Business Spotlight

Areti Promotes Worldwide Cycling led by Innovator Igor Makarov

Igor Makarov has a proven capacity to multi-task and create successful team environments. Besides his unwavering dedication to establishing his business empire, Makarov reveres education and sports.

Igor Makarov

Igor Makarov is the founder of ARETI International Group , privately-owned holding corporations with business interests in Europe, Central Asia, the United States, Canada, and the Middle East. Mr. Makarov was born in 1962 in Ashgabat, Turkmenistan, and has accomplished indelible achievements in business and sports. 

Igor Makarov Education and Sports Background 

Igor Makarov has a proven capacity to multi-task and create successful team environments. Besides his unwavering dedication to establishing his business empire, Makarov reveres education and sports. He graduated from Turkmen State University in 1983 and participated in cycling from 1979 to 1986, becoming a world-class cyclist. 

Makarov was a USSR national cycling team member, winning many medals and awards in national and international championships. His determination and enthusiasm for sports earned him an International Master of Sports title. 

Though he retired from active sports, Igor Makarov has been involved in world cycling development, sponsoring and supporting the international cycling movement. He became a member of the International Cycling Union (UCI) Management Committee in 2011. 

Igor Makarov Career as an Entrepreneur 

Makarov has established a name for himself as a successful entrepreneur. At the end of his athletic career in 1986, he bootstrapped a consumer goods manufacturing company and gained experience running successful businesses. Makarov is known for his involvement in the energy sector, charity and sports. 

In the energy sector, Makarov became the founder of ITERA International Group of Companies (ITERA IGC), a major private conglomerate in the natural gas industry. Under his leadership, ITERA became one of the largest independent gas producers and expanded its operations in many countries. By the early 2000s, ITERA IGC had a wide range of subsidiaries in various economic sectors worldwide, ranging from solar energy to pharmaceuticals. In 2013, Igor Makarov sold ITERA and all oil and gas assets in Russia to establish other business interests outside the Russian market unrelated to previous dealings. In 2015, Mr. Makarov founded ARETI International Group. 

ARETI International Group Overview 

ARETI International Group is based in Cyprus, where Igor Makarov permanently lives as a Cyprus national and tax resident. ARETI comprises offices in Cyprus, Switzerland and Turkmenistan with business interests in Central Asia, Western Europe, Canada, the United States, and the Middle East. Currently, the company is primarily focused on investments in the energy sector, as well as charity and sports. 


Because of his love for sports, especially cycling, Igor Makarov is a member of the International Cycling Union management committee. ARETI International Group sponsors and promotes cycling worldwide. For many years Igor Makarov and his companies financially supported national federations of the UEC. Igor Makarov founded the Swiss-registered professional cycling team "KATUSHA", and was its primary sponsor many years. The Team emerged as one of the best teams in the world and had successfully performed on the World Tour from 2009 to October 2019. 


Igor Makarov is known for his philanthropic endeavors. Makarov and his companies carry out charitable activities to protect the needs of the vulnerable. Igor Makarov has completed many large-scale charity projects and events over the past 30 years. One of the latest notable charitable donation by Igor Makarov is the establishment of Mount Sinai's Adult Autism Clinic in the Mount Sinai Medical Center in Miami in 2017. 

Makarov and his companies sponsored medicine-related programs, Downside-Up Project initiatives to help children with Down syndrome, and the Books for Cecutient Children Fund project aimed at helping visually impaired children. Other ARETI's charity events include the construction and reconstruction of Churches, Synagogues, Mosques, and Buddhist temples worldwide, support for disabled athletes, and organization of New Year's celebrations and circus events for children in foster homes. 

Igor Makarov's charitable actions and ARETI International Group's social responsibility and sponsorship of various foundations, charities, and projects earned them UNESCO gold certificates and a gold medal.