Reliance Industries, one of the largest buyers of Russian oil, became a partner of the “Alina” rhythmic gymnastics festival, which Alina Kabaeva’s foundation held on October 29 in Mumbai. According to The Moscow Times, the costs of the event were also covered by Kabaeva’s foundation, and 160 gymnasts and performers took part in the festival.
According to The Moscow Times, citing Channel Five, Reliance Industries, one of the largest buyers of Russian oil, became a partner of the “Alina” rhythmic gymnastics festival. Alina Kabaeva’s foundation held the event on October 29 in Mumbai, and the invitation to the organizers came from the company and Nita Ambani, Mukesh Ambani’s wife.
The Grand Theater of the Nita Mukesh Ambani Cultural Centre was provided for the festival. According to the report, Kabaeva’s foundation also covered the event’s expenses.
The program featured 160 gymnasts and performers, including the Bolshoi Theatre orchestra conducted by Valery Gergiev and world and European rhythmic gymnastics champion Lala Kramarenko. The students of Kabaeva’s school, “Sky Grace”, flew in from Japan, where they had performed at the club world championship.
The Washington Post wrote that from February 2022 to August 2025, Reliance purchased Russian oil worth $33 billion. In 2021, the volume of purchases was $85 million; in 2022, it rose to $5.5 billion, and in 2023 it reached $11.7 billion.
Financial Times estimated the company’s additional profit from such purchases at no less than $6 billion since 2022. Forbes estimated Mukesh Ambani’s fortune at $84.5 billion in 2021 and at $92.5 billion by 2025, while in February the FBK claimed that Kabaeva’s foundations are used to finance her expenses with funds from the president’s inner circle.
According to this investigation, Kabaeva’s foundation and “Sky Grace” received 6.5 billion rubles from the company “Investment Solutions”. According to the FBK, this company participated in the construction of “Putin’s palace” in Gelendzhik.
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