Contents tagged with Russian oligarchs

  • Billionaire Abramovich dumps Russian assets in preparation for sanctions

    The billionaire Roman Abramovich, who was blacklisted by the US in April last year, had his British visa revoked and was forced to acquire an Israeli passport in the summer, has systematically been selling off his Russian assets.

    On 7 March, Abramovich, the 11th wealthiest person in Russia with $10.8 billion, sold the Russian bank VTB his 20% share in Channel One that he had owned since the early 2000s, after acquiring a package of shares from Boris Berezovsky.

    One week later, on 13 March, …

  • Wealthiest 98 Russians have more money than the rest of Russia's population combined

    The Russian billionaires continue to amass wealth while the earnings of the population at large decline and the economy becomes increasingly nationalized.

    At the end of 2018, the combined wealth of the 98 richest Russians, including those on the Forbes list, reached $421 billion.

    Over the year, the owners of the Russian economy’s key assets became 1.1 trillion rubles richer ($16.8 billion).

    Their total capital of 29 trillion rubles at the end of last year was more than the combined savings …

  • Lithuania blocks investment made by Russian oligarch because of threat of espionage

    Delfi.it reports that the Department of State Security and Military Intelligence of Lithuania has blocked the investments of a Russian corporation into a Lithuanian company because the company is suspected of of collecting cartographic data for the Russian army.

    According to the Lithuanian special services, the Russian oligarch Vladimir Yevtushenkov’s company Sistema was planning on acquiring a Lithuanian company through the investment firm of his son, specializing in cartography and aerial …

  • One more Russian billionaire asks Putin for bailout

    Not long after Vladimir Potanin asked for budget assistance to help fund Nornickel’s ecological projects, another Russian billionaire has approached Russian President Vladimir Putin to solicit a government bailout, finanz.ru reports.

    Leonid Mikhelson, co-owner of Novatek and the third richest person in Russia with an estimated $18 billion according to Forbes, claims to be in need of 900 million rubles to speed up the construction and activation of the liquefied natural gas (LNG) transshipment …

  • Russian oligarchs forced to leave offshore havens

    With three months of sanctions, the Donald Trump Administration has managed to do something which the Russian government has been unable to do for the last 27 years: stop Russian money from flowing into offshore accounts. finanz.ru reports.

    Since the tightening of sanctions in April, which was accompanied by a mass audit of Russians’ accounts in Cyprus, the freezing of Oleg Deripaska’s and Viktor Vekselberg’s assets, and the elimination of the Baltic “laundromat” for laundering Russian money, …

  • UK ratifies Kremlin-linked oligarch blacklist

    The British government has made and approved a blacklist of oligarchs close to the Kremlin whose freedom of movement in the UK and the rest of Europe will be restricted.

    The list, which was recently signed by British Prime Minister Theresa May, includes Rosneft executive chairman Igor Sechin, Evraz co-owner Arkadiy Abramovich, MegaFon primary shareholder Alisher Usmanov, Rusal owner Oleg Deripaska, as well as the brothers Arkady and Boris Rotenberg, who have all amassed wealth from Russian …

  • Media: sanctions force Russian oligarchs to sell their yachts

    Russian billionaire oligarchs Alexander Mamut and Vasily Anisimov, the 42nd and 68th richest Russian citizens according to Forbes are hurrying to sell their yachts, reported Russian news agency Primechaniya.

    Mamut sold his elite yacht Kibo for 129 million dollars. The new owner whose name is unknown rechristened the yacht Grace. It is now sailing in the Gibraltar. The vessel was originally built in a German shipyard in 2014. Among its luxurious furnishings is a table covered with leather made …

  • EU to restrict cash movement for Russian oligarchs and officials

    The EU authorities have decided to control more strictly the movement of large sums of cash in light of an incident in which Russian senator and billionaire Suleyman Kerimov is believed to have brought nearly €900 million in cash into France in order to launder it through purchasing property on the French Riviera.

    On Tuesday, the Council of the EU confirmed a new customs control regulation to combat the movement of shady capital and money laundering. Persons bringing amounts greater than €10,00 …

  • Combined fortune of Russian billionaires grew by $18.4 billion this year

    The overall capital of Russian billionaires grew up to 18.4 billion dollars from the start of the year, RIA Novosti reports, citing the ratings on the Bloomberg Billionaires Index.

    Twenty-three Russian businessmen were included in the rating of 500 billionaires. According to Bloomberg, the richest Russian is the co-owner of Novatek, Leonid Mikhelson, whose capital had grown by 4.93 billion dollars since January and reached a total of 21.6 billion dollars. Second place is taken by the …

  • Exodus of Russian oligarchs to Cyprus accelerates

    The demand among Russians for property in European offshore havens with the consequent acquisition of citizenship is growing, finanz.ru reports.

    Between January and August 2018, the number of applications by Russian citizens to purchase residential and commercial property in order to acquire Maltese or Cypriot citizenship rose by 40%, according to the consulting company Knight Frank.

    Cyprus’s passport program requires applicants to invest at least €2 million in the economy, of which €500,000 …