Real estate of three Russians from the sanctions list was found in London
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The British authorities found real estate in the country belonging to Russian businessmen Igor Shuvalov, Vladimir Potanin and Alexander Frolov. All of them are under sanctions in Great Britain, but the real estate is registered to foreign companies, which are linked to the Russians as the main beneficiaries. The total value of the real estate is about 35 million pounds.
It became possible to find British assets of Russian oligarchs through the register of foreign real estate owners. This registry was created in August 2022 to prevent possible money laundering. Foreign companies are obliged to declare their real estate and disclose the names of the ultimate beneficiaries. The deadline for submitting the summary is January 31, that is, last Tuesday. On Wednesday, data was disclosed, including about the property of Russians.
The register specifies that companies in Cyprus, the British Virgin Islands and Russia, associated with Russians included in the sanctions list, own prestigious real estate in London and its surroundings. Chairman of Vnesheconombank and former Deputy Prime Minister Ihor Shuvalov owns an apartment in the British capital with an area of about 500 square meters. The owner of “Interros” Vladimir Potanin – an office building in the City of London. The co-owner of “Evraz” Alexander Frolov has a mansion in the town of Weybridge near London and an apartment in the London district of Knightsbridge.
There are no comments from Shuvalov, Potanin and Frolov yet.
At the same time, as Reuters points out, the register does not contain information about the real estate of Roman Abramovich, against whom sanctions were also imposed after the start of full-scale Russian aggression in Ukraine. According to the agency’s estimates, there are a number of loopholes in the register that allow avoiding the disclosure of the names of the owners of assets: about a third of the companies registered in it did not identify the direct beneficiaries.
According to the BBC, about a dozen Russians close to Vladimir Putin and subject to sanctions own property in Great Britain worth approximately 800 million pounds (more than a billion US dollars).
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