Putin gets richer in apartments: the Kremlin bought 255 apartments in an elite area of London, – media
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In 2006, the Russian authorities bought apartments in the center of the British capital through an offshore company. The author of this scheme was a banker who was fired from the European Bank for Reconstruction and Development for taking a bribe.
Russian President Vladimir Putin could earn hundreds of millions of pounds renting apartments in a luxury residential complex in an elite area of London. The British tabloid Daily Mail writes about this, citing land registry documents.
Russian authorities are equipping 255 apartments in Kensington, an area in the western part of central London, which were bought in 2006 for 8 million pounds through an offshore company. Profits from their rent will be used to repair the Kremlin, the journalists noted.
Documents show that the Foreign Ministry and the State Bank of Russia bought the building land at 245 Warwick Road, Kensington.
According to the publication, the Kremlin can turn investments into hundreds of millions of pounds. Elsewhere in central London, the Kremlin owns at least 12 flats and houses. The total portfolio is valued at £100 million.
The Russian Embassy did not respond to a request for comment. The news that Moscow is cashing in on UK real estate speculation will inevitably cause alarm, the tabloid said.The UK Treasury has identified a Moscow banker who was developing schemes for the Kremlin with real estate in London. This is Elena Kotova, who appears in the planning applications.