London’s High Court refused a request from businessman Mikhail Fridman to authorize an additional 30,000 pounds monthly for maintaining his residence, Athlone House. The ruling, based on the written judgment of Justice Pushpinder Saini, was reported by Reuters.
Earlier, Britain’s Office of Financial Sanctions Implementation (OFSI) had declined to issue extra licenses covering the costs of running the mansion. Fridman sought 30,000 pounds per month for upkeep, alongside 1,850 pounds (about 2,243 dollars) for telephone services, audio and television equipment, heating, and lighting.
During the hearing, Fridman’s legal team said the businessman hoped to return to England. The judge stated that a return would not be possible given an effective entry ban against him.
A UK government spokesperson welcomed the decision, noting that it demonstrated the effectiveness of the financial sanctions compliance regime.
Fridman’s lawyers argued that Athlone House is a unique property, especially because of the art collection housed there, with the collection potentially valued up to 44 million pounds (roughly 53.2 million dollars).
The entrepreneur reportedly purchased the mansion for 65 million lira.
“Oligarch with no money”
Fridman had previously asked OFSI for permission to spend on non-security staff, including drivers, but was rejected on the grounds that he could rely on public transportation.
The Russian billionaire, whose fortune Forbes estimated at 12.8 billion dollars, has been under sanctions since March 2022. He later described his situation as being in a “strange position of an oligarch with almost no money.”
On September 19, the United Kingdom tightened sanctions by banning his ships from UK ports and barring planes from landing at British airports.
Homecoming
In October, Fridman moved from Britain to Israel, but he was compelled to fly to Russia shortly after due to the Hamas movement’s large-scale conflict.
“I moved to Israel a week ago. Now, due to the current situation, I flew to Moscow. When things settle, I plan to return to Israel and live there permanently,” he told Bloomberg.
Commenting on Fridman’s return, Russian President Vladimir Putin suggested that if the majority of citizens view his actions as immoral against the Russian Federation, he would feel the consequences.
Putin also asserted that if Fridman does not breach Russian law, no investigation would be opened. “We have a free country. A person has the right to choose his place of residence as he sees fit. There are no restrictions here. I do not see anything immoral in this,” the Russian leader added.
Notes: The reporting reflects ongoing developments in sanctions policy and the evolving status of individuals subject to those measures. The information is drawn from court records and official statements as reported by Reuters and Bloomberg. (Citations: Reuters, Bloomberg)