January 28, 2025

Abramovich, the Yachts and the Tax Dodge

42 minutes

With the billions he made at the expense of Russian taxpayers, Roman Abramovich bought six luxury superyachts over the years. Among them were the 162-metre-long Eclipse, with swimming pools, helipads and a missile defence system - and the Pelorus - sometimes lent to Chelsea footballers.

They could each cost up to one and a half million dollars just to re-fuel. If they’d been declared as being for his own personal use, VAT would have been payable on costs like that. Instead, for more than a decade, tax authorities were led to believe the superyachts were being rented out to commercial customers.

Financial investigations correspondent Andy Verity working with The Bureau of Investigative Journalism and The Guardian discovers that the firms renting the boats ultimately belonged to a trust held by - Roman Abramovich. Under the scheme devised for him, the sanctioned oligarch was hiring out his superyachts - to himself. Mr Abramovich has denied either directing or knowing of any deception.

Reporter: Andy Verity

Producer: Paul Grant

Editor: Richard Vadon

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