Bulgarian court approves extradition of Russian financier to the United States

A Bulgarian court has approved the extradition of a Russian financier to the United States, where he is wanted in connection with alleged sanctions evasion and money laundering. In February 2025, a federal grand jury in Florida handed down in indictment against 52-year-old Sergey Ivin, who was detained at Sofia Airport in October 2025.

According to the indictment, Ivin participated in a scheme involving a network of companies controlled by pro-Russian Ukrainian oligarch Sergey Kurchenko. The alleged transactions involved metallurgical products worth up to USD 350 million. False documents were reportedly used to hide the link to Kurchenko and the origin of the goods from the eastern Ukrainian region of Donbas, occupied by Russian forces. The alleged offenses took place between 2017 and 2021 in violation of sanctions imposed after Russia’s annexation of Crimea in 2014.

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

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

Edited by Ivo Ivanov

Translated by Kostadin Atanasov