Leaked documents don reveal one money trail wey link oligarch Roman Abramovich to two men wey dem call "wallets" for President Vladimir Putin.

Di former Chelsea Football Club owner chop sanction from UK and EU but im previously deny any financial relationship wit di Russian leader.

Now, leaked documents from Cyprus don reveal new evidence wey link am to a secret $40m (£26m) deal for 2010.

Oga Abramovich no respond to requests for comment from BBC.

Di secret deal transfer shares for one highly profitable Russian advertising company, Video International - for less dan di original worth - from companies wey dey owned by one trust wey dey connected wit Oga Abramovich, to two members of Putin' inner circle. In turn dem receive millions of dollars for dividends.

BBC Newsnight, BBC Verify and Panorama partner wit di Bureau of Investigative Journalism to uncover di revelations as part of Cyprus Confidential - one global investigation wey reporters do for di International Consortium of Investigative Journalists and Paper Trail Media.

Di confidential records reveal say one of di men wey dey involved for di secret deal na Sergei Roldugin, a close friend of Russian president.

A cellist, Oga Roldugin na di artistic director of St Petersburg Music House. Im don know Vladimir Putin since be young men for St Petersburg, and tori be say na im introduce am to Lyudmila Shkrebneva, wey di future president marry for 1983 (dem don divorce now). Oga Roldugin na di godfather of dia first daughter, Maria.

Di second man na anoda close associate of President Putin - Alexander Plekhov, one biochemist-wey turn-businessman, also from St Petersburg.

Oga Roldugin and Oga Plekhov both dey accused of being "wallets" for President Putin – dem dey secretly hold money and assets on im behalf.

Earlier dis year, Swiss prosecutors allege say dem be "straw men", and no be real owners of assets for bank accounts set up in connection wit di Video International deal.

Di court no identify anyone as di true ultimate beneficial owner of di accounts.

President Putin stated salary for 2021 na just ova $100,000 (£72,700). But, di rumours be say im fortune fit dey worth anywia between $125bn (£102bn) and $200bn (£164bn), wey dey hide somewia wit network of shell companies and di accounts of friends.

Oga Plekhov chop sanction from UK goment, and Oga Roldugin also chop sanction from UK, di EU and US, wey describe am as a "custodian of President Putin' offshore wealth".

Di Cyprus connection

Di Cyprus Confidential investigation dey based on 3.6 million confidential corporate records from companies wey dey provide offshore services for Cyprus, and e focus on dia close financial relationship wit Russia and di oligarchs wey don chop sanction, many of dem use di island to manage dia secret offshore holdings.

Dem include documents from one corporate service provider for Cyprus wey dem call MeritServus, di originally documents na di whistleblowing group Distributed Denial of Secrets collect am.

MeritServus sef chop sanction from UK earlier dis year, afta internal documents reveal say e breach sanctions on behalf of one of dia Russian clients.

MeritServus also work wit Oga Abramovich companies for Cyprus. Di oligarch wealth total dey more dan $9bn (£7.3bn) and im don make plenty public investments for sports, arts and high-value properties.

Im become one of di best-known and influential Russian oligarchs for UK afta im buy Chelsea FC for London for 2003.

E downplay im relationship wit President Putin, and challenge suggestions of close financial relationship or say im bin dey act on behalf of di Russian leader.

For 2010, one tok-tok pesin for Oga Abramovich say im "no get financial relationship of any kind wit [then] Prime Minister Putin".

And for 2021 im sue journalist Catherine Belton sake of one passage for her book, Putin's People, wey refer to evidence wey allege say im bin buy Chelsea FC for 2003 on behalf of President Putin.

Di case dem settle out of court wit agreement by di publisher "to record di position correctly" and add " more detailed explanation of Oga Abramovich motivations".

Di UK and EU place Oga Abramovich under sanctions for March 2022 sake of Russia invasion of Ukraine.

Di EU say: "Im get privileged access to di president, and im maintain very good relations wit am. Dis connection wit di Russian leader help am to maintain im wealth."

Oga Abramovich challenge di EU sanctions for court early dis year. Im lawyer claim say di restrictions happun sake of di Russian businessman "celebrity" rather dan "based on evidence".

But di secret deal wit Oga Roldugin and Oga Plekhov suggests close financial relationship between Oga Abramovich and President Putin.

"Dis case obviously puts more information on top table and further endorse di alleged connection between Putin and Abramovich in a way wey don dey vey difficult to deflect," na so Tom Keatinge tok, director of di Centre for Financial Crime and Security Studies for di defence think tank RUSI.

Di deal

One complex web of companies for Cyprus and di British Virgin Islands, and one trust, na im cover di football tycoon involvement for di transaction - until now.

Leaked documents reveal say di former Chelsea boss relationship wit two companies buy a combined 25% stake in Video International for 2003.

Di two companies - Finoto Holdings and Grosora Holdings – dem create dem for early 2003. Both ultimately dey owned, through a series of shell companies, by di Sara Trust Settlement - one trust of wey Abramovich na di ultimate beneficiary.

Each company buy a 12.5% stake for Russian advertising giant for September 2003 for di same price - about $130,000 (£80,000) each.

Di price dem pay dey "ridiculous", na so Vladimir Milov tok, a former energy minister for President Putin first term wey now be vocal opposition leader. "Dat stake dey clearly worth much more, by many orders of magnitude."

At di time dem buy am, Video International enjoy dominant position for di domestic TV advertising market, dem dey take a cut of any advertising airtime purchase on Russian channels.

Di company dey "half a step away from di Kremlin administration", according to Oga Milov.

Oga Abramovich bin get stake for Video International for di next seven years. At one point, di company bin declarea turnover of "more dan $2bn [£1.29bn]". Dem pay dividends of $30m (£19.3m) to Finoto and Grosora over dat period.

Video International report revenues of $3bn (£1.9bn) for 2010. However, Finoto and Grosora each sell dia investment dat year for just $20m (£19.5m), price wey dey below dia fair market value.

Finoto Holdings sell dia stake to Med Media Network, one company nominally owned by Sergei Roldugin.

Di same day as di Finoto Holdings sale, di oda Abramovich-linked company, Grosora Holdings, sell dia 12.5% stake to Namiral Trading Ltd, one company wey later dey linked to Aleksandr Plekhov.

Putin's 'wallets'

Dem uncover financial links between President Putin and Oga Roldugin for 2016 as part of di Panama Papers, wey involve di leak of millions of confidential documents from di Panama-based law firm Mossack Fonseca.

Oga Roldugin, along wit Oga Plekhov, dey di centre of one suspected money-laundering scheme wey Bank Rossiya and some of President Putin closest associates run.

Bank Rossiya chop sanction from US goment for 2014, wey describe dem as "di personal bank for senior officials of di Russian Federation".

Dem uncover financial links between President Putin and Oga Roldugin for 2016 as part of diPanama Papers, wey involve di leak of millions of confidential documents from di Panama-based law firm Mossack Fonseca.

Oga Roldugin, along wit Oga Plekhov, dey di centre of one suspected money-laundering scheme wey Bank Rossiya and some of President Putin closest associates run.

Bank Rossiya chop sanction from US goment for 2014, wey describe dem as "di personal bank for senior officials of di Russian Federation".

Oga Roldugin bin tell New York Times dat time say im no be businessman and e no "get millions". However, at least on paper, im bin get an offshore fortune of ova $100m (£61m).

"Rodulgin clearly dey serve… as a cover-up for Putinpersonal beneficial ownership," na so Vladimir Milov tok.

"Dis guy dey absolutely clearly 100% a nominal figure because im no understand anytin about business, finance, international transactions and so on."

Revelations for di Panama Papers about bank accounts wey Oga Roldugin hold for Switzerland, lead to investigation and di trial of four Gazprombank employees earlier dis year.

Di bankers face accuse by Swiss prosecutors of failing to properly check accounts wey dem open in di name of Roldugin.

Dem also say dem fail to identify di Russian president's friend as politically exposed – somebody wey im position or relationships mean say dem fit dey more exposed to risks of corruption, and dem require more checks under international finance regulations.

According to di indictment, accounts wit Gazprombank simultaneously establish for both Med Media Network and Namiral Trading Ltd wit identical "purpose and structure" to "hold shares and receive dividends" from Video International.

Di prosecutors say di arrangement represent a direct extension of "assets managed... for di Russian political establishment".

Oga Roldugin and Oga Plekhov na "straw men", and dem no be di real beneficiaries of di accounts, di prosecutors alleged.

All four bankers chop conviction, but tori be say dem dey appeal di mata.

BBC bin write to Oga Plekhov, Oga Roldugin, Bank Rossiya and President Putin for comment but dem no respond.

'Secret conduit'

Many wealthy Russians dey use Cyprus, wey be EU member state, as part of dia network of offshore investments.

Through these economic relations, Russia dey "worth tens of billions of dollars to di Cyprus economy each year", na so Fergus Shiel of di ICIJ tok.

Di Cyprus Confidential investigation raise "grave issues" for European institutions and EU member states, Shiel kotinu.

"Wetin we see for these documents na a European member being a conduit for di secret financial operations of diKremlin, of Vladimir Putin and im allies."

However, signs dey say Cyprus fit dey clean up wetin dem do.

Following di invasion of Ukraine for 2022, many Russians wey pipo consider close to di financial assets of President Putin don chop sanction from EU. Dis get direct consequences for those wit Cypriot investments.

"Di sanctions reach home Cyprus no go dey used by oligarchs to support didirty orders of Putin," na so Alexandra Attalides, one independent Cypriot MP tok.

Meanwhile, reports suggest say Oga Abramovich now dey spend im time between di Russian resort of Sochi, Istanbul and Tel Aviv. Im get Russian, Israeli and also Portuguese passports.

Di oligarch still remain di subject of sanctions for UK and EU, but no be for US, wia many believe say im still hold better assets.