FX.co ★ Abramovich quits of his own volition

Roman Abramovich, the richest man of Chukotka, has relinquished his post as a deputy and Parliament speaker. The ex-owner of the Russian oil company Sibneft took up the post of the regional Parliament head at the request of the local deputies in 2008, right after the former governor resignation. It is worthy of note that Mr Abramovich had been at the helm since 2000 until he was forced to resign by then-President Dmitry Medvedev. However, the officials announced that the Chelsea proprietor stepped aside by his own accord. The reason for that was the new law prohibiting the civil servants, ministers, and deputies from holding their funds, jewelery, and assets in financial institutions abroad.
In compliance with the document posted on the Chukotka official website, this leave is explained by the fact that Roman Abramovich desired to comply with the legislation and, in particular, with the Federal Law of the Russian Federation from July 27, 2004, No. 79-FZ. Chukotka Autonomous Okrug deputies accepted his resignation at the meeting of the local Duma. In 2006, Mr Abramovich had applied for termination of his powers as a head of the region and other official positions in the Chukotka administration, but Vladimir Putin turned down his request. The financial analysts have no doubt that the billionaire decided to focus on his business.