
A British court ruled on Thursday that Russian oligarch Mikhail Fridman cannot spend thousands of pounds a month to maintain his London mansion, which contains an art collection worth $53.2 million, and that he cannot return to Britain, Reuters reported.
The decision at the High Court in London came after Freedman sued OFSI, Britain’s Financial Sanctions Authority, after it refused to allow him to spend £30,000 a month to prevent damage to Athlone House, a property he bought for 65 million pounds.
The 59-year-old oligarch also asked to be able to spend £1,850 a month on the property’s communications system, saying it regulates the mansion’s security system as well as heating, lighting, telephones and IT systems.
Russian oligarch called real estate with “special needs”
Friedman’s lawyers argued that Athlone House was a “unique property with unique needs”, some of which related to the art collection it housed.
Friedman also wanted to be allowed to pay employees other than those who provided his protection. He asked to be allowed to hire a driver, which OFSI refused, citing that the oligarch could use public transport.
But he dropped the plea shortly after leaving the UK for Israel ahead of last week’s hearing.
OFSI said it had already allowed Freedman to settle his arrears and make other one-off payments of £1.4m, as well as future annual payments of up to £760,000.
Justice Pushpinder Saini on Thursday dismissed a case brought by Friedman’s lawyers against OFSI, ruling that the finance ministry’s decisions were made in accordance with the law.
Mykhailo Fridman will not be able to return to London
Freedman’s lawyers told the judge that their client wanted to return to Britain, but Saini said in his ruling that this “would not be possible” because he was subject to a travel ban.
A UK government spokesman welcomed Thursday’s decision, saying it showed “our financial sanctions system is working”.
Friedman, whose fortune Forbes estimates at $12.8 billion, was put on the sanctions list by Britain last March, less than a month after the start of Russia’s invasion of Ukraine.
He came to international attention after complaining after the sanctions that the West had forgotten his good deeds and that he was living in London on just €2,500 a month. He later described the situation as “practically” under house arrest.
Although he has repeatedly condemned the launch of the Russian invasion, an investigation published by Radio Free Europe this May revealed that his various companies in Russia are financing the country’s military effort.
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Source: Hot News

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