The Khodorkovsky Foundation, after being declared undesirable, stopped helping Russian students

London-based The Khodorkovsky Foundation has published financial statements for 2021.

RT studied the data provided in the register of legal entities in the UK.

According to the report, the fund's grant activity has decreased from $13.85 million in 2020 to $5 million in 2021.

These are the funds that the fund managed to transfer to students and educational institutions until July last year.

On July 9, 2021, the Ministry of Justice declared the organization undesirable on the territory of the Russian Federation.

“Due to the fact that the Russian government recognized the fund as an “undesirable organization”, the trustees were forced to stop its activities in Russia for an indefinite period and consider other ways to achieve its goals,” says the report, signed by the trustee of the fund Alistair Tulloch.

The annual income of the fund was formed from the investment of the endowment (base fund) in the amount of $500 million. Over the past year, income from investment activities has decreased.

In 2020, they amounted to $4.24 million. In 2021, they amounted to $3.89 million.

Against the backdrop of declining financial performance, managerial changes also took place: on May 16, 2022, the fund was headed by the son of an oligarch, Pavel Khodorkovsky, a US citizen.

RT learned about the change of director from the register of legal entities in the UK.

Since its founding (in 2005) until 2021, the foundation and its subsidiary Oxford Russia Foundation have supported more than 30,000 Russian students and their projects, the report says.

From the funds of the fund, they were paid increased scholarships, were given grants for projects, and were helped to pay for their studies at foreign universities.

Russian experts previously pointed out that grants and scholarships were issued mainly to students in political science and law, and made a connection between the number of grants issued and a surge in opposition activity among students in the regions of the Russian Federation.

* Recognized as undesirable on the territory of the Russian Federation by the decision of the Ministry of Justice of the Russian Federation of 07/09/2021.