Russian firm tied to the country's military manufacturer found active in Vilnius, according to media reports.
In the heart of Vilnius, Lithuania, I-Photonics, a company specialising in vacuum coating technology, finds itself under the spotlight. The company, formerly known as Izovac Photonics, has been supplying nearly 200 million dollars worth of products to Russia's military industry since the onset of the war in Ukraine. However, I-Photonics' representatives vehemently deny any ongoing ties with Izovac.
The Financial Crime Investigation Service has expressed reservations about I-Photonics' claims, questioning whether a complete severance of ties indeed took place in 2022. This doubt stems from a 1.2 million euro loan transferred by Moscow-based Izovac Engineering on the first day of the war in Ukraine, a transaction that was later frozen.
I-Photonics' technology is utilised in various military equipment, including microchip components, night vision devices, and drones. The company's CEO, Vitali Khomich, has maintained that I-Photonics has no ties to the Belarusian group since the war's beginning.
Khomich moved to Lithuania in 2021, before the ties were reportedly cut. The Migration Department, while reviewing residence permit requests from Belarusian businessmen previously closely linked to Izovac, flagged the 2022 loan from Russia as a possible link to sanctioned individuals. The State Security Department, however, concluded that the foreign nationals posed no threat to national security, and the residence permits were granted.
Despite the lack of specific information regarding I-Photonics' direct ties with Russia's military industry or sanctions evasion, the company's origins and associations offer some context. I-Photonics is a rebranded version of Izovac Photonics, which may still be associated with a Belarusian holding, implying some level of connection or influence from Belarusian interests.
Belarusian companies have been known to have significant ties with Russia, given the close economic and political relationship between the two countries. This includes various sectors, such as technology and manufacturing, which could potentially involve military-related activities. There have been instances where companies linked to Belarus and Russia have been accused of evading sanctions, given the geopolitical tensions.
For more detailed updates or specific information regarding I-Photonics' activities, it would be necessary to consult more recent or specialized sources focusing on international trade and sanctions compliance. In 2022, Izovac Photonics changed its name to I-Photonics after authorities froze 1.2 million euros in the company's funds. Prior to moving to Lithuania, Khomich was responsible for expanding Izovac's business in Western markets. I-Photonics' shareholders, Yevgeny Shiripov, Andrey Levchuk, and Yevgeny Khokhlov, are the sons of three Izovac co-founders. I-Photonics reported 5 million euros in revenue and nearly 700,000 euros in profit in 2023. The company was established in 2021 as a subsidiary of the Belarusian company Izovac. According to the Belarusian Research Center, Khomich and I-Photonics' shareholders worked at Belarus' Izovac until the end of 2024.
In light of the loan transferred by Moscow-based Izovac Engineering and the significant ties between Belarusian companies and Russia, questions have arisen about the involvement of I-Photonics in politics, finance, and general news regarding international sanctions. Despite I-Photonics' denials of ties with Izovac, the company's past associations and the transfer of the 1.2 million euro loan have raised concerns about potential ongoing links with the Russian military industry.
