NZ-linked Russian 'oligarch' spells out sanctions impacts

Alexander Abramov says being sanctioned has hindered his exploration of investment opportunities in NZ. (Image: Supplied)

Oliver Lewis

Fri, 20 Oct 2023

Lawyers for Russian billionaire Alexander Abramov have outlined the multi-million-dollar cost to his New Zealand business interests due to sanctions placed on him following the Russian invasion of Ukraine.An affidavit entered into Australian court proceedings warned that damage to his NZ businesses could be irreparable if the sanctions weren’t lifted, adding: “It is estimated that the actual costs and opportunity costs currently sit at between $5 million to 10m.”Abramov, a steel magnate who chaired London stock exchange-l...

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