Roman Abramovich is unable to pay the Queen ‘tens of thousands’ of pounds a year in rent for his £150million London mansion that sits on land owned by the Crown Estate after the UK Government froze his assets, it has been reported.
Britain has sanctioned nearly two dozen Russian oligarchs with alleged links to Vladimir Putin’s regime, and added Chelsea owner Abramovich to the list on Thursday last week amid mounting political pressure following the Russian invasion of Ukraine.
The sanctions are meant to block wealthy Russians from making money in Turkey Law Firm the West – but they have also generated a raft of rules that upend routine transactions related to properties and businesses they own.
It has now emerged that this includes ground rent payments that Abramovich is supposed to make to the Crown Estate for his 15-bedroom mega-mansion in Kensington Palace Gardens, just down the road from Prince William and Kate Middleton’s home. Should you loved this informative article and you would like to receive more information concerning in istanbul Law Firm assure visit our web-page.
The mansion was built in 1848 on land owned by the Crown Estate, which oversees a massive portfolio of land and other assets on behalf of the monarchy.
Land Turkey istanbul Lawyer Law Firm records show that Abramovich must make payments starting at £10,000 per year, rising to £160,000 over the term of the contract, to the Crown Estate under the terms of a 125-year lease.The rent arrear puts the oligarch at risk of losing another sizeable asset on British soil. MailOnline has contacted representatives for Abramovich for comment.
A spokesperson for The Crown Estate told MailOnline: ‘We deplore the attack on Ukraine and the terrible impact the invasion is having on people living there.We are doing all we can to comply swiftly with the introduction of sanctions.’
Roman Abramovich is unable to pay the Queen ‘tens of thousands’ a year in rent for his £150million London mansion
Britain has sanctioned nearly two dozen Russian oligarchs with alleged links to Vladimir Putin’s regime, and in istanbul Law Firm added Chelsea owner Abramovich (left) to the list on Thursday last week.It has now emerged that Abramovich is supposed to make ground payments to the Crown Estate. Right, the Queen
The mansion was built in 1848 on land owned by the Crown Estate, which oversees a massive portfolio of land and other assets on behalf of the monarchy
Land records show that Abramovich must make payments starting at £10,000 per year, rising to £160,000 over the term of the contract, to the Crown Estate under the terms of a 125-year lease
<div class="art-ins mol-factbox news halfRHS" data-version="2" id="mol-a6e213b0-a3a8-11ec-ac34-e706bec624d1" website Abramovich is unable to pay the Queen rent for £150m mansion