French Theme Park Firm’s Ties to Russian Oligarch Resurface Amid £600m UK Project
New documents show that Puy du Fou kept working with sanctioned Russian businessman Konstantin Malofeyev well after EU sanctions were imposed, before shifting focus to a £600 million park in Oxfordshire.
Investigations uncovered that Puy du Fou maintained a partnership with Russian media magnate Konstantin Malofeyev after the EU placed him under sanctions in July 2014. A term sheet signed on 12 July created a 50-50 venture called Puy du Fou Tsargrad, with plans for parks in occupied Ukrainian territory and a name echoing Malofeyev’s own media brand. Internal documents detail a restructuring effort that would route funds through a Russian LLC and an offshore company to avoid sanctions, with payments continuing into 2015 via Malofeyev’s associate Marshall Capital.
Sanctions specialist Michael Ruck warned such activity could violate restrictions unless a specific licence was obtained, which the company has not confirmed. After the Russian project fell apart, Puy du Fou explored deals in Iran and allowed Chinese authorities to approve scripts for a Shanghai show, before turning to a £600 million historical theme park in Oxfordshire, slated for a 2029 opening. The revelations raise questions about the firm’s compliance with international sanctions and its willingness to work with autocratic regimes.
Why it matters
The story highlights possible sanctions breaches by a major French company and its links to authoritarian markets.
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