Leaked documents claim Roman Abramovic transferred billion-dollar assets to his kids before Ukraine invasion

Image of Roman Abramovic. Credit: Wikipedia - By Marina Lystseva - https://m.vk.com/album447796709_0?rev=1&from=profile&z=photo447796709_456239017%2Falbum447796709_0%2Frev/%7C2=vk.com, GFDL 1.2, https://commons.wikimedia.org/w/index.php?curid=116348071

Before Russia invaded Ukraine, Russian businessman Roman Abramovich transferred massive fortunes to his children’s trust funds claim leaked documents.

 

Russian businessman Roman Abramovich transferred a significant chunk of his fortune to his children’s trust funds around three weeks before the start of the conflict with Ukraine. This claim was made in an exclusive report on Friday, January 6, by The Guardian newspaper on its website.

It cited an anonymous source who provided the news outlet with a large cache of leaked documents from the Cypriot company MeritServus. This company specialises in registering offshore companies and trust funds.

According to the publication, in total, Abramovich transferred at least $4 billion of assets to his seven children, including real estate, private jets, helicopters, and yachts.

Abramovich allegedly moved these assets when Western governments warned that they would impose sanctions against representatives of Russian businesses in the event of a conflict in Ukraine.

According to The Guardian, the FBI previously reported that Abramovich had changed the ultimate beneficiaries of two of his foundations. It pointed out that after the publication of new data on the funds in the EU, a discussion might have to take place regarding the need to freeze the assets of Abramovich’s children.

In the EU and the UK, the entrepreneur fell under sanctions back in March 2022. He is now trying to challenge these, but no restrictions were imposed on him in the U.S. Experts interviewed by the news outlet said that the entrepreneur’s actions can be considered purposeful, but it would be difficult to recognise them as unlawful, as reported by tass.ru.

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Chris King

Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]

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