A group of British lawmakers has urged an investigation into Russian billionaire Roman Abramovich’s offshore financial dealings, following revelations that his companies may have evaded up to $1.24 billion in taxes owed to the United Kingdom. The allegations stem from leaked documents analyzed by the BBC, The Guardian, and the Bureau of Investigative Journalism (TBIJ), which suggest that Abramovich’s offshore investments, amounting to $6 billion, were managed by a UK-based executive, making them potentially liable for taxation under British law.

Abramovich, who has been sanctioned by both the UK and the EU since Russia’s invasion of Ukraine in 2022, reportedly funneled billions into hedge funds via an elaborate offshore structure. The returns from these investments were allegedly used to sustain various segments of his business empire, including Chelsea Football Club, which he was forced to sell in 2022.

Central to the controversy is Eugene Shvidler, a British citizen since 2010, long described as Abramovich’s “right-hand man.” According to the leaked documents, Shvidler played a crucial role in managing the offshore investments. Under UK tax law, a company is considered a tax resident if its central management and decision-making occur within the country, regardless of where it is registered. The investigation suggests that Shvidler, as the key decision-maker, may have inadvertently established Abramovich’s companies as taxable entities in the UK.

Labour MP Joe Powell, head of a parliamentary group on fair taxation, formally called for an inquiry into the matter. In a letter to HM Revenue & Customs (HMRC), Powell emphasized the importance of investigating whether Abramovich’s companies had indeed bypassed tax obligations and demanded recovery of any unpaid........

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