Roman Abramovich offloading London homes: British MP

[LONDON] ROMAN Abramovich is selling his London properties, according to British MP Chris Bryant. "He's terrified of being sanctioned, which is why he's already going to sell his home tomorrow and sell another flat as well," the member of Britain's opposition Labour Party said in a speech to Parliament.

While the UK has sanctioned more than 100 Russian individuals and entities in response to the invasion of Ukraine, Abramovich has so far remained off the list. Since then, the Russian billionaire, who in addition to UK real estate owns Chelsea Football Club, has been under increasing pressure from the nation's politicians. On Saturday, Abramovich handed direct control of the club to the trustees of its charitable foundation, and suiters were said to be on high alert over a possible sale. Bryant has said Abramovich shouldn't be allowed to own an English football club.

Abramovich, with a net worth estimated at US$13.5 billion by the Bloomberg Billionaires Index, owns several homes in London. The property Bryant was referring to is believed to be a 5-bedroom mansion at Kensington Palace Gardens valued at more than 150 million pounds (S$270 million), the Times reported. The flat could be a 3-storey penthouse at Chelsea Waterfront that he bought in 2018 for 22 million pounds, the newspaper said. On Monday, Abramovich's spokesperson said he was trying to help broker an end to the war in Ukraine. BLOOMBERG