Roman Abramovich handed over superyachts and private jets worth $4 billion to his children just before invasion of Ukraine, report says

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According to Bloomberg, Roman Abramovich is worth more than $7 billion.Laurence Griffiths/Getty Images

  • According to The Guardian, before the invasion of Ukraine, Roman Abramovich transferred assets to his children.

  • The oligarch’s assets include properties, superyachts, helicopters and private jets.

  • According to the report, he owns at least 10 more yachts than previously known.

Roman Abramovich’s assets, including luxury properties, superyachts, helicopters and private jets, were handed over to his children weeks before Russia invaded Ukraine, The Guardian reported.

Ten offshore trusts that own assets belonging to the sanctioned Russian oligarch were changed in February 2022, according to leaked files revealed by the paper.

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According to the report, assets worth more than $4 billion were transferred to his seven children just three weeks before the start of the war. Longtime aide to Russian President Vladimir Putin was sanctioned by the UK and the European Union in March.

His children’s economic interest in the trust’s assets — including the $700 million Eclipse superyacht and shares in Russian companies — rose from 51% to 100%, according to the report.

In addition to his six yachts worth more than $1 billion, Abramovich was revealed to own at least 10 more yachts and ships through offshore companies, TBEN reported, citing files it obtained alongside the Organized Crime and Corruption Reporting Project.

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The shuffling of assets was described in hacked files belonging to Cypriot company MeritServus, which reportedly managed the finances of the former owner of Chelsea FC for two decades.

MeritSevus chairman Demetris Ioannides did not respond to The Guardian’s requests for comment, but said: “A trustee’s main responsibility is to protect a trust’s assets.”

Companies controlled by Abramovich’s trusts had assets worth $2.5 billion by the end of 2021, according to the reports.

The oligarch’s net worth has increased by $72 million in the past year, according to Bloomberg’s Billionaires Index, to more than $7 billion.

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Abramovich seemingly reorganized other assets just weeks before the invasion of Ukraine. He transferred ownership of two $400 million private jets to his children in February through two trusts that control a web of shell companies, an FBI agent alleged in June.

Abramovich also tried to sell a property 15 days before the invasion, but was stopped by Portuguese authorities who froze the property. Three months after being hit by sanctions, the billionaire football club sold Chelsea for $5.3 billion, after owning the club for 19 years.

Abramovich representatives did not immediately respond to an Insider request for comment.

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