About
Igor Makarov

Igor Makarov, a Cyprus national and tax resident, is the Founder of ARETI International Group. He has also held Moldovan nationality for more than two decades.  Вorn in 1962 in Ashgabat, Turkmenistan, he is a Cyprus-based entrepreneur and philanthropist, whose life story reflects determination, resilience, and an unwavering commitment to excellence – both in sports and business.

1983

With a passion for both academics and sports, Igor Makarov graduated from Turkmen State University in 1983. From 1979 to 1986, he competed as a world-class cyclist, representing the USSR national team. A multiple national and international champion, he earned the distinguished title of International Master of Sports.

1986

After concluding his celebrated cycling career in 1986, Mr. Makarov turned his focus to business. Starting with a small consumer goods manufacturing venture, he soon expanded into broader entrepreneurial activities, guided by vision and strategic insight.

1992

In 1992, he founded ITERA International Group of Companies (ITERA IGC), based in the U.S. and Cyprus. Initially focused on food supply to Turkmenistan, the company soon entered the energy sector when Turkmenistan began bartering natural gas in exchange for goods. Under Makarov’s leadership, ITERA became a major supplier of Turkmen gas to the former Soviet republics and Eastern Europe.

Mr. Makarov is widely recognized as a pioneer in developing the Turkmen gas export system, creating efficient distribution networks that supported the economic revitalization of many newly independent states – including Ukraine, Armenia, Azerbaijan, Georgia, Latvia and many other countries, following the collapse of the USSR.

2000

By the early 2000s, ITERA operated across 24 countries and delivered over 100 billion cubic meters of natural gas annually to Eastern European markets.

2013-2015

In 2013, Igor Makarov sold ITERA. Following the sale of its remaining oil and gas assets in Russia, he shifted focus to new ventures outside the region. In 2015, he established ARETI International Group, a Cyprus-registered company with operations in Europe, North America, and the Middle East.

PROMOTING CYCLING

Driven by the same passion that defined his athletic career, Igor Makarov has played a significant role in advancing global cycling. From September 2011 to September 2025, he served as a member of the UCI (Union Cycliste Internationale) Management Committee, contributing to the sport’s international development.

For many years, his companies have supported European cycling and its national federations through the UEC (Union Européenne de Cyclisme).

Mr. Makarov founded and sponsored the KATUSHA professional cycling team, registered in Switzerland. Competing in the World Tour from 2009 to 2019, KATUSHA consistently ranked among the world’s top teams and brought together riders from diverse nationalities. Except for a brief period of co-sponsorship with German brand Alpecin, Mr. Makarov was the team’s sole sponsor until its acquisition by Israel Cycling Academy in 2019.

Currently, Igor Makarov actively promotes cycling development in Cyprus, where he resides.

Mr. Makarov’s contribution to international cycling was recognized in 2016, when he received the UCI Merit Award at the UCI Congress for his significant contribution to the development of cycling, especially with grassroots and schools projects. In 2024, the Cyprus Cycling Federation presented him with the Aristides Konstantinidis Award in recognition of his long-standing contribution to the development of cycling in Cyprus.

CHARITABLE ENDEAVORS

Igor Makarov and his companies have a long-standing record of philanthropic support for humanitarian, healthcare, social inclusion, cultural, educational and community initiatives. Selected activities over the past three decades include:

HEALTHCARE, DISABILITY & SOCIAL INCLUSION

Adult Autism Clinic at Mount Sinai Medical Center, United States
In 2017, Igor Makarov, through the Makarov Foundation, funded the establishment of the Adult Autism Clinic at Mount Sinai Medical Center in Miami Beach, Florida. Dedicated by the Makarov Foundation, the hospital-based, sensory-friendly clinic provides specialized primary, specialty and diagnostic care for adults aged 18 and over with autism spectrum disorder. Its medical staff have received specialized training from the University of Miami’s Center for Autism and Related Disabilities.

Downside Up Foundation
From 2009 through at least 2013, Makarov and his companies supported the Downside Up Foundation’s initiatives for children with Down syndrome, particularly its “Sport for Good” programme. ITERA participated in and supported charity cycling events that raised funds for free developmental and family-support programmes. Makarov also personally participated in promoting these initiatives.

Best Buddies International, United States
From at least 2017 to 2020, the Makarov Foundation supported Best Buddies International, which promotes opportunities and social inclusion for people with intellectual and developmental disabilities. The Foundation sponsored the organization’s Hyannis Port Challenge in 2017 and Miami Challenge in 2019 and 2020. Makarov personally participated in the 70-mile Miami ride in 2019.

Medical and humanitarian assistance in Central Asia
Makarov and his businesses also supported healthcare and humanitarian initiatives in Central Asia. In Uzbekistan in 2001, ITERA donated medicines for sick mothers and children from low-income families through the “For a Healthy Generation” Foundation, distributing supplies through support centres in Parkent, Yukori Chirchiq, Ohangaron and Bekabad. In 2021, Makarov’s ARETI made a charitable contribution to Turkmenistan’s national fund supporting children in need of care. In 2021, Makarov’s ARETI made charitable contribution to Turkmenistan’s national fund supporting children in need of care. In Turkmenistan, Igor Makarov’s companies also supplied ambulances to strengthen medical services for the country’s rural population.

CHILDREN, FAMILIES & HUMANITARIAN ASSISTANCE

Specialized books for blind and visually impaired children
From 1999 to 2013, Makarov, through his businesses, supported the Foundation “Illustrated Books for Little Blind Children” and its “Books as a Gift” programme, helping finance the production and free distribution of specialized tactile and Braille books, with later editions incorporating audio features, for blind and visually impaired children in Ukraine, Georgia, Belarus, Azerbaijan and other participating locations. The Foundation’s publishing project had been included in the programme of the UN and UNESCO World Decade for Cultural Development. In 2007, Makarov’s company ITERA received the Gold Medal of the Foundation’s “Books as a Gift” programme.

Make-A-Wish Southern Florida
In 2017, the Makarov Foundation co-presented the 23rd Annual InterContinental Miami Make-A-Wish Ball. The event raised more than $2.3 million in total for Make-A-Wish Southern Florida, supporting its work on behalf of children with critical illnesses.

His House Children’s Home
Makarov has also reported support for His House Children’s Home in South Florida, an organization providing residential, foster-care and related services for vulnerable children and young people.

Fundación Niños del Sol
Makarov’s charitable activities have included collaboration with Colombia’s Fundación Niños del Sol, which assists vulnerable children and families, including children affected by HIV/AIDS and children from disadvantaged backgrounds.

Hope for a Healthier Humanity
Makarov and his charitable organizations also had collaboration with Hope for a Healthier Humanity, a U.S.-based nonprofit supporting health and community-development programmes in underserved communities in Central America.

RELIGIOUS, COMMUNITY & CULTURAL HERITAGE

Religious and cultural heritage projects
Restoration and construction of churches, synagogues, mosques, and Buddhist temples around the world. Beginning in 1999, Makarov and his companies supported the restoration and construction of religious and cultural heritage sites, including projects in Cyprus, Greece, the USA, India and other countries.

COMMUNITY DEVELOPMENT & PUBLIC SPACES

Public park in Limassol, Cyprus
In 2021, Igor Makarov joined other Limassol-based private sponsors in financing the creation of a public park in the Malindi area of Parekklisia, on the eastern coast of Limassol. The sponsors jointly funded the construction cost and subsequently supported the park’s ongoing maintenance. Completed in September 2021 on approximately 3,000 square metres of land leased to the Parekklisia Community Council, the park includes a children’s playground, pedestrian paths, benches and landscaping featuring Cypriot flora and extensive aromatic planting.

ARTS & CULTURE

Louvre Abu Dhabi, United Arab Emirates
Since 2025, Igor Makarov has supported arts and culture as patron of Louvre Abu Dhabi, where he is officially listed in the Donor category of the museum’s Patrons Programme. Patron contributions support the preservation and development of the museum’s collection, exhibitions, educational programmes and broader cultural activities, contributing to Louvre Abu Dhabi’s mission of fostering dialogue and exchange between cultures and presenting humanity’s shared cultural heritage.

 

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