
Vladimir Stolyarenko bought Valery Kogan's Plaza home
Vladimir Stolyarenko who once chaired one of Russia's largest commercial banks, Evrofinance Mosnarbank, paid $21 million for two units — 1007 and 1009 — at the famed Central Park-facing edifice. The over-the-top lair — with trimmings including 24-karat gold and Venetian plaster — first asked $50 million following Russia's full-scale invasion of Ukraine in 2022.
Listing broker Charlie Attias, of Compass, declined to comment.
Stolyarenko's new dwelling spans 5,302 square feet and features Central Park views. Its foyer spills into a great room with high ceilings and paneled walls — while the main bedroom suite has a bathroom clad in floor-to-ceiling onyx.
12 Valery Kogan.
12 Vladimir Stolyarenko.
12 A view of the expansive layout.
Rich Caplan
At the same time, Stolyaranko and his wife, Alfiya, have listed another unit in the Plaza for $10.49 million. What's more: Their brokers, Jessica and Burt Savitsky, of Brown Harris Stevens, are offering a $7,500 American Express gift card to any broker who brings in a buyer to unit 1503, according to the listing.
The Savitskys also declined to comment.
That unit, as of press time, has been on and off the market for more than 2,000 days. The couple purchased it for $10.37 million back in 2007. They first listed it for $12.8 million in 2008, according to StreetEasy.
Come 2019, Vladimir sold a Plaza unit, No. 1903, to Alfiya for $10 million, according to property records.
12 Touches include 24-karat gold and ornate medallions gracing the ceilings.
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12 The aesthetic extends into the dining room.
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12 There's a separate nook to fit a smaller sitting area.
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12 A hidden bar.
Rich Caplan
The Stolyarenkos are also the owners of a now-dilapidated Palm Beach property that they bought from fashion titan Tommy Hilfiger and Dee Ocleppo for $35 million in 2018 — when Christian Angle, of Christian Angle Real Estate, had the listing.
At that time, the mansion, at 100 Casa Bendita, looked good but needed a renovation, sources told Gimme.
Last summer, the Palm Beach Daily News published shocking photos showing the mansion in extreme disrepair, with construction workers finally on the property to fix water and termite damage, rusted storm shutters, rotted doors and more. The paper has also chronicled neighbors' frustration with the owners of the run-down oceanfront estate, and the flooding on the charming cul-de-sac, allegedly caused by the home's 'backed-up drainage system.'
'There was a bit of a ruckus about it, because they let it deteriorate, and the town forced them to continue with the renovation,' an inside source told Gimme. 'It's been years and it eventually became an eyesore.'
The source added: 'It's been a mystery. The buyer has been unreachable.'
Added another inside source: 'It became horrendous.'
When reached by phone, the Stolyarenkos' lawyer, Glenn S. Krutoff, declined to comment at press time.
12 Elsewhere, a library comes sheathed in wood paneling.
Rich Caplan
12 The space has its own ornate flair.
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12 The master bedroom.
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12 A secondary bedroom.
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12 A powder room also has the regal design scheme.
Rich Caplan
(Hilfiger and Ocleppo also once owned the Plaza's penthouse. They bought it for $22.5 million in 2008, and then tried to flip it for $50 million a few months later. It was on and off the market for the next 11 years — including in 2013, when it asked a staggering $80 million. It ultimately sold for $31.24 million in 2019.)
While many ultra-rich Russians fled New York following Russia's war on Ukraine in 2022, some are itching — and beginning — to return, several sources told Gimme.
'The ones who are returning have lived outside Russia for decades and were often educated in the United States,' a source said.
The Plaza itself has its own unique history. Built in 1907, the French Renaissance-inspired chateau-style building was designed by Henry J. Hardenbergh — the legendary hand behind the Dakota.
In 1986, it was listed as a National Historic Landmark. Two years later, in 1988, now-President Donald Trump bought it for $390 million and put his then-wife, the late Ivanna Trump, in charge — saying he paid her in dresses and $1 a year. He lost the hotel four years later.
It's now owned by the government of Qatar, via Katara Hospitality, which was formerly known as Qatar National Hotels Co.
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American Military News
7 hours ago
- American Military News
Russia's War Economy Is Heading To Recession. It Probably Won't Slow Down The War.
This article was originally published by Radio Free Europe/Radio Liberty and is reprinted with permission. At Russia's annual marquee event for business investment, a Kremlin-funded bubbly celebration of promise and opportunity, the country's top economic minister poured cold war on the party. 'According to the numbers, yes, we've got a cooling down now,' Maksim Reshetnikov said at the St. Petersburg International Economic Forum. 'Based on current business sentiment, it seems to me we are on the brink of transitioning into recession.' If that wasn't enough of a damper, the head of the Russian Central Bank seconded the downbeat sentiment. 'We have been growing for two years at a fairly high rate due to the fact that free labor resources were used,' Elvira Nabiullina said during the same panel discussion on June 19. 'But we need to understand that many of these resources have really been exhausted. We need to think about a new model for growth.' And there was also this from German Gref, the head of the state-owned banking giant Sberbank, on the sidelines of the forum: 'We are colliding with a large number of problems, which today we can call a perfect storm.' For more than 40 months now, since the start of the all-out invasion of Ukraine, Russia's economy has been on a war footing, growing at a robust — at times torrid — rate, and showing resilience — unexpected to many Western experts — in the face of punishing sanctions. People walk past an exchange office screen showing the exchange rates of the U.S. dollar to the Russian ruble in St. Petersburg, Russia, in April ALSO: In Russia's War Economy, The Warning Lights Are Blinking The Kremlin has retooled the economy to power its war, pouring money into defense industries to churn out guns, tanks, drones, and uniforms. It's poured money into wages for defense industry workers and paid soldiers sky-high salaries and benefits to entice them to fight in Ukraine. That's transformed local economies in many of the country's poorer, remote regions, and also bought support for the conflict. But high wages have fueled inflation, and Nabiullina hiked the key interest rate to 21 percent in October to try and tamp it down. Despite public complaints from the country's industrial lobby, she has held firm, committed to slowing inflation and downshifting the economy. It's working, and now Russia is facing the first significant economic slowdown since the start of the full-scale war. 'I think a lot of indicators point to growth stopping, or close to it,' said Iikka Korhonen, head of research at the Bank of Finland's Institute for Emerging Economies. 'Manufacturing is still growing, but most other things are not.' 'For two years [the] Russian economy was overheated and growing at a pace way above its normal growth rate,' said Alexander Kolyandr, an economics expert with the Center for European Policy Analysis in Washington. 'So what's happening now is the economy returns to where it should be. For the moment it stands as a correction, coming back to the long-term growth rate.' 'The main challenge for the government at this point is to make this a soft landing, rather than a complete collapse,' he said. With the Russian war effort now in full flow, millions of Russians have been working in factories, manning around-the-clock shifts. (file photo)SEE ALSO:For Some In Russia's Far-Flung Provinces, Ukraine War Is A Ticket To ProsperityWhat Comes Next? Russia's gross domestic product grew by 1.4 percent in the first three months of the year, compared with the same period in 2024, according to government statistics. In the last six months of 2024, however, the economy was humming along — with average growth of around 4.4 percent. Official estimates now forecast GDP growth at around 2 percent in 2025. The International Monetary Fund predicts even lower growth — 1.5 percent. The unemployment rate stands at a historic low of around 2.3 percent, underscoring how distorted the labor market has become as men are drawn away from civilian jobs to fight in Ukraine. Faced with inflation running at over 10 percent in the first half of 2025, Nabiullina has warned repeatedly about an 'overheated economy.' In early June, she engineered a small rate cut, to 20 percent, which experts called largely symbolic. But the impact of the high interest rate is showing up in official statistics, according to data and forecasts from the Center for Macroeconomic Analysis and Short-Term Forecasting, a government-linked research group. For some in the Kremlin, a soft landing would be a welcome correction to the two torrid previous years. The danger is if it becomes a hard landing. 'By keeping the key rate very high, despite the state continuously pumping money into the economy, they have been able to achieve economic slowdown,' said Maria Snegovaya, a senior fellow in the Russia program at the Washington-based Center for Strategic and International Studies. The Kremlin has sought to avoid any mass mobilization of Russian men to fight in Ukraine. A September 2022 order for a partial mobilization was widely ALSO: More War, Less Money: What A Cut In Signing Bonuses May Reveal About Russia's Fight In Ukraine 'It's unclear how sustainable the situation is for the Kremlin if the economy is actually declining. It's not something that they want either,' she said during an online discussion on June 17. 'In general, the Russian macroeconomic team seems to be quite concerned.' What this means politically is harder to predict. So far, President Vladimir Putin has given Nabiullina and other top economic officials his blessing for their handling of the economy. A day after the panel discussion at the St. Petersburg forum, Putin weighed in himself, with a cautionary note in a speech at the business forum: 'Some specialists, experts, point to the risks of stagnation and even recession,' he said. 'Of course, this should not be allowed under any circumstances.' 'Our most important task this year is to transition the economy to balanced growth,' Putin said. President Vladimir Putin applauds during a plenary session of the St. Petersburg International Economic Forum on June Vladimir Putin applauds during a plenary session of the St. Petersburg International Economic Forum on June 20. With other parts of the economy crimped by sanctions, Kremlin coffers are even more heavily dependent on oil and gas revenues than they have been in the past. But oil prices have fallen since the beginning of the year, and the Finance Ministry has lowered its forecast for oil-linked revenues for 2025. 'Unless we see a decline in oil prices, [or] some significant increase in sanctions enforcement, and an overall decline in civilian production, then I think there will be a soft landing,' Kolyandr said. Balanced — or slower — growth will ripple through the economy, putting a brake on wage growth. It will also crimp household budgets at a time when Russians have been accustomed to fatter wallets, which could fuel discontent. A growing number of companies and factories are also falling behind in wage and salary payments to workers, according to the newspaper Nezavisimaya Gazeta. And a growing number of regions have started cutting recruitment bonuses for new volunteer soldiers — a trend that reflects worsening economic conditions on a local level. Still, Putin seems determined to push forward in the war — even faced with eyewatering casualty rates that are approaching 1 million men killed or wounded. The government plans on spending about 13.1 trillion rubles ($144 billion) on defense- and security-related expenditures in 2025. That's 6.3 percent of its GDP, one of the highest levels since the Soviet era. 'Unfortunately, yes, this war will not stop for economic reasons, and Russia can continue to produce [weaponry] at the current level for quite a while,' Korhonen said. 'The only economic factor that could really hamper Russia's war effort is the price of oil.'

9 hours ago
Brazil hosts BRICS summit, eager to avoid provoking Trump's ire
RIO DE JANEIRO -- Brazil will play host to a summit of the BRICS bloc of developing economies Sunday and Monday during which pressing topics like Israel's attack on Iran, the humanitarian crisis in Gaza and trade tariffs imposed by U.S. President Donald Trump are expected to be handled with caution. Analysts and diplomats said the lack of cohesion in an enlarged BRICS, which doubled in size last year, may affect its ability to become another pole in world affairs. They also see the summit's moderate agenda as an attempt by member countries to stay off Trump's radar. Brazilian President Luiz Inácio Lula da Silva will have some of his priorities, such as debates on artificial intelligence and climate change, front and center for the talks with key leaders not in attendance. China's President Xi Jinping won't attend a BRICS summit for the first time since he became his country's leader in 2012. Russian President Vladimir Putin, who will make an appearance via videoconference, continues to mostly avoid traveling abroad due to an international arrest warrant issued after Russia invaded Ukraine. The restraint expected in Rio de Janeiro marks a departure from last year's summit hosted by Russia in Kazan, when the Kremlin sought to develop alternatives to U.S.-dominated payment systems which would allow it to dodge Western sanctions imposed after Russia's full-scale invasion of Ukraine in February 2022. A source involved in the negotiations told journalists Friday that some members of the group want more aggressive language on the situation in Gaza and Israel's attack on Iran. The source spoke under the condition of anonymity because they were not authorized to speak about the matter publicly. 'Brazil wants to keep the summit as technical as possible,' said Oliver Stuenkel, a professor at the Getulio Vargas Foundation think tank and university. Consequently, observers expect a vague final declaration regarding Russia's war in Ukraine and conflicts in the Middle East. As well as suiting Brazil, a watered-down and non-controversial statement may be made easier by the absences of Putin and Xi, Stuenkel said. Those two countries have pushed for a stronger anti-Western stance, as opposed to Brazil and India that prefer non-alignment. A Brazilian government official told The Associated Press Thursday that the group is expected to produce three joint statements and a final declaration, 'all of which less bounded by current geopolitical tensions.' The official spoke on condition of anonymity because they were not authorized to speak publicly about the summit's preparations. João Alfredo Nyegray, an international business and geopolitics professor at the Pontifical Catholic University in Parana, said the summit could have played a role in showing an alternative to an unstable world, but won't do so. 'The withdrawal of Egypt's President Abdel Fattah al-Sisi and the uncertainty about the level of representation for countries like Iran, Saudi Arabia and the UAE are confirming the difficulty for the BRICS to establish themselves as a cohesive pole of global leadership,' Nyegray said. 'This moment demands high level articulation, but we are actually seeing dispersion.' Brazil, the country that chairs the bloc, has picked six strategic priorities for the summit: global cooperation in healthcare; trade, investment and finance; climate change; governance for artificial intelligence; peace-making and security; and institutional development. It has decided to focus on less controversial issues, such as promoting trade relations between members and global health, after Trump returned to the White House, said Ana Garcia, a professor at the Rio de Janeiro Federal Rural University. 'Brazil wants the least amount of damage possible and to avoid drawing the attention of the Trump administration to prevent any type of risk to the Brazilian economy,' Garcia said. While Brazil will continue to advocate for the reform of Western-led global institutions, a cornerstone policy of the group, the country wants to avoid becoming the target of tariffs — a predicament it has so far largely escaped. Trump has threatened to impose 100% tariffs against the bloc if they take any moves to undermine the dollar. Iranian President Masoud Pezeshkian and Egypt's Abdel-Fattah el-Sissi will also be absent. Those two countries joined the BRICS in 2024, alongside Ethiopia, Indonesia and the United Arab Emirates. Saudi Arabia has been invited and is participating in member discussions, but it has yet to send its confirmation letter. As well as new members, the bloc has 10 strategic partner countries, a category created at last year's summit that includes Belarus, Cuba and Vietnam. That rapid expansion led Brazil to put housekeeping issues — officially termed institutional development — on the agenda to better integrate new members and boost internal cohesion. Despite notable absences, the summit is important for attendees, especially in the context of instability provoked by Trump's tariff wars, said Bruce Scheidl, a researcher at the University of Sao Paulo's BRICS study group. 'The summit offers the best opportunity for emerging countries to respond, in the sense of seeking alternatives and diversifying their economic partnerships,' Scheidl said. For Lula, the summit will be a welcome pause from a difficult domestic scenario, marked by a drop in popularity and conflict with Congress.


Hamilton Spectator
11 hours ago
- Hamilton Spectator
Brazil hosts BRICS summit, eager to avoid provoking Trump's ire
RIO DE JANEIRO (AP) — Brazil will play host to a summit of the BRICS bloc of developing economies Sunday and Monday during which pressing topics like Israel's attack on Iran, the humanitarian crisis in Gaza and trade tariffs imposed by U.S. President Donald Trump are expected to be handled with caution. Analysts and diplomats said the lack of cohesion in an enlarged BRICS, which doubled in size last year, may affect its ability to become another pole in world affairs. They also see the summit's moderate agenda as an attempt by member countries to stay off Trump's radar. Brazilian President Luiz Inácio Lula da Silva will have some of his priorities, such as debates on artificial intelligence and climate change, front and center for the talks with key leaders not in attendance. China's President Xi Jinping won't attend a BRICS summit for the first time since he became his country's leader in 2012. Russian President Vladimir Putin, who will make an appearance via videoconference, continues to mostly avoid traveling abroad due to an international arrest warrant issued after Russia invaded Ukraine. Debate over language on hot-button topics The restraint expected in Rio de Janeiro marks a departure from last year's summit hosted by Russia in Kazan, when the Kremlin sought to develop alternatives to U.S.-dominated payment systems which would allow it to dodge Western sanctions imposed after Russia's full-scale invasion of Ukraine in February 2022. A source involved in the negotiations told journalists Friday that some members of the group want more aggressive language on the situation in Gaza and Israel's attack on Iran. The source spoke under the condition of anonymity because they were not authorized to speak about the matter publicly. 'Brazil wants to keep the summit as technical as possible,' said Oliver Stuenkel, a professor at the Getulio Vargas Foundation think tank and university. Consequently, observers expect a vague final declaration regarding Russia's war in Ukraine and conflicts in the Middle East. As well as suiting Brazil, a watered-down and non-controversial statement may be made easier by the absences of Putin and Xi, Stuenkel said. Those two countries have pushed for a stronger anti-Western stance, as opposed to Brazil and India that prefer non-alignment. A Brazilian government official told The Associated Press Thursday that the group is expected to produce three joint statements and a final declaration, 'all of which less bounded by current geopolitical tensions.' The official spoke on condition of anonymity because they were not authorized to speak publicly about the summit's preparations. João Alfredo Nyegray, an international business and geopolitics professor at the Pontifical Catholic University in Parana, said the summit could have played a role in showing an alternative to an unstable world, but won't do so. 'The withdrawal of Egypt's President Abdel Fattah al-Sisi and the uncertainty about the level of representation for countries like Iran, Saudi Arabia and the UAE are confirming the difficulty for the BRICS to establish themselves as a cohesive pole of global leadership,' Nyegray said. 'This moment demands high level articulation, but we are actually seeing dispersion.' Brazil skittish in light of Trump tariffs Brazil, the country that chairs the bloc, has picked six strategic priorities for the summit: global cooperation in healthcare; trade, investment and finance; climate change; governance for artificial intelligence; peace-making and security; and institutional development. It has decided to focus on less controversial issues, such as promoting trade relations between members and global health, after Trump returned to the White House, said Ana Garcia, a professor at the Rio de Janeiro Federal Rural University. 'Brazil wants the least amount of damage possible and to avoid drawing the attention of the Trump administration to prevent any type of risk to the Brazilian economy,' Garcia said. While Brazil will continue to advocate for the reform of Western-led global institutions, a cornerstone policy of the group, the country wants to avoid becoming the target of tariffs — a predicament it has so far largely escaped. Trump has threatened to impose 100% tariffs against the bloc if they take any moves to undermine the dollar. Other leaders shun the summit Iranian President Masoud Pezeshkian and Egypt's Abdel-Fattah el-Sissi will also be absent. Those two countries joined the BRICS in 2024, alongside Ethiopia, Indonesia and the United Arab Emirates. Saudi Arabia has been invited and is participating in member discussions, but it has yet to send its confirmation letter. As well as new members, the bloc has 10 strategic partner countries, a category created at last year's summit that includes Belarus, Cuba and Vietnam. That rapid expansion led Brazil to put housekeeping issues — officially termed institutional development — on the agenda to better integrate new members and boost internal cohesion. Despite notable absences, the summit is important for attendees, especially in the context of instability provoked by Trump's tariff wars, said Bruce Scheidl, a researcher at the University of Sao Paulo's BRICS study group. 'The summit offers the best opportunity for emerging countries to respond, in the sense of seeking alternatives and diversifying their economic partnerships,' Scheidl said. For Lula, the summit will be a welcome pause from a difficult domestic scenario, marked by a drop in popularity and conflict with Congress . The meeting also represents an opportunity to advance climate negotiations and commitments on protecting the environment before November's COP 30 climate talks in the Amazonian city of Belem . Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .