Nikolai was a co-founder with Putin and others of a development of dachas known as The Ozero (Lake) Cooperative, about 100 km (60 miles) north of St. Petersburg. Various members of the Ozero development went on to prominence in Putin’s Russia. Nikolai Shamalov became a shareholder in a small lender called Bank Rossiya, which over the past 15 years has grown to be one of Russia’s most influential banks. Kovalchuk, the co-owner of the Igora ski resort, is the largest Bank Rossiya shareholder. After Russia seized control of Crimea in 2014, the United States sanctioned Bank Rossiya, describing it as the personal bank of the Russian elite. The European Union sanctioned Kovalchuk and Nikolai Shamalov for their close links to Putin. The U.S. Treasury also sanctioned Kovalchuk as a member of Putin’s inner circle. Nikolai Shamalov has two sons: Yury, born in 1970, and Kirill, born in 1982. Both have prospered during the Putin years.
| Types | Person, Business Person |
| Gender | Male |