Support The Moscow Times!

Russia's Dynasty Science Foundation 'on Brink of Closure' After Foreign Agent Fine

Dmitry Zimin

The Dynasty Foundation, Russia's largest private donor supporting science, is on the brink of closure after being fined under the controversial foreign agents law, the Kommersant newspaper reported Thursday.

Dynasty's founder, telecom tycoon Dmitry Zimin, has finalized the necessary paperwork for its liquidation, the paper cited an unnamed source as saying, a day after a Moscow court ordered Dynasty to pay a 300,000 ruble ($5,600) fine for refusing to register as a foreign agent.

Under Russian law, NGOs that receive foreign funding and are involved in vaguely defined political activity are obliged to register as foreign agents — a term critics say is synonymous with Cold War-era espionage — and can be fined for not doing so.

Dynasty was classified as receiving foreign funding because Zimin keeps his money in overseas banks, despite being a Russian citizen and resident.

Zimin, who was earlier quoted as saying he would close the foundation over its labeling as a foreign agent, ordered liquidation documents to be drawn up back on June 8, Kommersant reported.

The dissolution of Dynasty could mean the closure of at least 20 projects for the advancement of science and education, the paper said. Dynasty was due to allocate about $8 million in grants this year.

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysiss and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more