June 23, 2023

Frozen Fortunes


Frozen Fortunes
Roman Abramovich. John Dobson, Wikimedia Commons.

Roman Abramovich, a Russian-born oligarch and politician, wants to donate £2.3bn (approximately $3bn) to war-affected Russian citizens. 

In March 2022, Roman Abramovich revealed plans to sell his British football club, Chelsea, and relinquish control to the board of trustees. Shortly before his decision, the European Union introduced its fourth round of sanctions, which encompassed Abramovich. Subsequently, Canada, Great Britain, and other nations imposed similar restrictions on the oligarch.

Abramovich eventually sold the football club one year ago for £2.3bn. During the sale, Abramovich's spokesperson stated he “wanted the proceeds to be transferred to a charitable foundation for the needs of the victims on both sides of the conflict between Russia and Ukraine.” However, due to existing sanctions against Russia for its aggression toward Ukraine, both the British government and the European Commission oppose this proposal.

The £2.3bn remains in a frozen UK bank account owned by Fordstam, a company under Abramovich's control, pending approval from the Foreign Office for its transfer. Strict regulations dictate that the funds can only be allocated to Ukrainian humanitarian purposes. Confirmed by sources within the UK Foreign Office, Secretary of State James Cleverly expressed uncertainty regarding the clearance of funds before the government's summer recess next month. Ministers are scheduled to resume in September.

“We want to make sure that the money that is released goes exclusively to the recipients it is aimed at. I need full reassurance that is the case," Cleverly said.
 

You Might Also Like

Patching the Holes
  • July 15, 2022

Patching the Holes

Russian lawmakers have been vigorously adding new laws in response to political and cultural developments and public protests, rather than due to pressure from the public or practical necessity.
Keep Your Taxes to Yourself
  • January 29, 2023

Keep Your Taxes to Yourself

The Russian parliament passed a bill that allows legislators to not disclose their tax returns to the public.  
Like this post? Get a weekly email digest + member-only deals

Some of Our Books

The Frogs Who Begged for a Tsar (bilingual)

The Frogs Who Begged for a Tsar (bilingual)

The fables of Ivan Krylov are rich fonts of Russian cultural wisdom and experience – reading and understanding them is vital to grasping the Russian worldview. This new edition of 62 of Krylov’s tales presents them side-by-side in English and Russian. The wonderfully lyrical translations by Lydia Razran Stone are accompanied by original, whimsical color illustrations by Katya Korobkina.
Fearful Majesty

Fearful Majesty

This acclaimed biography of one of Russia’s most important and tyrannical rulers is not only a rich, readable biography, it is also surprisingly timely, revealing how many of the issues Russia faces today have their roots in Ivan’s reign.
How Russia Got That Way

How Russia Got That Way

A fast-paced crash course in Russian history, from Norsemen to Navalny, that explores the ways the Kremlin uses history to achieve its ends.
A Taste of Russia

A Taste of Russia

The definitive modern cookbook on Russian cuisine has been totally updated and redesigned in a 30th Anniversary Edition. Layering superbly researched recipes with informative essays on the dishes' rich historical and cultural context, A Taste of Russia includes over 200 recipes on everything from borshch to blini, from Salmon Coulibiac to Beef Stew with Rum, from Marinated Mushrooms to Walnut-honey Filled Pies. A Taste of Russia shows off the best that Russian cooking has to offer. Full of great quotes from Russian literature about Russian food and designed in a convenient wide format that stays open during use.
A Taste of Chekhov

A Taste of Chekhov

This compact volume is an introduction to the works of Chekhov the master storyteller, via nine stories spanning the last twenty years of his life.
Jews in Service to the Tsar

Jews in Service to the Tsar

Benjamin Disraeli advised, “Read no history: nothing but biography, for that is life without theory.” With Jews in Service to the Tsar, Lev Berdnikov offers us 28 biographies spanning five centuries of Russian Jewish history, and each portrait opens a new window onto the history of Eastern Europe’s Jews, illuminating dark corners and challenging widely-held conceptions about the role of Jews in Russian history.
Survival Russian

Survival Russian

Survival Russian is an intensely practical guide to conversational, colloquial and culture-rich Russian. It uses humor, current events and thematically-driven essays to deepen readers’ understanding of Russian language and culture. This enlarged Second Edition of Survival Russian includes over 90 essays and illuminates over 2000 invaluable Russian phrases and words.
White Magic

White Magic

The thirteen tales in this volume – all written by Russian émigrés, writers who fled their native country in the early twentieth century – contain a fair dose of magic and mysticism, of terror and the supernatural. There are Petersburg revenants, grief-stricken avengers, Lithuanian vampires, flying skeletons, murders and duels, and even a ghostly Edgar Allen Poe.
At the Circus (bilingual)

At the Circus (bilingual)

This wonderful novella by Alexander Kuprin tells the story of the wrestler Arbuzov and his battle against a renowned American wrestler. Rich in detail and characterization, At the Circus brims with excitement and life. You can smell the sawdust in the big top, see the vivid and colorful characters, sense the tension build as Arbuzov readies to face off against the American.
Moscow and Muscovites

Moscow and Muscovites

Vladimir Gilyarovsky's classic portrait of the Russian capital is one of Russians’ most beloved books. Yet it has never before been translated into English. Until now! It is a spectactular verbal pastiche: conversation, from gutter gibberish to the drawing room; oratory, from illiterates to aristocrats; prose, from boilerplate to Tolstoy; poetry, from earthy humor to Pushkin. 
Turgenev Bilingual

Turgenev Bilingual

A sampling of Ivan Turgenev's masterful short stories, plays, novellas and novels. Bilingual, with English and accented Russian texts running side by side on adjoining pages.

About Us

Russian Life is a publication of a 30-year-young, award-winning publishing house that creates a bimonthly magazine, books, maps, and other products for Russophiles the world over.

Latest Posts

Our Contacts

Russian Life
73 Main Street, Suite 402
Montpelier VT 05602

802-223-4955