Russian oligarch Abramovich transferred assets to his children to avoid sanctions

Russian oligarch Abramovich transferred property to his children to avoid sanctions


Russian oligarch Roman Abramovich tried to protect his fortune by transferring billions of dollars to his children just before he faced sanctions in retaliation for Russia's invasion of Ukraine, according to information published Friday by The Guardian newspaper. 

According to documents obtained by the British daily, ten trusts for the benefit of Roman Abramovich “were quickly reorganized in early February 2022”, a few weeks before the invasion of Ukraine, indicates- he.

“These changes have made Abramovich's seven children, the youngest being 9 years old, the beneficiaries of the assets held in these trusts for a value of at least 4 billion dollars”, adds the newspaper, which specifies that this reorganization was not illegal.

Those assets would include real estate properties, yachts, helicopters and private jets.

They would now difficult to seize or freeze for the authorities insofar as the children of the oligarch, former owner of the English football club Chelsea, are not affected by the sanctions, even if they could seek to demonstrate that the billionaire is the one who actually controls them.

The documents obtained by the Guardian come from the hacking of a financial establishment administering the trusts of Abramovich in Cyprus, indicates the daily.

The European Union and the United Kingdom placed in March 2022 the oligarch on the list of people sanctioned for their closeness to the Moscow regime. 

But he was not sanctioned by the United States, which the opponent in the Kremlin deeply regretted Alexei Navalny, currently in prison, noting that some of his companies “continue to supply metal to the Russian Ministry of Defense”.

The United States only seized two planes belonging to Roman Abramovich in June, suspecting them of having been used in violation of sanctions against his country.

In September, the oligarch allegedly played a role in the release of five Britons captured in Ukraine, according to the testimony of one of them, who related that Abramovich was present in the plane with which they o nt left Russia.