THE SANCTIONED OLIGARCH’S SON AND A £160 MILLION LONDON PROPERTY EMPIRE

On 24 May, the Guardian carried an article claiming that Said Gutseriev, a 34-year-old businessman with British and Russian nationality, appears to have spent years amassing a collection of at least 7 properties in central London.  He is the son of a Russian billionaire, Mikhail Gutseriev, sanctioned for supporting President Lukashenko of Belarus.  6 of the properties were acquired between 2004 and 2012, when Said was either at school or university, or was just starting his career at commodities trader Glencore.  Said attended £14,500 a term Harrow school before studying at Oxford.  A spokesperson for Said Gutseriev said he has no financial or commercial links to his father, and always acts in accordance with applicable law, including on sanctions.  The article says that the information about assets linked to him in the UK raises questions about whether sanctions should apply to family members.

https://www.theguardian.com/business/2022/may/24/the-sanctioned-oligarchs-son-and-a-160m-london-property-empire

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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