About
Igor Makarov

Igor Makarov, Founder of ARETI International Group, was born in 1962 in Ashgabat, Turkmenistan. Mr. Makarov has accomplished professional and athletic successes. His life has been the culmination of pure determination, strength of spirit, and unwavering dedication.

 

1983

With an equal interest in education and sports, Igor Makarov graduated from Turkmen State University in 1983 and competed as a world-class cyclist from 1979 to 1986.
As a member of the USSR national cycling team and a winner of many national and international championships, Makarov achieved the title of International Master of Sports.

1986

At the end of his highly decorated athletic career in 1986, Igor Makarov cultivated a growing interest in business and embarked on a burgeoning career as an entrepreneur. Starting initially with a small consumer goods manufacturing company, Mr. Makarov built upon that experience to run numerous successful enterprises. Those early accomplishments, due in large part to his initiative and keen business acumen, led to the development of lucrative companies, including an international energy company, in the early 1990s.

1992

In 1992, he became the founder and head of ITERA International Group of Companies (ITERA IGC), and within two years, the Group began to supply natural gas sourced from Turkmenistan to former USSR countries and countries in Eastern Europe. Mr. Makarov, hailed as the innovator of the Turkmeni gas industry, is renowned for his expertise in establishing distribution networks. 

2000

By the early 2000s, ITERA International Group of Companies included a diverse array of subsidiaries operating in various sectors of the economy in twenty-four countries around the world. Natural gas deliveries to former USSR countries and countries of Eastern Europe amounted to 100 billion cubic meters per year.

2013

Igor Makarov sold ITERA in 2013, and after the sale of all oil and gas assets in Russia, namely ITERA Oil and Gas Company, Igor Makarov started looking for new business opportunities. As a result, a decision was made to eventually leave the Russian market and develop new projects not related to previous activities. 

2015

In 2015, Igor Makarov started a new European based Cyprus-registered international company called ARETI with business interests in Central Asia, Europe, the United States, Canada and the Middle East.

Today, ARETI is focused on investments in various sectors worldwide, including the energy sector, as well as charity and sports. ARETI has no business interests or any affiliated companies in Russia.

Employing the same passion he uses in his business practices, Igor Makarov is also actively involved in the development of world cycling. In September 2011, he was elected as a member of the International Cycling Union (UCI) Management Committee. In addition, Igor Makarov was the founder and the main sponsor of the Swiss-registered professional cycling team KATUSHA, which successfully performed on the World Tour from 2009 to 2019 and was one of the best teams in the world for several years in a row.

 

Igor Makarov and his companies carry on charity traditions, which account for multiple large-scale charity projects and events completed over the last 30 years. Here are just a few of their completed charitable projects:

  • Thanks to a charitable donation by Igor Makarov, the Mount Sinai’s Adult Autism Clinic was opened in the Mount Sinai Medical Center (Miami Beach, USA) in 2017;
  • Igor Makarov and his companies sponsored Downside-Up Project initiatives aimed at helping children with Down Syndrome;
  • Worldwide charitable medicine-related programs. Some of them were organized at the national level in Central Asia;
  • Project of the Books for Cecutient Children Fund – books with convex illustrations and audio support for visually impaired children;
  • Reconstruction and construction of Churches, Synagogues, Mosques and Buddhist Temples across the world; 
  • Support for retired athletes with disabilities;
  • Organization of New Year’s celebrations and circus events for children from foster homes;
  • Charity projects in cooperation with various charity funds such as Best Buddies International, Chabad Lubavitch of Southside, Fundación Niños Del, His House Children’s Home, Hope For a Healthier Humanity, Make-A-Wish, Miami Padel Masters LLC, and many others. 

Igor Makarov’s and ARETI International Group’s long-term sponsorship of various international charities, foundations and social and environmental projects were awarded UNESCO gold certificates and a gold medal.

With his many triumphs, and his need to continue challenging himself physically and professionally, Igor Makarov has made himself the epitome of a successful international businessman and philanthropist.

Mr. Makarov is a Cyprus national and tax resident.

Copyright © 2025 Igor Makarov