London’s “Red Square”, in the spotlight: how is the luxurious English quarter in which the palaces of the Russian oligarchs reign

Eaton Square in London

It is known that in recent decades England has become a hot spot for Russian oligarchs. Many are drawn to the English capital because of the abundance of luxury real estate, as well as the city’s hospitals and private schools, according to Bloomberg.

And one of the neighborhoods chosen by these millionaires, many of them were approved after the invasion he ordered Russian President Vladimir Putin To Ukraine, it’s Eaton Square Gardens, in central Belgravia in London, very close to Buckingham Palace. The area is also known as “Red Square” and the homes are worth no less than 10 million pounds. They are three blocks of majestic beauty.

According to a 2021 report by Knight Frank, cited by Business Insider, the capital of England has 870,000 millionaires, more than any other city in the world. There are more than 60 billionaires living there, too, with a net worth of more than $1 billion each, and a combined wealth of more than $30 billion, according to Forbes. Many members of this select group are Russian oligarchs, such as Roman Abramovich And the Oleg Deripaska, as well as to young entrepreneurs in that country, particularly in the technology sector. He also owns property there. Andrey GoncharenkoThe head of Gazprom.

It is one of the most expensive areas of the English capital
It is one of the most expensive areas of the English capital

They are neighbors in Eaton Square Gardens. The neighborhood dazzles with the luxury of its properties. ‘Eton Square was once the most expensive street in the UK, according to a survey by Lloyd’s Bank, quoted by The Guardian. It has also been described as London’s ‘most sought-after address’. The neighborhood is known for its neoclassical residences, which have become synonymous with the elite’old moneyLondon, “Business Insider” in detail.

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They live in the area Margaret ThatcherAnd the Sean ConneryAnd the Kate WinsletAnd the Elton John and three British prime ministers.

Roman Abramovich (Reuters/Andrew Winning)
Roman Abramovich (Reuters/Andrew Winning)

England encouraged the arrival of Russian business tycoons years ago when it granted special visas to those who invested more than two million pounds sterling. This scheme was abandoned after the invasion and the country imposed sanctions on Russian oligarchs – such as Gennady Timchenko, Boris Rotenberg, and Igor Rotenberg, with interests in the energy and infrastructure sector – as well as with various banks.

It is an embassy district, like the Bolivian one, and Margaret Thatcher, Sean Connery, Kate Winslet and Elton John lived in
It is an embassy district, like the Bolivian one, and Margaret Thatcher, Sean Connery, Kate Winslet and Elton John lived in

Today, in the meantime, theThe British government imposed more trade sanctions on Russia in response to its invasion of UkraineAnd the which include punitive tariffs on products such as vodka and a ban on the export of luxury goods. And the The European Union intends to punish Abramovich as part of the new package of sanctions coordinated with the Group of Seven against Russia.

Squatting in Eaton

Yesterday, a group of squatters took control of the palace in Eaton Square that belongs to a Russian oligarch approved by the British government for his connections to the Kremlin.

Squatters yesterday at Deripaska's home in Belgravia (Reuters/Peter Nichols).
Squatters yesterday at Deripaska’s home in Belgravia (Reuters/Peter Nichols).

Residents of the luxury property hung Ukrainian flags and banners with messages such as: “This property has been liberated.” According to local media, the seven-bedroom house is believed to belong to the businessman Oleg DeripaskaA close ally of Putin.

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“By occupying this palace, we want to show our solidarity with the Ukrainians, but also with the Russians who have never approved of this madness,” notes the squatters, who identify themselves as anarchists.

Oleg Deripaska
Oleg Deripaska

Deripaska, founder of mineral and hydropower company EN+, has been a target of US sanctions since 2018 as a result of his close relationship with Putin. The occupied home, which includes a movie theater, gym and Turkish sauna, was purchased through Ravello Limited, an offshore company of the Virgin Islands. The National Crime Agency (NCA) has requested the assets freeze of five bank accounts in the name of the oligarch following the invasion of Ukraine by Russian forces.

The occupiers told local media that their work was to “do the job” of the British Home Secretary. Priti Patelwho was asked to send Ukrainian refugees to live on the property.

With information from Bloomberg and EFE

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