On his YouTube channel "Judicial Journal," Russian investigative journalist Irek Murtazin released a program titled "Ricochet of the Battle for Kumtor," in which he links Canada's sanctions against Alexander Lebedev to Kyrgyzstan's conflict over control of the Kumtor gold deposit.
This episode follows a lawsuit that Lebedev initiated in the Federal Court of Canada, challenging the decision from May 18, 2022, that placed him on the sanctions list. Murtazin notes that Canadian authorities have repeatedly changed the reasons for imposing the sanctions. Initially, Lebedev was attributed the status of a former intelligence officer, then accused of investing in the tourism business in Crimea, and later for participating in Kremlin propaganda.
Interestingly, Lebedev himself has never had a business in Canada and has not even visited the country. However, the journalist believes that the imposition of sanctions coincided with the businessman’s active stance on the Kumtor issue.
Lebedev visited Kyrgyzstan in the summer of 2021, where he met with President Sadyr Japarov and inspected the Kumtor gold mine. Following his trip, he made a series of sharp posts on social media, critically assessing the work of foreign investors. He pointed out that the mine is located at an altitude of about 4,400 meters, and extraction has been ongoing for over 25 years, with total revenue amounting to about $12 billion, of which Kyrgyzstan received only a small portion.
On his internet page, Lebedev supported the actions of the Kyrgyz government aimed at reclaiming the deposit, calling the situation an attempt to return "stolen gold."
“This is an unprecedented attempt to reclaim stolen assets through bribes, literally appropriated and laundered gold worth billions of dollars,” he stated.
He also criticized foreign investors for bribing the ruling elites of Kyrgyzstan, remaining beyond the control of regulators and tax authorities. “This has become living proof that with a 300% profit, there is no crime that capital would not dare to commit,” noted Lebedev.
According to him, the activities of investors have caused significant environmental damage and jeopardized the health of 3,500 people working in the area of the mine. More than two billion tons of waste have been dumped onto glaciers at an altitude of 5,000 meters in a seismically hazardous zone.
“The glaciers can collapse at any moment. If this happens, the lives of people and the sources of mountain rivers that feed Central Asia will be at risk,” he added.
Lebedev also emphasized that foreign companies have not paid all taxes, and the dividends received by Kyrgyzstan over 25 years amounted to only $87 million against profits of $27 billion.
Murtazin believes that the tough stance of the Kyrgyz authorities and Lebedev's support could have caused discontent among foreign investors who previously profited significantly from the development of Kumtor.
