Sanctions mean little for billionaires at Putin’s ‘have it like an oligarch’ party
Robbie Williams set to entertain tycoons at St Petersburg economic forum’s famous after-party
OLIGARCHS under Western sanctions were last night able to “party like a Russian” at Vladimir Putin’s annual business gathering, where they were due to enjoy a performance by Robbie Williams and the company of top European and US officials.
This week a foreign affairs committee report called on the UK Government to stop the influx of corrupt Russian money and Roman Abramov- ich, the Chelsea owner, had his visa reportedly held up until he explains how he made his billions.
But although Mr Abramovich is not expected to attend Russia’s answer to the Davos forum, several of his compatriots who have already been hit with Western sanctions will nonetheless be able to, in the words of Williams, “have it like an oligarch”.
Set in the scenic former imperial capital, the St Petersburg economic forum is a place for the rich and powerful to strike deals during the day, then dance all night at its famous after-parties. Williams was last night due to headline a 25th anniversary party for the Megafon mobile phone company, where he was likely to sing Party Like a Russian, about men who “alleviate the cash from a whole entire nation”.
The party is being thrown by Alisher Usmanov, the Arsenal stakeholder who owns two mansions in Britain and was named the UK’S eighth wealthiest resident in The Sunday Times rich list this month. This morning, Viktor Vekselberg, another billionaire, was due to appear on a “Russia-usa” panel about the obstacles to business between the two countries, something he has firsthand experience in after being hit with US sanctions last month.
Mr Vekselberg was reportedly questioned this year as part of the investigation into Donald Trump’s election campaign ties to Russia and was linked to a company that paid Mr Trump’s lawyer half a million dollars.
Jon Huntsman Jnr, the US ambassador to Russia, was set to participate in the panel with the oligarch before he cancelled last week, although he said he would still attend the forum. Other forum participants sanctioned by the US include Vladimir Bogdanov, the billionaire director of Surgutneftegas oil company, and Kirill Shamalov, whose fortunes skyrocketed after he reportedly wed Mr Putin’s daughter.
Igor Sechin, the head of state oil giant Rosneft and former key aide to Mr Putin, will give a talk on energy. He was hit with US sanctions in 2014 but has nonetheless maintained a lavish lifestyle, say Russian media reports.
The highlight of the forum will be speeches by Mr Putin, Shinzo Abe, the Japanese prime minister, and Emmanuel Macron, the French president, this afternoon. Mr Macron is expected to seek his Russian counterpart’s help in salvaging the Iran nuclear deal after the US withdrawal.
Among those accredited to attend Mr Macron’s talk is Sergei Chemezov, the head of the state technology and defence corporation Rostec and an old KGB friend of Mr Putin who was sanctioned by the European Union in 2014.
It remains unclear whether Oleg Deripaska, one of the biggest losers from April’s sanctions, will come to the forum. Vedomosti newspaper reported this week that he would not attend and had cancelled the gathering he traditionally hosts, but his name later appeared on a list of participants.
Public companies controlled by Mr Deripaska lost £4.5 billion in market after he was blacklisted by the US.