Abramovich transferred his fortune to his sons to avoid fines

Abramovich transferred his fortune to his sons to avoid fines

by Paola de Carolis

On the eve of the invasion of Ukraine, the entrepreneur transferred ten offshore real estate properties, several luxurious houses, yachts, helicopters and private planes to his heirs.

LONDON — Billions of dollars in cash and real estate on behalf of children on the eve of war in Ukraine. Roman Abramovich’s actions to protect assets from sanctions emerge from an exclusive Guardian report, which tells us it would be at least $4 billion, for a total of ten offshore funds owned by Abramovich Sr. in favor of the next generation has renounced.

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Several luxurious houses in London, some yachts, helicopters and private planes are among the assets the Russian billionaire – who also has Israeli and Portuguese nationality – is said to have inherited from his seven children, the youngest of whom is nine years old. to avoid being hit by international measures. The reorganization would be completed just days before Russia invaded Ukraine. Overall, the sum could be even higher, emphasizes the Guardian, which obtained the documents from an anonymous source.

The funds are managed by a Cypriot offshore provider. Abramovich had offered to mediate between Russia and Ukraine but was forced to leave Chelsea football club last year and leave Britain due to British sanctions. He recently settled in Istanbul where he would also transfer four yachts.

January 7, 2023 (change January 7, 2023 | 16:56)