Russian oligarch, Roman Abramovichtried to protect his fortune by giving several billion dollars to his children before it was given to him sanctionsin retaliation for the Russian invasion of Ukraine, according to information published today by the British newspaper The Guardian.

Abramovich’s ten trusts were reorganized in early February 2022, just weeks before Russia’s invasion of Ukraine, according to documents available to the newspaper. With these amendments, the seven children of Abramovich – the youngest is 9 years old – became beneficiaries of a large amount of money, at least $ 4 billion.

This transfer was not illegal.

Abramovich’s assets included real estate, yachts, helicopters and private jets. It will now be difficult to confiscate or freeze him, since his children are not subject to sanctions. The authorities will have to prove that the billionaire is the one who actually controls them.

The documents cited by the publication appeared as a result of a hacking of a financial company that managed Abramovich’s assets in Cyprus.

In March 2022, the European Union and the UK placed Abramovich on a list of individuals subject to sanctions due to his close ties to the Russian regime. However, the United States did not sanction him, a fact decried by imprisoned Russian dissident Alexei Navalny, who claims his companies “continue to supply metals to the Russian Ministry of Defense.” Last June, the US seized only two planes belonging to Abramovich because they were used to circumvent sanctions against Russia.

In September, the oligarch played a role in the release of five Britons held captive by Russians in Ukraine. One of them said that Abramovich was on the plane on which they flew from Russia.

^{Source: APE-MEB, AFP.}