Dmitry Muratov, the editor-in-chief of the independent Russian newspaper Novaya Gazeta, has auctioned off his Nobel Peace Prize medal for $103.5 million to help Ukrainian refugees. 

Heritage Auctions conducted the sale in New York on Monday, but the winning bidder remains unknown. 

Muratov was co-awarded the peace prize in 2021 with Maria Ressa, co-founder of the online news site Rappler. Both journalists are known for their efforts towards freedom of expression in Russia and the Philippines respectively.

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Muratov was part of the group of journalists who founded Novaya Gazeta in 1993 after the fall of the Soviet Union. Novaya Gazeta published stories that sometimes drew attention and attack from the Kremlin. Six Novaya Gazeta journalists and collaborators have been killed in connection with their work since 2000. 

The newspaper’s YouTube channel broadcast the final bidding process.

“We have decided to help the victims of this war by giving away our most precious, most valuable property. So we have decided to auction this famous gold medal. It weighs quite a lot, to be honest,” Muratov said.

“This medal is awarded to the winner of the Nobel Peace Prize. All the money will go to the refugee children from Ukraine wherever they are now: in Europe, Ukraine, or Russia. This is the whole world’s responsibility to take care of them.”

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Ressa and Muratov are both known for publishing investigations that have angered the leaders of their countries, and have become symbols of the fight for press freedom.

Novaya Gazeta suspended its operations in March, days after Russia’s invasion of Ukraine. The Kremlin called its invasion of Ukraine a “special military operation” and discouraged its citizens and media from referring to its activities in Ukraine as a war.