Fact Check: Was Putin's Spokesman Caught Wearing $6 Million Watch?

The reported riches of Vladimir Putin and his closest allies have been scrutinized for years, especially since the invasion of Ukraine, as the West started freezing or taking ownership of assets belonging to Russian elites across the globe.

As early as March 2022, the White House announced a series of sanctions against (among others) Russian presidential spokesman Dmitry Peskov, who it described as "a top purveyor of Putin's propaganda," and his immediate family.

Peskov, who this week stated that delivery of American weapons to Ukraine would lead to an escalation of the conflict, is said to be connected to sizable wealth beyond his own enviable salary, which has previously dwarfed that of the Russian president.

With economists projecting that Putin's war in Ukraine could push the majority of Russians into poverty by the end of 2023, photos shared this week of Peskov wearing a luxury watch claimed to be worth $6 million were quickly met with outrage.

The Claim

A number of tweets, posted on December 20, 2022, claim that Putin's aide Dmitry Peskov owns a six-million-dollar watch.

A since-deleted tweet (archived here) by former U.S. ambassador to Russia, Michael McFaul, which received more than 6,000 engagements, stated "Putin's aide, Peskov, is wearing a $6 million watch! Who does that? & Why dont [sic] Russians get more pissed off about this?

"Sometimes, I wish there were more real communists in Russia, pushing for a class-based revolution against this corrupt ancien [sic] regime."

The Facts

Peskov's riches have made fertile ground for controversy and outrage for some time in Russia, although his total net worth remains unclear, and has yet to be established.

Expensive luxury watches have been among the most closely scrutinized items among Russian elites, including those worn by the Head of the Russian Orthodox Church and Putin himself.

But Peskov's affection for pricey timepieces was so widely reported that there is even a website dedicated to tracking the value of his watches, aptly named Peskov Watch.

But the question of the exact value of the latest item decorating the government spokesman's wrist, and how it relates to his net worth, is slightly more complicated.

Another website, Russian Asset Tracker—an OCCRP (Organized Crime and Corruption Reporting Project, a network of investigative journalists)-powered database of Russian wealth that monitors "corrupt politicians and well-connected businessmen"—states Peskov's family members have been sanctioned for living "luxurious lifestyles that are incongruous with Peskov's civil servant salary and are likely built on the ill-gotten wealth of Peskov's connections to Putin."

The tracker also links Peskov to an "Upmarket Parisian Apartment," owned by a French firm controlled by ex-wife Ekaterina Solotsinskaya. The apartment is in Avenue Victor Hugo, in Paris's 16th Arrondissement, where properties often sell for millions of dollars.

One of Putin's most loyal associates has been pictured with expensive accessories before. In 2015, during his wedding, Peskov was seen wearing a limited edition watch by designer Richard Mille, said to be worth $620,000 (around 37 million rubles, based on the exchange rate at the time), according to an investigation by Putin's main political rival, Alexei Navalny, and his team.

Back then, Navalny, who has been in prison since 2021 on what he and human rights advocates call fabricated charges, went to the original source—the brand itself, Richard Mille Boutique—which provided the value estimate in response to his request for comment.

But despite Peskov's apparent penchant for unique and high-value luxury items, the watch in the photo shared recently on social media is not believed to be worth $6 million. However, it is by no means cheap.

An article by Russia-focused independent media outlet, The Insider, posted on 20 December, 2022, (which included the photos taken at the 2021 birthday party of Svetlana Ivanova, wife of Russia's deputy Minister of Defence Timur Ivanov) said the watch was worth "$85,000," or around 6.1 million rubles.

The Insider's article linked to another, more recent, investigation by Navalny's team, which reached a similar figure.

In the video version of the exposé, its author and journalist Maria Pevchikh said the "first few shots show Peskov giving a toast with a microphone, congratulating the birthday girl Svetlana. The official is dressed modestly, almost domestically, but his watch is clearly visible on his arm.

"Of course, it's not the 37 million one, but it's of the same brand, Richard Mille, and it costs about 6 million rubles, which is half of his annual income."

A photo in the video shows an RM027 RN by Richard Mille, which, according to specialist watch websites WorldTempus and Hodinkee, has been valued at, and sold for, between $425,000 to $637,000 (around 30 million to 46 million rubles).

It is not entirely clear if the photo used in the article is simply illustrative or whether it is in fact the exact model Peskov is sporting.

Pictures published on the Russian website Peskov Watch, which tracks the strength of the Russian economy relative to Peskov's timepieces, suggest it could be a Richard Mille Rafael Nadal Chronofiable 035, listed at €84,500.

A 2022 article by luxury watch dealer Luxury Bazaar states its price today would be around $95,000 (about 6.8 million rubles).

While the design of the watch Peskov was wearing looks like a Richard Mille, it's hard to tell from the photo what model it actually is. In any case, it appears the claim that it's worth $6 million is the result of either a mistranslation or a currency conversion mix-up.

A tweet by Pevchikh, posted on December 20, 2022, includes the photos of Peskov with a message which, when translated, online states the value of the watch is "6 million."

While Richard Mille watches have been sold for millions of dollars, and there is not enough clear visual information to verify which watch model Peskov was wearing, it appears the $6 million figure is simply a misinterpretation of either Maria Pevchikh's tweet or the video of Navalny's investigation, with the currency—roubles—made clear in the written version of the report.

Though in this particular case the true value of the watch is indeed significantly overstated, the fact that Peskov has been photographed on multiple occasions with Richard Mille watches still provides an insight into the considerable wealth that many of Putin's closest aides and allies have reportedly accumulated.

In June, Voice of America reported that a U.S.-backed task force had seized $30 billion worth of assets "belonging to allies of Russian President Vladimir Putin" and had frozen $300 billion in Russian Central Bank reserves.

Newsweek has contacted Michael McFaul, the Kremlin, and a Richard Mille representative for comment.

The Ruling

False.

While Dmitry Peskov possesses a number of expensive watches by designer Richard Mille, including one estimated to be worth more than $600,000, the watch in the photo shared on social media is not worth $6 million.

Reports by Russian independent media claimed the watch in the photo was worth 6 million rubles, which appears to have been misinterpreted or mistranslated into a dollar value.

FACT CHECK BY Newsweek's Fact Check team