NewsLocalCyprus-registered shell companies behind purchase of seized planes owned by Russia's Abramovich

Cyprus-registered shell companies behind purchase of seized planes owned by Russia’s Abramovich

Both planes belonging to Russian oligarch Roman Abramovich and seized by US authorities earlier this week were registered through a series of shell companies in Cyprus, Jersey and the British Virgin Islands.

The oligarch’s shell companies registered in Cyprus are Finservus (Trustees) Limited and an associated one called  International Trust (Trust) “The Europa Settlement Trust”.

These two are behind the purchase of the two planes – a Gulfstream and a Boeing 787-8 Dreamliner which is believed to be one of the most expensive private planes in the world.

Three more shell companies, registered in Jersey and the British Virgin Islands were also behind the purchase of planes’ transaction, according to according to an FBI agent’s affidavit to support the seizure warrant.

Earlier in the week, a US judge approved the seizure of the two private planes, valued at more than $400 million, for violating US export and sanctions laws.

The American-made planes were flown into and out of Russia without obtaining licenses from the US Commerce Department.

Airplanes and aircraft parts are subject to export rules because of their potential military use and national security implications.


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