• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation

3

Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation

3

Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
Russia
Europe

U.K. refuses sanctioned Russian billionaire’s request to hire a personal driver because he can take the bus

Ryan Hogg
By
Ryan Hogg
Ryan Hogg
Europe News Reporter
Down Arrow Button Icon
Ryan Hogg
By
Ryan Hogg
Ryan Hogg
Europe News Reporter
Down Arrow Button Icon
October 18, 2023, 6:34 AM ET
Mikhail Svetlov—Getty Images
Add Fortune on Google for similar content.

A Russian billionaire who quit the U.K. last month was refused the use of a personal driver after Britain’s high court said he was able to use public transport.

Recommended Video

Mikhail Fridman, one of the cofounders of Alfa Group, is fighting U.K. sanctions in court a month after leaving Britain to reside in Israel, saying he couldn’t continue living under the country’s sanctions. 

He has since fled back to Moscow following Hamas’s attack on Israel.

Fridman, alongside his former business partner Petr Aven, was sanctioned by the U.K. and the EU in the wake of Russia’s invasion of Ukraine. Fridman and Aven founded Alfa Group, which owns Russia’s largest private bank. 

In the time Fridman resided in the U.K. under sanctions, he fought several battles with the country’s high court to gain access to living costs while pushing to distance himself from any ties to Russian President Vladimir Putin. 

Fridman said his London mansion, Athlone House, was searched illegally by 50 officers wearing body armor and helmets last December, Bloomberg reported.

He also alleged the National Crime Agency misled judges using “kompromat,” or “damaging and untrue information assembled and used to create negative publicity and to exert influence over the subject,” Bloomberg reported Fridman’s lawyer as saying.

In September, the U.K. withdrew its labeling of Fridman as a “pro-Kremlin oligarch,” but continued sanctioning him under updated terms related to his ties to Alfa Group, in part based on evidence gained in the raid on his home.

Extensive concessions

Fridman, who is worth an estimated $12.2 billion, has also enjoyed extensive concessions that allowed him to continue living in Athlone House, his £65 million ($79.3 million) mansion in the affluent North London suburb of Highgate. 

Athlone House, the London home of Russian billionaire Mikhail Fridman.

In July, the New York Times reported that Fridman was provided a license for 19 staff including drivers and private chefs, amounting to $400,000 over 10 months. 

The Times also reported that Fridman received $7,000 per month for family allowances.

In total, he has been allowed expenses of £1 million ($1.2 million) to cover basic expenses, a lawyer for the government told Bloomberg.

Aven, his former business partner, was granted a license for a monthly allowance of £60,000 ($73,200), the Times reported. At the time, the paper questioned the U.K. policy that allowed concessions for sanctioned individuals if it aided the country’s economy—an approach that diverges from U.S. policy.

Struggles over further expenses

However, according to court documents seen by Bloomberg and Reuters, Fridman has since struggled to gain licenses for further expenses. 

On Tuesday, Fridman challenged the U.K. over its decision to refuse him a fresh license for a £30,000 ($36,500) management fee to cover extensive maintenance costs for Athlone House.

He also requested fees for non-security staff in addition to audio and TV equipment and an internal phone line. The legal filing reviewed by Bloomberg indicated Fridman suffered a “security incident” at his mansion in September.

Fridman’s lawyer said he was also refused a license to pay for a personal driver “on the basis that the defendant is able to travel by public transport,” Bloomberg reported.

Fridman didn’t specify how much of his requests for audio and TV equipment were related to entertainment versus security, according to court documents shared with Fortune. 

The argument added that giving Fridman permission to cover more expenses would allow him to live a life very similar to that before he was sanctioned.

In July, a lawyer for Fridman told a European court the financier’s life had been “destroyed” by sanctions, Bloomberg reported.

In February, Ilya Yashin, an opposition politician jailed by the Kremlin, pleaded with EU and U.K. officials from his prison cell for sanctions against Fridman to be lifted.

Yashin said Fridman “interacted with the state, but nevertheless never compromised his reputation by participating in the current Russian government’s political projects.”

The U.K. government didn’t immediately respond to Fortune‘s request for comment.

About the Author
Ryan Hogg
By Ryan HoggEurope News Reporter

Ryan Hogg was a Europe business reporter at Fortune.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in

Current price of gold as of July 22, 2026
Personal Financegold prices
Current price of gold as of July 22, 2026
By Danny BakstJuly 22, 2026
1 hour ago
t
CommentaryTariffs
Trump’s third tariff tantrum piles more dizzying distractions on top of ever-spiraling failures
By Jeffrey Sonnenfeld and Steven TianJuly 22, 2026
1 hour ago
orson
CommentaryOpenAI
We got California to intervene about OpenAI’s corporate switch from nonprofit status. It’s time for the SEC to come to the table
By Orson Aguilar and Catherine BracyJuly 22, 2026
2 hours ago
A woman observes stock trends on her smartphone while a computer screen displays financial graphs.
NewslettersCFO Daily
Beyond SpaceX: Why great IPOs depend on more than first-day demand
By Sheryl EstradaJuly 22, 2026
2 hours ago
Arrakis cofounder and CEO Rafael Quintanilla.
Startups & VentureVenture Capital
Exclusive: Arrakis, betting AI’s biggest payoff is in industrial sectors not office work, emerges from stealth with $38 million in venture funding
By Jeremy KahnJuly 22, 2026
2 hours ago
ls
Commentarybooks
Confessions of an award-winning AI memoirist — the ‘slop’ debate isn’t really about good writing, and you know it
By Luke StoffelJuly 22, 2026
3 hours ago

Most Popular

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
2 days ago
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
Cybersecurity
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
By Jeremy Kahn and Emily ForliniJuly 21, 2026
19 hours ago
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
AI
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
By Eva RoytburgJuly 21, 2026
22 hours ago
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
Success
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
By Sydney LakeJuly 20, 2026
2 days ago
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
Success
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
By Emma BurleighJuly 21, 2026
23 hours ago
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
4 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.