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Roman Abramovich’s London Empire Unravels as Sanctions Bite

The Russian billionaire’s UK assets have either been sold or frozen since Vladimir Putin’s invasion of Ukraine.

Roman Abramovich applauds from the stand during a Chelsea match at Stamford Bridge in London.

Roman Abramovich applauds from the stand during a Chelsea match at Stamford Bridge in London.

Photographer: Clive Rose/Getty Images 

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Roman Abramovich’s cream-colored Kensington mansion has more than a dozen bedrooms and police vans posted at each end of its tree-lined street. Nearby neighbors include British royals, steel magnate Lakshmi Mittal and Warner Music Group owner Len Blavatnik.

It’s one of several London assets the Russian billionaire acquired in recent decades that have helped make the city the hub of his fortune. But that foothold has proven tenuous in recent months as his prize possessions in the English capital — from Chelsea Football Club to luxury homes to a stake in London-based steel group Evraz Plc — have been sold or frozen following Russia’s invasion of Ukraine.