Ukraine creates database of artworks owned by Russians under sanctions
The National Agency on Corruption Prevention has created a database that will help track violations of anti-Russian sanctions in operations on the art market.
Source: press office of the National Agency on Corruption Prevention
The circulation of art products bought or sold by Russians subject to sanctions can be tracked in the War and Art section of the War and Sanctions website.
This section contains a database of art objects owned by Russians under sanctions, or that have been sold or bought by them since 2014. These items can be used for money laundering and sanctions evasion.
Quote: "Russian oligarchs, despite the sanctions imposed on them, can still easily hide and launder their money through art objects. Painting, sculptures, artistic jewelry – this is exactly what is used as a loophole to circumvent sanctions," the National Agency on Corruption Prevention writes.
Currently, the database contains information on more than 300 art objects. Among the owners are rapper Timur Yunusov (Timati), oligarchs Dmitry Rybolovlev, Roman Abramovich, Mikhail Fridman, Oleg Deripaska, model and Abramovich's ex-wife Daria Zhukova, and other individuals who are under sanctions for aiding the war waged by the Russian Federation in Ukraine.
Salvator Mundi by Leonardo da Vinci, the most expensive painting in the world, can be found among the works of art on the list. In 2013, Russian oligarch Dmitry Rybolovlev bought it for US$79 million and put it up for sale in 2017. Then, the da Vinci painting set a record – it was sold for US$450.3 million.
Also in Rybolovlev's possession were other paintings from the list of the most expensive paintings in the world – Otahi by Paul Gauguin (he sold it in 2017, losing US$70 million during the sale), No. 6 (Violet, Green and Red) by Mark Rothko.
There is the Water Lily Pond painting by Claude Monet, purchased by Russian Andrey Melnychenko for US$80.5 million. And Triptych by Francis Bacon and Benefits Supervisor Sleeping by Lucian Freud, which were bought by Roman Abramovich for US$86.3 and US$33.6 million, respectively.
The National Agency on Corruption Prevention said that it collects information about works of art related to Russians from open sources. And since Russians under sanctions try to hide that they own such assets, the data can change and be updated during the verification process.
Currently, the War and Art section is in the stage of filling and improvement, soon the National Agency on Corruption Prevention promises to add filtering functions by categories, etc. It is also possible to report an art object owned by Russians by filling out a form on the portal.
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