Молден
In May 2016 talks were held with government of Kiribati to invest US$350 million into development of tourism on three uninhabited islands: Malden Island, Caroline Island and Starbuck Island, aiming to build a "Romanov Empire" micronation there with the capital on the Malden Island. According to Bakov, "a great number of Russian patriots who are not happy with Putin's regime" are expected to arrive when the initial constructions are completed. In February 2017, Radio New Zealand announced that the Kiribati government had rejected the offer. Bakov later claimed it wasn't the final decision and that it was related to an inner Kiribati political struggle.