Business · Companies · 4 hrs ago
Luxury Altai ski resort draws Russia’s sanctioned elite
Sberbank opened the Manzherok ski resort in Russia’s Altai region in 2025 after years of investment in the site.
Internal records show sanctioned businesspeople, officials and people linked to Russian security services among its guests.
Guests at the resort’s guarded villas receive personal security, a car and a butler.
The resort also provides goods described as sanctioned, though the details are not specified.
Manzherok was meant to become a luxury alternative to European ski resorts, which many wealthy Russians can no longer visit.
Local residents’ homes were bought up to make way for the resort, according to accounts cited in the story.
The resort has also hosted government delegations and an international environmental conference, but no agreements or declarations were identified from that gathering.
Sberbank’s luxury Manzherok ski resort in Russia’s Altai region has hosted officials, businessmen, hackers and people linked to the Federal Security Service, Meduza reported after reviewing internal documents.
The resort offers wealthy guests guarded villas, personal security, a car and a butler, as well as goods described as “sanctioned goods.”
Sberbank opened the resort in 2025 after investing in the site, which it had taken over in 2011.
CEO Herman Gref said he wanted Manzherok to become a luxury destination as Europe was closed to many Russians.
Local residents were displaced as land was acquired for the resort, according to the article.
- Who
- Wealthy Russian guests, including officials, businessmen, hackers and people linked to the Federal Security Service.
- What
- Manzherok, a luxury ski resort, is drawing members of Russia’s sanctioned elite.
- When
- The resort opened in 2025. The article was published on November 9, 2026.
- Where
- The Altai region of Russia, near Mount Sinyukha.
- Why
- Sberbank developed the resort as a luxury destination, with CEO Herman Gref saying it could replace European resorts for Russians.
Local residents
Sberbank and the resort
Land acquisition
Local residents
Residents’ homes and land were bought or seized, and residents were displaced, according to the article.
Sberbank and the resort
Sberbank developed the resort as an investment project and sought to make Manzherok a leading luxury destination.
Access and disruption
Local residents
Residents objected to road closures for officials’ motorcades and criticized officials in comments reported by Meduza.
Sberbank and the resort
Authorities said a three-day closure of the main road was needed to allow government delegations to travel without obstruction.
Sberbank took over an unfinished ski resort described by experts as problematic and illiquid.
Gref said Manzherok could replace Courchevel while Europe was closed off.
Altai traffic police announced a three-day closure of the Chuysky Trakt for motorcades carrying Prime Minister Mikhail Mishustin and other government delegations.
Sberbank opened Manzherok as a ski resort in the Altai region.
- Resort
- Manzherok
- Owner
- Sberbank, a Russian state bank
- Villas
- 13 guarded villas
- Opening
- 2025
- Location
- Altai region, near Mount Sinyukha
- Conference program spending
- Nearly 440 million rubles for a four-day cultural and entertainment program
What people are saying
While Europe is closed off, we’ll replace the word ‘Courchevel’ with ‘Manzherok.’ Everyone will come to us
They’re not servants of the people. They’re quite the opposite: enemies!
Don’t worry 😊