Abramovich gave superyachts, jets to children before the invasion

  • Roman Abramovich transferred the property to his children before the invasion of Ukraine, writes The Guardian.
  • The oligarch’s assets included property, superyachts, helicopters and private jets.
  • He owns at least 10 more yachts than previously known, according to the report.

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

Ten offshore trusts holding assets belonging to a sanctioned Russian oligarch were changed in February 2022, according to leaked files revealed by the newspaper.

Assets worth more than $4 billion were transferred to his seven children just three weeks before the war began, the report said. The longtime associate of Russian President Vladimir Putin was sanctioned by Great Britain and the European Union in March.

His children’s share of the foundation’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 found to own at least 10 other yachts and vessels through offshore companies, Forbes reported, citing files obtained with the Organized Crime and Corruption Reporting Project.

The transfer of assets is detailed in hacked files of the Cypriot company MeritServus, which managed the finances of the former Chelsea FC owner for two decades, according to reports.

Demetris Ioannides, chairman of MeritSevus, did not respond to The Guardian’s request for comment, but said: “The trustee’s most important responsibility is to protect the trust’s assets.”

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

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

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

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

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

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