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Russian oligarchs party in Europe despite jet ban

Economy & businessEconomy
Key Points
  • Russian oligarchs continue to party in Europe despite EU ban on private jets
  • Swedish tech company Avinode helped circumvent sanctions, per SVT investigation
  • Details of Avinode's services and legal status remain unclear

Multiple reports indicate that Russian oligarchs are still enjoying lavish parties across Europe, seemingly unaffected by the EU ban on Russian private jets. The sanctions, imposed after Russia's invasion of Ukraine, were intended to restrict the movement of wealthy individuals linked to the Kremlin. However, the oligarchs appear to have found ways to bypass the restrictions.

A key enabler appears to be Avinode, a Swedish technology company. According to an investigation by SVT, Avinode has provided services that help the Russian elite circumvent the sanctions. The exact nature of these services remains unclear, as does the specific role Avinode played in facilitating the oligarchs' travel. It is also unknown which Russian oligarchs or elite members were involved, and whether Avinode's actions violated or exploited EU sanctions. Swedish authorities have not yet commented on the findings, and the legal status of Avinode's activities is uncertain.

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Russian oligarchs party in Europe despite jet ban | Reed News