Donald Trump and his family have historically pursued numerous business opportunities in Russia, although they never successfully completed a major real estate development project there
. While no current, direct, ongoing business projects inRussia by the Trump Organization have been confirmed, the family and the organization have had various indirect financial entanglements and have received substantial investment from Russian individuals and entities over the years.
Key aspects of these ties include:
Unsuccessful Development Deals
Donald Trump repeatedly attempted to build a Trump Tower in Moscow, with efforts spanning decades from 1987 until at least June 2016, during his presidential campaign. These efforts involved several individuals who later became key figures in investigations into Russian interference in the 2016 U.S. election, including his former personal lawyer Michael Cohen and Russian-born businessman Felix Sater.
Russian Investment in Trump Properties
While projects within Russia never materialized, individual Russians have invested heavily in various Trump-branded properties in the United States and elsewhere.
- Property Sales: Trump sold his Palm Beach, Florida, estate, Maison de L'Amitie, to Russian oligarch Dmitry Rybolovlev for a significant profit ($95 million) in 2008.
- Condo Sales: Investigations found that a disproportionate cross-section of buyers in Trump-branded luxury towers in Southern Florida and the Trump SoHo project were individuals with Russian passports or addresses, often using anonymous shell companies.
- Financing Sources: In the 1990s, following his corporate bankruptcies, Trump reportedly borrowed money from alternative sources, including those with Russian ties, as many American banks were hesitant to lend to him.
Family Members and Associates
- Donald Trump Jr. and Eric Trump: Both sons traveled to Russia multiple times around 2008 seeking business deals and were quoted acknowledging that a significant amount of money in their assets came from Russia. Michael Cohen testified that he briefed Trump family members, including Donald Jr. and Ivanka Trump, on the status of the proposed Trump Tower Moscow project during the 2016 campaign.
- Jared Kushner: Trump's son-in-law and former senior advisor met with Sergey Gorkov, the head of Russia's sanctioned state-owned development bank, Vnesheconombank (VEB), during the presidential transition.
- Cabinet Members/Advisors: Several individuals associated with the Trump administration or campaign had significant business dealings with Russian entities, including former Secretary of Commerce Wilbur Ross (via a shipping company with ties to a Russian gas company part-owned by Vladimir Putin's son-in-law) and former campaign chairman Paul Manafort.
Donald Trump has consistently stated he has no financial connections to Russia and has received no income from Russian sources, with the exception of income from the 2013 Miss Universe pageant in Moscow, hotel room rentals, or sales of branded products like ties. However, the special counsel investigation led by Robert Mueller scrutinized these dealings, which resulted in charges against Michael Cohen for lying to Congress about the extent of the Moscow project discussions
