Bulgarian court approves extradition of Russian financier

A Bulgarian court has approved the extradition of a Russian financier to the United States, where he is wanted on charges of sanctions evasion and money laundering.

In February 2025, a federal grand jury in Florida handed down an indictment against 52-year-old Sergey Ivin. He was detained at Sofia Airport in October 2025 at the request of US authorities, Caliber.Az reports, citing Bulgarian media.

According to the indictment, Ivin allegedly took part in a scheme involving a network of companies controlled by pro-Russian Ukrainian oligarch Sergey Kurchenko. The transactions in question reportedly involved metallurgical products worth up to $350 million. Investigators allege that false documentation was used to conceal both Kurchenko’s involvement and the origin of the goods from the eastern Ukrainian region of Donbas, which is occupied by Russian forces.

Prosecutors say the alleged offenses occurred between 2017 and 2021 and violated sanctions imposed following Russia’s annexation of Crimea in 2014.

Speaking in court, Ivin denied all charges and said he had never been involved in money laundering. He also expressed concern that his rights would not be guaranteed if he were extradited to the United States. A representative of the consular section of the Russian Embassy in Sofia attended the hearing.

Bulgarian authorities are also reviewing the case of another Russian national, 54-year-old Oleg Olshansky, who faces charges in the same investigation. He is appealing a lower court decision that approved his extradition to the United States, the Bulgarian media reported.

By Vafa Guliyeva