri Proglio Consulting LLC, AP Energy Advisory LLC, and Mezhproect LLC. These are run either by Proglio or his family members. All three offer consulting services and together generated more than RUB633 million ($8 million) in revenue since Russia’s full-scale invasion of Ukraine in 2022.
Proglio has also served on the board of directors of ABR Management since at least November 2013. The company was established in 2011 by businessmen close to Russian dictator Vladimir Putin and nominal owners of his assets, including Yuri Kovalchuk and Mikhail Shamalov. According to the report, ABR Management now oversees what is described as the “Kremlin common fund”—assets held by Bank Rossiya, the state insurer SOGAZ, and National Media Group.
Besides Proglio, ABR Management’s board includes Kirill Kovalchuk, the brother of Yuri Kovalchuk, and Mikhail Klishin, chairman of Bank Rossiya’s board. The company has been under U.S. sanctions since 2016.
“Klishin and Kovalchuk have been under American sanctions since 2016, and in 2022 they were added to sanction lists in the EU, the UK, and Canada,” the report notes.
“Yet that does not stop the French executive from working with them—earning him large sums. In 2022-2024, payouts for board members’ fees totaled RUB110.7 million [$1.4 million].”
The publication reported that Proglio continues to fly to Moscow every few months.
From 2009 until 2014, he headed France’s national power company, Électricité de France, before being fired amid corruption allegations.
In 2014, Proglio became chairman of the board at defense conglomerate Thales, one of France’s major military contractors partly owned by the state. However, his ties with Russia forced him to leave the company a year later. According to Dassault Aviation’s 2024 filing, Proglio remains an independent director and chairs the company’s audit committee.
Proglio’s business dealings have long drawn media scrutiny due to his controversial relationships with Russian officials and state institutions. Despite numerous investigations, he has maintained a prominent role in French business circles.
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