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

Faith & Humor: Notes from Muscovy

Faith & Humor: Notes from Muscovy

A book that dares to explore the humanity of priests and pilgrims, saints and sinners, Faith & Humor has been both a runaway bestseller in Russia and the focus of heated controversy – as often happens when a thoughtful writer takes on sacred cows. The stories, aphorisms, anecdotes, dialogues and adventures in this volume comprise an encyclopedia of modern Russian Orthodoxy, and thereby of Russian life.
Tolstoy Bilingual

Tolstoy Bilingual

This compact, yet surprisingly broad look at the life and work of Tolstoy spans from one of his earliest stories to one of his last, looking at works that made him famous and others that made him notorious. 
Life Stories: Original Fiction By Russian Authors

Life Stories: Original Fiction By Russian Authors

The Life Stories collection is a nice introduction to contemporary Russian fiction: many of the 19 authors featured here have won major Russian literary prizes and/or become bestsellers. These are life-affirming stories of love, family, hope, rebirth, mystery and imagination, masterfully translated by some of the best Russian-English translators working today. The selections reassert the power of Russian literature to affect readers of all cultures in profound and lasting ways. Best of all, 100% of the profits from the sale of this book are going to benefit Russian hospice—not-for-profit care for fellow human beings who are nearing the end of their own life stories.
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.
The Samovar Murders

The Samovar Murders

The murder of a poet is always more than a murder. When a famous writer is brutally stabbed on the campus of Moscow’s Lumumba University, the son of a recently deposed African president confesses, and the case assumes political implications that no one wants any part of.
Woe From Wit (bilingual)

Woe From Wit (bilingual)

One of the most famous works of Russian literature, the four-act comedy in verse Woe from Wit skewers staid, nineteenth century Russian society, and it positively teems with “winged phrases” that are essential colloquialisms for students of Russian and Russian culture.
Russian Rules

Russian Rules

From the shores of the White Sea to Moscow and the Northern Caucasus, Russian Rules is a high-speed thriller based on actual events, terrifying possibilities, and some really stupid decisions.
Davai! The Russians and Their Vodka

Davai! The Russians and Their Vodka

In this comprehensive, quixotic and addictive book, Edwin Trommelen explores all facets of the Russian obsession with vodka. Peering chiefly through the lenses of history and literature, Trommelen offers up an appropriately complex, rich and bittersweet portrait, based on great respect for Russian culture.
The Moscow Eccentric

The Moscow Eccentric

Advance reviewers are calling this new translation "a coup" and "a remarkable achievement." This rediscovered gem of a novel by one of Russia's finest writers explores some of the thorniest issues of the early twentieth century.
The Latchkey Murders

The Latchkey Murders

Senior Lieutenant Pavel Matyushkin is back on the case in this prequel to the popular mystery Murder at the Dacha, in which a serial killer is on the loose in Khrushchev’s Moscow...

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