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Top ally announces closure of Navalny’s offices amid crackdown

A top ally of imprisoned Russian opposition leader Alexei Navalny said Thursday that the network of the politician’s offices in Russia is being closed as authorities seek to have it and Navalny’s Foundation for Fighting Corruption outlawed as extremist groups.
The Moscow prosecutor’s office petitioned a court this month to declare both the regional offices and Navalny’s anti-corruption organization as extremist groups, a label that would outlaw their activities, expose members and supporters to lengthy prison terms, and pose a major challenge for Navalny’s embattled team.
Leonid Volkov, who as Navalny’s top strategist runs the regional offices, said Thursday that preserving the network in its current state “is impossible” because of the extremism charges but rebranding them wouldn’t help either.
“Unfortunately, it is impossible to work in these conditions. We’re officially dismantling the network of Navalny’s headquarters,” Volkov said on the messaging app Telegram.
Volkov’s statement comes amid a sweeping crackdown on Navalny, President Vladimir Putin’s fiercest critic, and his organizations. The politician is currently in prison, and dozens of his aides and associates have been under arrest, targeted for raids by law enforcement, or facing criminal charges.
Earlier this week, the prosecutor’s office issued an injunction ordering the offices to suspend their activities pending the court ruling, and a court in Moscow imposed restrictions on the Foundation for Fighting Corruption.
The foundation’s director, Ivan Zhdanov, said the organization will continue to work despite the restrictions.
Navalny set up a network of offices in dozens of regions when he was campaigning to run against Putin in the 2018 presidential election. He eventually was barred from running but kept the infrastructure in place.
The regional “headquarters,” as the team called them, began their own investigations of graft by local officials and recruited activists, some of whom later ran for public office themselves. The offices also were instrumental in organizing nationwide rallies in support of Navalny this year.
In his statement, Volkov assured supporters that Navalny’s team wasn’t giving up.
“The networks of Navalny’s headquarters doesn’t exist anymore, but there are dozens of strong and tough regional politicians, thousands of his supporters, there are strong and independent political organizations which will work on investigations and elections, public campaigns and rallies. You will help them, and they will succeed,” Volkov said.
Navalny was arrested in January upon returning from Germany, where he spent five months recovering from a nerve agent poisoning that he blames on the Kremlin — accusations that Russian officials reject.
His arrest triggered protests across Russia that proved to be the biggest show of defiance in years. But they didn’t stop authorities from putting Navalny on trial for violating the terms of a suspended sentence while he was in Germany.
The sentence stemmed from a 2014 embezzlement conviction that Navalny has characterized as politically motivated. He was ordered to serve 2 and a half years in prison and last month was transferred to a penal colony notorious for its harsh conditions.
Some of his top allies were slapped with criminal charges and placed under house arrest, and dozens of his associates in the regions were targeted with detentions and raids.
source: The Associated Press
Image source: Reuters
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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