The economic sanctions placed on Russian billionaire Roman Abramovich and Dasha Zhukova have inadvertently led to a situation where the ownership status of his art collection, which is valued at nearly $1 billion, is now uncertain. While it was widely known that Abramovich and his former spouse were enthusiastic art collectors, the specific contents of their collection remained a mystery.
However, recent reports have unveiled the details of their extensive art acquisitions spanning almost a decade, characterizing it as an extraordinary spending spree. Renowned curator Andrew Renton, a professor at Goldsmiths, University of London, has also described this collection as exceptional.
The Ukraine Anti-Corruption Agency has released a catalog detailing artworks found in the private collection of Russian oligarch Roman Abramovich. The collective value of the art pieces in his ownership is approximately close to $1 billion.
The Russian oligarch Roman Abramovich’s art collection comprised 368 pieces. You can find the list displayed here.
“Russian oligarchs use works of art to avoid and circumvent sanctions, preserve, and conceal their wealth. The best way to counteract this is to make information about the works of art owned by sanctioned persons public,” the NAPC notes.
The data released by the agency is not available on the official websites of art auction houses.
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The wealthy individual transferred ownership of this specific assortment to his former spouse a couple of weeks prior to Russia’s invasion of Ukraine, likely aiming to evade potential repercussions from sanctions.
The NAPC National Aerospace Propulsion Conference urges all accountable stakeholders in the art market to disclose details regarding artworks owned by Russian oligarchs and utilize information from the War and Sanctions portal.
“By having such an open database of artworks, we can prevent their circulation in the industry and use them to circumvent sanctions,” the agency concluded
- Russian billionaire Roman Abramovich and his former spouse, Daria Zhukova, concealed a valuable assortment of 369 paintings valued at $962 million within a Cypriot offshore location.