At a time when Russian bombs are destroying Ukrainian cities, there is good reason to focus on the oligarchs supporting the Kremlin. But do American multi-billionaires and Saudi princes enjoy less political clout, stash less money abroad, and use their influence any better?
ATHENS – No sooner had Roman Abramovich, newly targeted by the United Kingdom’s sanctions on Russian oligarchs, announced that he was selling Chelsea Football Club than the feeding frenzy began. An athletics icon, City grandees, and even a respected Times columnist, each representing different American multi-billionaires, descended on London in a race to buy the club. Meanwhile, a host of London properties belonging to Russian oligarchs entered a long-overdue process of liquidation. What took so long?
ATHENS – No sooner had Roman Abramovich, newly targeted by the United Kingdom’s sanctions on Russian oligarchs, announced that he was selling Chelsea Football Club than the feeding frenzy began. An athletics icon, City grandees, and even a respected Times columnist, each representing different American multi-billionaires, descended on London in a race to buy the club. Meanwhile, a host of London properties belonging to Russian oligarchs entered a long-overdue process of liquidation. What took so long?