Alexander Frolov, Igor Shuvalov and Vladimir Potanin own properties via BVI, Cyprus and Russia
Three Russian oligarchs under sanctions are among those to declare they own more than £35m of UK property through the British Virgin Islands, Cyprus andAlexander Frolov, a billionaire and associate of Roman Abramovich, is revealed as the owner of a mansion in Weybridge in Surrey bought for £9.8m in 2008 and a flat in Knightsbridge bought for £15.4m via the BVI.
His ownership was previously alleged in 2015 by the opposition politician Alexei Navalny. According to an investigation by Navalny’s Fund for the Fight Against Corruption, Shuvalov turned the two flats into a 500 sq metre luxury apartment. Asked about Shuvalov’s ownership of the flats and why they were held through a company, a spokesperson for VEB said: “Given the current state of affairs between Russia and the west and taking into consideration the questions posed, one cannot expect the inquiry and following publication to be unbiased.
Another property is listed on the register as being ultimately owned by Vladimir Potanin, known as the “Nickel King” and believed to be one of Russia’s richest businessmen.
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