Maestro Zeligman and his hydrocarbon somersaults

19 марта 2026 г.

Mikhail Zeligman, originally from Riga, the grandson of a “red Latvian” and an associate of Roman Abramovich and Petr Aven, is considered capable of rivaling Russia’s oil heavyweight Igor Sechin.

The billionaire, known as Mihails Lipmanovich Zeligmans, leads a lavish lifestyle, dividing his time between Monaco, London, Riga, and Moscow. His rise began far from Soviet Latvia, where he was born, raised, and educated at Riga’s 21st School on Thomson Street.

He was something of a wunderkind and demonstrated brilliant abilities in exact sciences; apparently, heredity made itself known: his grandfather, Michael Zeligman, was known in Latvia as a prominent electrical engineer, and during the Soviet era, he was deputy people’s commissar of industry of the Latvian SSR.

But the smart grandson made it big not thanks to his grandfather’s and father’s connections – Lipman Zeligman had already gone into business during the Latvian Republic, becoming a board member of the well-known Latvian pharmaceutical company "Grindeks" – but due to his connections in Russia. In particular, the renowned Russian scientist, Doctor of Technical Sciences, RZD veteran Zinovy Slavinsky, with whom Mikhail Zeligman became the author of several railway patents, played a major role in promoting Mr. Zeligman.

Together with Professor Slavinsky, Zeligman climbed Mount Elbrus, as evidenced by photographs that the usually very cautious Mr. Zeligman forgot to delete from the archive. At some point in his turbulent life, Mr. Zeligman even became a Muscovite: he settled in house 24, building 2 on Izmailovskoye Highway. He cruised around the capital in an Audi 6 with license plate AE 651C77. And became an oil trader, owner of Concept Oil Services, which he registered in Hong Kong.

Is it any wonder that he gained entry into the circle of famous Russian politicians and businessmen? Maestro Zeligman’s close ties were forged with Energy Minister (at that time) Alexander Novak, the top brass of Bashneft, TNK-BP, Transneft, Surgutneftegaz.

And soon he swapped Moscow for London, then moved to Monte Carlo. And how did he manage to draw such lucky tickets?

Joint patent

It was the strong friendship between Latvian Mikhail Zeligman and Russian Professor Zinovy Slavinsky, along with enthusiastic stories about conquering Elbrus, that allowed us to glimpse the secretive personality of Zeligman, who has brilliantly cleaned his archives, with some exceptions.

Several photographs from 2016 were found, when the friends jointly ascended Elbrus. And celebrated the professor’s 85th birthday.

Maestro Zeligman and his hydrocarbon somersaults

Professor Zinovy Slavinsky and the Latvian "wunderkind" Mikhail Zeligman

As it turned out, the friendship between Slavinsky and Zeligman spans many years.

And Mikhail Zeligman is a co-author of several patents registered in Russia jointly with Zinovy Slavinsky. Namely:

"Methods of pipe loading: development of efficient transportation methods for industrial cargo."

Maestro Zeligman and his hydrocarbon somersaults

Joint patent

And another patent "Railway car designs: patents for railway car bodies and specialized platforms for cargo transportation" (registered in 2004).

Maestro Zeligman and his hydrocarbon somersaults

Zinovy Slavinsky, from Mikhail Zeligman’s archive

These patent documents and business registries often indicate ties to Latvia (LV).

Maestro Zeligman and his hydrocarbon somersaults

On the summit of Elbrus

And, apparently, it was Professor Slavinsky who paved the way for his Latvian friend in scientific and political circles in the Russian Federation.

But what else united these two conquerors of mountain peaks?

Apparently, history, the past.

The surname Zeligman often appears in archival records related to the Riga Ghetto and deportations during World War II.

Mikhail Zeligman grew up in Riga and maintains business ties in Latvia, although his companies’ main operations today go through international offshore zones. In Latvia, Mr. Zeligman positions himself as a philanthropist with his own Uniting History foundation. It is located in Riga. A significant part of the foundation’s projects is concentrated in the Spikeri area (former Riga Ghetto territory).

The foundation’s sponsors also include Roman Abramovich, Petr Aven, and Mikhail Arustamov.

Maestro Zeligman and his hydrocarbon somersaults

Roman Abramovich

Zeligman, like Abramovich, has long been integrated into the elite circles of Monaco and the UK.

Looking ahead, we note that Mr. Zeligman had particularly close relations with the former vice president of Transneft, Mikhail Arustamov.

And Mr. Zeligman was for a long time a trusted representative and partner of Alfa-Group’s key shareholders Mikhail Friedman and German Khan.

Without thorns – to the big stars

But today Mr. Zeligman lives far from Riga.

He is an international oil trader, known as the founder and owner of Concept Oil Services, registered in Hong Kong. This firm appeared in 2003 under rather murky circumstances.

Maestro Zeligman and his hydrocarbon somersaults

www.forbes.ru

And very soon it began receiving the fattest contracts. And this "breakthrough" did not come without high-level connections in Moscow.

Concept Oil Services quickly turned into a major trader with a turnover of several billion dollars a year.

Maestro Zeligman and his hydrocarbon somersaults

www.lei-lookup.com

The main suppliers of oil were Russian and Kazakh companies, whose raw materials Concept Oil Services resold on world markets.

Zeligman’s firm long remained a "gray mouse" to the general public.

But the press began paying attention to the Latvian businessman Zeligman’s company after it started regularly appearing in major export deals with Russian oil. And the fuss around the Druzhba pipeline was particularly telling.

Maestro Zeligman and his hydrocarbon somersaults

In the early 2010s: observers noticed unusual fluctuations in the distribution of oil supply volumes. Companies cooperating with Concept Oil Services received additional raw material volumes, while supplies to other buyers were reduced.

Such fluctuations are hard to explain by ordinary market competition. In the oil industry, a version emerged that the trader might have access to administrative resources within Russia’s oil transportation system.

And these suspicions were soon confirmed, as Concept Oil Services entered the top ten companies receiving raw materials from Russian producers.

The company long cooperated with giants like Rosneft and Surgutneftegaz.

Maestro Zeligman and his hydrocarbon somersaults

Bashneft, from 2013 to 2016, signed several contracts with Concept Oil Services worth over $3 billion.

For an obscure oil company, such deals looked highly suspicious.

Maestro Zeligman and his hydrocarbon somersaults

www.forbes.ru

But Concept Oil Services bought black gold for resale, which under sanctions caused some difficulties.

However, Mr. Zeligman successfully circumvented these difficulties, and the sanctions of that period were more of a formality. Nevertheless, this experience prepared Mr. Zeligman for the time when sanctions became harsher.

Dulisma against Concept Oil Services

It should be noted that Concept Oil Services was ramping up contracts with Russian producers at cosmic speeds.

And such speed prompted competitors to seek justice in courts.

In particular, in 2017, the oil company "Dulisma" tried to sue Concept Oil Services. And in its claim, it asserted that Concept Oil Services effectively controls the oil procurement market from small producers who export raw materials through the Kozmino port (Far East), a key oil supply terminal to Asia.

Maestro Zeligman and his hydrocarbon somersaults

The arbitration court, to which "Dulisma" applied to restrict Concept Oil Services’ ability to set oil prices and influence trading conditions, did not heed the arguments.

But this story brought up something else: in court, a "Dulisma" representative claimed that Concept Oil Services resold oil to Tenergy Trading in Switzerland. And this firm is linked by media to Russian billionaire Gennady Timchenko.

Attempts to achieve justice were unsuccessful, but they sparked keen interest in both the turbulent activities of Concept Oil Services and the murky personality of Mr. Zeligman.

Maestro Zeligman and his hydrocarbon somersaults

Mikhail Zeligman

As journalists speculated, the owner of Concept Oil Services is closely tied to Transneft’s management.

And behind Zeligman’s company stood people from the entourage of former first vice president of Transneft Mikhail Arustamov.

But Mr. Arustamov had left Transneft by 2012, though he had accomplished much, including obtaining a residence permit in Switzerland in 2013.

And a Cypriot passport.

Maestro Zeligman and his hydrocarbon somersaults

Residence permit in Switzerland

It was at that time that the Concept Oil Services trader gained access to export oil pipelines and terminals.

How the London dandy is dressed

And today, the activities of Zeligman’s company are often associated with trading companies operating in the UAE and the UK.

And from 2020 to 2022, Zeligman held the position of director in the British company Circle Gas Limited.

Maestro Zeligman and his hydrocarbon somersaults

He came to this post in January 2020.

And resigned in November 2022.

The country of residence at that time was Monaco.

Maestro Zeligman and his hydrocarbon somersaults

Principality of Monaco

Maestro Zeligman and his hydrocarbon somersaults

CIRCLE GAS LIMITED — LONDON

Maestro Zeligman and his hydrocarbon somersaults

CIRCLE GAS LIMITED — LONDON

Maestro Zeligman and his hydrocarbon somersaults

CIRCLE GAS LIMITED — LONDON

And in 2002, when Mr. Zeligman was registering his patents with Professor Slavinsky, he was connected to the telecommunications business in the UK. And he worked at Monogram Telecom Limited: but only from June to December 2002.

And Monaco wasn’t even in sight back then?

Maestro Zeligman and his hydrocarbon somersaults

Mikhail ZELIGMAN personal appointments - Find and update company information - GOV.UK

In the end, these documents revealed even Mikhail Zeligman’s home address in Latvia: Riga, Tomsona Street, house 32-34.

Maestro Zeligman and his hydrocarbon somersaults

Riga, Tomsona Street, house 32

This is the Vidzeme suburb, the so-called far center of Riga. A Khrushchevka built in 1967.

But today, Mr. Zeligman lives in Monaco and prefers to conduct his other business very secretly. He invests millions earned on Russian oil into European real estate, mainly in Germany and Austria.

And the profits – as media have already reported – he can withdraw through the charitable foundation Heartbeat mildtätige Privatstiftung (Austria).

Maestro Zeligman and his hydrocarbon somersaults

Principality of Monaco

In the center of Berlin, on the Spree embankment, the German developer Althafen Real Estate built the Pier 61-64 complex with hotel rooms, apartments, and spaces for shops and restaurants.

And in Potsdam, Althafen plans to build RAW Potsdam – a retail-office complex with an area of 50 thousand square meters. But there was a big uproar: the project covered the architectural monument RAW Hall near the city’s main railway station. The media dug up that the investor is an EU citizen, father of three children.

And only in September 2019, the owner of Concept Oil Services, Mikhail Zeligman, gave an interview to the German Tagesspiegel.

And called himself the investor of RAW Potsdam.