Europe is off-limits to much of Russia’s elite. Now sanctioned oligarchs, government officials, and hackers are spending millions at a luxury ski resort in the Altai Mountains.

Sberbank’s Manzherok resort in Russia’s Altai Mountains has become a luxury retreat for wealthy Russians who face sanctions or have ties to government and security services. An investigation based on the resort’s internal documents found that guests include officials, Forbes-listed businesspeople, hackers and people linked to the Federal Security Service, highlighting how a high-end domestic destination is filling a gap left by restricted access to Europe.

The resort offers guarded villas, personal security, cars, butlers and goods described as sanctioned. Sberbank took over the unfinished project in 2011, then invested in its expansion after CEO Herman Gref said Manzherok could replace European resorts such as Courchevel. Local reporting says residents’ land was bought under pressure to make way for development; meanwhile, the resort spent nearly 440 million roubles on a four-day entertainment programme for a 2025 conference attended by officials from eight countries.