The Ministry of Energy has for the first time proposed applying a presidential decree on the protection of “critical infrastructure facilities” and introducing external management of the “Trassa” gas station network, RBC reports.
The network is operated by EuroTrans, which ranks second in terms of sales volume among independent fuel operators in Moscow and the Moscow region. The company’s management and principal owners are currently under arrest in a fuel-theft case being investigated by the Interior Ministry.
In 2023, EuroTrans carried out an initial public offering of shares on the Moscow Exchange, becoming one of the few companies that decided to launch an IPO during the war. At the time, the business raised 13.5 billion rubles, and its market capitalization was 40 billion rubles.
However, the company accumulated debts of 36 billion rubles, and technical defaults on its bonds began in the spring of 2026. By early September, they had grown into a full default across all 10 bond issues. Bankruptcy now looks almost inevitable, and shareholders risk losing all the funds they invested.
The final blow to the company was a criminal case of fuel theft opened by the Interior Ministry, which was then allegedly carried out through the “Trassa” gas station network. According to RBC, from March to September about 6 thousand tons of gasoline and 600 tons of diesel fuel were stolen—an amount comparable to a couple of hundred tanker trucks.
The case was opened under the article on theft on an especially large scale (Part 4 of Article 160 of the Criminal Code of the Russian Federation). The main shareholder of EuroTrans, Igor Martyshov, and three of his subordinates were detained, as well as Sergey Malkov, the deputy head for rear affairs of the Main Directorate of the Interior Ministry for the Moscow region, and two of his subordinates. The investigation assessed the damage caused at 100 million rubles.
The network is operated by EuroTrans, which ranks second in terms of sales volume among independent fuel operators in Moscow and the Moscow region. The company’s management and principal owners are currently under arrest in a fuel-theft case being investigated by the Interior Ministry.
In 2023, EuroTrans carried out an initial public offering of shares on the Moscow Exchange, becoming one of the few companies that decided to launch an IPO during the war. At the time, the business raised 13.5 billion rubles, and its market capitalization was 40 billion rubles.
However, the company accumulated debts of 36 billion rubles, and technical defaults on its bonds began in the spring of 2026. By early September, they had grown into a full default across all 10 bond issues. Bankruptcy now looks almost inevitable, and shareholders risk losing all the funds they invested.
The final blow to the company was a criminal case of fuel theft opened by the Interior Ministry, which was then allegedly carried out through the “Trassa” gas station network. According to RBC, from March to September about 6 thousand tons of gasoline and 600 tons of diesel fuel were stolen—an amount comparable to a couple of hundred tanker trucks.
The case was opened under the article on theft on an especially large scale (Part 4 of Article 160 of the Criminal Code of the Russian Federation). The main shareholder of EuroTrans, Igor Martyshov, and three of his subordinates were detained, as well as Sergey Malkov, the deputy head for rear affairs of the Main Directorate of the Interior Ministry for the Moscow region, and two of his subordinates. The investigation assessed the damage caused at 100 million rubles.