One of Roman Abramovich’s closest associates misled a UK court to help secure ownership of Siberian oil fields, leaked documents seen by the BBC suggest.
Eugene Tenenbaum, a former director of Chelsea Football Club, helped to manage the billionaire’s wealth at the time of the case in 2008, which Abramovich won.
Tenenbaum was giving evidence during proceedings taken against Abramovich by a company owned by another Russian billionaire, who was claiming the oil fields had been stolen from him and other investors.
The leaked documents now suggest there was a premeditated attempt by Abramovich to reduce the value of the other investors’ stake in the Siberian venture.
Roman Abramovich’s lawyers say their “client denies all the allegations made against him”.
Lawyers for Eugene Tenenbaum say he “denies in the strongest terms any suggestion that he committed perjury or contempt of court”.
The 2008 court case centred on the ownership of Siberian oil fields being developed jointly between Abramovich’s company, Sibneft, and the Russian subsidiary of the British company, Sibir Energy PLC, owned by Russian billionaire Chalva Tchigirinsky.
Sibneft contributed money, while the subsidiary Yugraneft provided the licences for the oil fields.
Their partnership – which became known as Sibneft-Yugra – ended acrimoniously.
Sibir’s 50% interest in the joint venture had been diluted, or reduced, to less than 1%. It said this had been done without its knowledge.
Unsuccessful attempts to sue Sibneft in both Russia and the British Virgin Islands led to the court proceedings in London.
At court in 2008, Yugraneft claimed “to have been the victim of a massive fraud directed by Mr Abramovich”, as a result of which it had suffered a loss of “not less that $2 billion”, which in 2008 was worth about £1bn.
But Abramovich’s team claimed that Yugraneft had been unable to repay loans of more than $30m, so lost its right over the shares.