It doesn't get any cheekier than this

Abramovich evaded millions with luxury yachts

A data leak brings dark secrets of the Russian Roman Abramovich to light.

(Bild: Krone KREATIV/stock.adobe APA/AFP/OZAN KOSE)

The Russian oligarch Roman Abramovich (58), who was sanctioned due to his relationship with warlord Vladimir Putin, may have evaded millions in taxes with a complex offshore structure. He is likely to have handled this via his luxury yachts, in particular the "Eclipse".

"Na sdorowje!" When the Russians let it rip, there are no limits. Accordingly, things got hot on Abramovich's beloved "Eclipse", the longest superyacht in the world at the time of purchase. One and a half soccer pitches long and equipped with 24 guest cabins, two swimming pools, two helipads, a cinema and a disco, it has everything party animals could wish for. The noble watercraft is estimated to cost between 300 and 800 million euros.

How to save money while splashing out
Guests such as George Lucas and Harvey Weinstein have been invited to these glorious celebrations. In the middle of the Caribbean, they sipped the most expensive champagne and were served sandwiches with caviar. The Red Hot Chili Peppers provided a pleasant backdrop to the atmosphere - live, of course.

The exorbitant costs incurred are likely to have been literally circumvented with a sophisticated system, according to leaked documents obtained by the International Consortium of Investigative Journalists. Media outlets such as the Guardian and the BBC analyzed them - and the results are quite something.

The "Eclipse" is currently in Turkey (archive image).

(Bild: APA/AFP/fatih Cetin)

Confusion surrounding the braid
The "Eclipse" was built by the Hamburg shipyard Blohm & Voss in the 2000s. During the same period, the Russian is said to have purchased a further four luxury yachts. They are said to have been financed via various letterbox companies using various offshore companies. This made it possible to conceal the true owners and avoid tax payments.

Some of these companies bought the yachts, others managed them. Others rented them out. What all these companies have in common is their owner: Abramovich. The "Eclipse" is said to have been officially rented by a company in the British Virgin Islands. The fictitious contracts were used to evade VAT obligations, even though the Russian demonstrably used the yacht for private purposes, such as for lavish celebrations.

The refueling was also not done properly. If ships are used commercially, they do not have to pay fuel tax in the EU. The leaked email correspondence shows that attempts were always made to provide appropriate evidence. On one occasion, for example, a rental contract was not submitted on time. A warning was promptly issued: there was a risk of jeopardizing the tax savings of 44,000 dollars (approx. 42,000 euros) for just one full tank of fuel.

This is what Abramovich says about the accusations 
Since the EU imposed sanctions against Russian oligarchs, Abramovich has given the international community a wide berth. All Abramovich had to say about the accusations through his lawyers was: He had always relied on his tax and legal advisors and had never willfully deceived the authorities. In any case, the beloved "Eclipse" is "safe" and anchored off the Turkish coast. This means that the European authorities cannot take the Russian's beloved luxury vessel away from him.