The value of the collection of paintings, including works by Picasso and Monet, is estimated at one billion dollars.
Russian oligarch Roman Abramovich, a few weeks before Russia’s invasion of Ukraine, transferred an art collection worth nearly a billion dollars to his ex-wife, fearing the consequences of Western sanctions. The British publication The Guardian reported this on Friday, September 22, citing documents obtained by journalists.
The report states that on February 4, 2022, three weeks before Russia’s invasion of Ukraine, changes were made to the charter of the owners of the Cyprus trust Ermis Trust Settlement, according to which Abramovich’s share in the trust was reduced, and his ex-wife Daria Zhukova became the majority beneficiary of the trust from 51%. The Russian oligarch retained 49% of the shares.
Documents show that in 2018, Abramovich collected 367 exhibits worth $963 million. His art collection includes, among others, paintings by Claude Monet and Pablo Picasso.
The deal came into force in February 2022, just days after the UK government warned Kremlin oligarchs that their assets could be seized if Russia invaded Ukraine.
The UK imposed sanctions against Abramovich on March 10, 2022, leading to the freezing of his assets, including his football club Chelsea.
Soon after, the EU also imposed sanctions on Abramovich, a decision the Russian oligarch is now challenging. At the same time, he has not yet been subject to US sanctions.
Under EU, UK and US rules, any asset exceeding 50% of a sanctioned person’s assets can be frozen.
Earlier it was reported that the SBU had expressed suspicion of the Russian oligarch Ginner.
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.