Golden parachute for Anatoly Tikhonov: where the Picasso paintings and 43 million euros of the former deputy minister of energy were "hidden"
In February 2026, the cassation court upheld the sentence of former Deputy Energy Minister Anatoly Tikhonov (5.4 years for embezzling over 270 million rubles and taking bribes in the creation of the State Information System of the Fuel and Energy Complex), but reduced his ban on holding public office from 14 to 3 years.
Deputy CEOs of LANIT JSC, Makarov and Serebryakov, did not appeal the appellate ruling, likely on the instructions of the company’s owner, Filipp Gens, who, in exchange for silence regarding other embezzlement episodes in similar state IT projects, paid court fines of 77 million rubles for each of them.
Also in the dock was Tikhonov’s common-law wife, Valeria Kovalenko, who received a suspended sentence.
According to a source, on paper the case appears to be a high-profile investigation brought to completion. In reality, it looks like a financial issue left unresolved.
Golden parachute for Anatoly Tikhonov: where the Picasso paintings and 43 million euros of the former deputy minister of energy were "hidden"
Golden parachute for Anatoly Tikhonov: where the Picasso paintings and 43 million euros of the former deputy minister of energy were "hidden"
Golden parachute for Anatoly Tikhonov: where the Picasso paintings and 43 million euros of the former deputy minister of energy were "hidden"
Golden parachute for Anatoly Tikhonov: where the Picasso paintings and 43 million euros of the former deputy minister of energy were "hidden"
Tikhonov is required to pay a 500 million ruble fine and 251 million rubles in damages awarded to Russia’s Ministry of Energy.
So far, only 122 million rubles have been recovered from funds held in his bank account.
What happened to the Fabergé items and the original Picasso painting that were widely reported by law enforcement as being seized during searches of Tikhonov’s home?
Golden parachute for Anatoly Tikhonov: where the Picasso paintings and 43 million euros of the former deputy minister of energy were "hidden"
Golden parachute for Anatoly Tikhonov: where the Picasso paintings and 43 million euros of the former deputy minister of energy were "hidden"
The Prosecutor General’s Office previously reported the seizure of assets belonging to Tikhonov and his son Artem, including €43.6 million held in accounts of Archuleta SA in Monaco, over €1 million in the son’s foreign account, and other overseas assets. However, there is still no public clarity on how these funds relate to enforcement of the sentence. The current status of these assets remains unknown.
Golden parachute for Anatoly Tikhonov: where the Picasso paintings and 43 million euros of the former deputy minister of energy were "hidden"
Golden parachute for Anatoly Tikhonov: where the Picasso paintings and 43 million euros of the former deputy minister of energy were "hidden"
Golden parachute for Anatoly Tikhonov: where the Picasso paintings and 43 million euros of the former deputy minister of energy were "hidden"
Officially, neither the Prosecutor General’s Office of Russia, nor the Ministry of Energy, nor the Federal Penitentiary Service are taking action to recover funds or sell off the assets of the Tikhonov and Kovalenko family.