Ukraine insists on confiscating art objects from sanctioned Russian oligarchs and their sales.
The National Agency for the Prevention of Corruption has published one of the largest lists of works of art in the private collection of Russian oligarch Roman Abramovich. It includes 367 works of art, valued at nearly $1 billion, the NAPC press service reports.
It is noted that works of art are used by Russian oligarchs to avoid and avoid punishments, preserve and hide their wealth.
“The best countermeasure is the openness of information about works of art owned by sanctioned persons. It is for this purpose that the NAPC has conducted a detailed analysis and collected all the known works of art of the oligarch in a list on the portal War and sanctions– said the NAPC.
The information published by the agency cannot be found on the official websites of auction houses that sell works of art.
Abramovich reportedly attended a meeting between Russian President Vladimir Putin and Russian oligarchs before the start of a large-scale war against Ukraine, where the consequences of the war, including future sanctions, is discussed.
The oligarch transferred the rights to this particular collection to his ex-wife a few weeks before the invasion, presumably to avoid the consequences of sanctions.
A full list of Abramovich’s paintings can be viewed here.
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“By having such an open database of works of art, we can prevent them from circulating in the industry and being used to evade sanctions. Our goal is to obtain these art objects from sanctioned entities and sell the The funds received should be used to help restore Ukraine,” said NAPC head Alexander Novikov.
NAPC also called on all responsible participants in the art market to open up information about art objects owned by Russian oligarchs and use the data from the War and Sanctions portal. In this way, they can avoid carrying out operations with such activities, which may later be classified as evasion of sanctions.
As you know, after Russia’s full-scale invasion of Ukraine in February 2022, the EU imposed sanctions against Russian officials and businessmen, while simultaneously freezing Russian assets worth hundreds of hundred billion dollars. Abramovich is also on this list. Forbes estimated the Russian oligarch’s wealth at $9.2 billion.
It was previously reported that Abramovich, a few weeks before Russia’s invasion of Ukraine, transferred a collection worth nearly $1 billion to his ex-wife, fearing the consequences of Western sanctions.
Source: korrespondent
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