By Pavel Kanygin
A Vast Empire of Wealth
Roman Abramovich, widely regarded as a close ally of President Vladimir Putin, remains a dominant figure in global business circles. He is the principal owner of Millhouse and holds significant stakes in companies such as Evraz, Norilsk Nickel, Yandex, Renaissance Insurance, and the online streaming platform ivi. Calculating his extensive property holdings is a daunting task, given the sheer scale of his global real estate portfolio. In addition to these assets, his collection of luxury vehicles, multiple private jets, and a fleet of yachts—including the once record-breaking superyacht Eclipse—stand as testaments to his vast wealth.
Sanctions and Citizenship
Beyond his Russian citizenship, Abramovich also holds Portuguese and Israeli passports. Since the spring of 2022, he has faced sanctions from the United Kingdom, the European Union, Canada, Australia, and several other nations. These measures were imposed on accusations of being a “Russian oligarch with long-standing, close links to Vladimir Putin,” allegations he vehemently denies and is contesting in court. The sanctions led to a significant financial and emotional blow: the forced sale of Chelsea Football Club. Abramovich had invested both substantial capital and personal passion into the club, even pledging to dedicate the proceeds from its sale to aid victims of the war in Ukraine.
Mediator in Conflict
Notably, Ukrainian President Volodymyr Zelensky requested that sanctions against Abramovich be withheld. At the onset of the conflict, Abramovich participated in direct negotiations between Russian and Ukrainian delegations in Istanbul. He later engaged with Turkish President Recep Tayyip Erdoğan and Foreign Minister Mevlüt Çavuşoğlu, who played pivotal roles in arranging these discussions. The Kremlin acknowledged his role in “facilitating certain contacts between the Russian and Ukrainian sides.” However, his mediation efforts ultimately failed to yield a lasting resolution.
Relocation to Istanbul
By December 2022, Abramovich had relocated to Istanbul, renting a mansion along the Bosphorus for a reported $50,000 per month. His collection of yachts, valued at over $1 billion, now lies anchored along the Turkish coast. Rarely seen in Moscow these days, Abramovich appears to adhere to a guiding principle: “Keep your head down and stay out of sight.”
A Watchful Exile
Whether this low-profile strategy will protect his business interests and reputation amid shifting geopolitical dynamics remains uncertain. It is equally unclear if his prolonged absence will attract the disfavor of Russian authorities. For now, Abramovich watches and waits, navigating an uncertain future from his quiet exile.
