Hidden within what appears to be an ordinary red-brick warehouse in south London lies an extraordinary art collection belonging to Russian tycoon Roman Abramovich. The estimated value of this collection, assessed by the oligarch’s experts, surpasses an impressive $1 billion. It comprises an extensive selection of over 300 modern art pieces, including paintings and sculptures, meticulously acquired over nearly a decade.

Among the notable artworks is Lucian Freud’s masterpiece, “Benefits Supervisor Sleeping,” a purchase made by Abramovich in 2008 at a staggering price of $33.6 million during an auction in New York. The collection transcends the boundaries of geography, adorning Abramovich’s homes in England, the south of France, and even gracing his luxurious yacht, the $700 million Eclipse.

The Guardian recently revealed intricate details of this remarkable art collection through the “Oligarch Files,” a leak from MeritServus, a Cyprus-based offshore financial services provider previously linked with Abramovich and other oligarchs. Despite the immense value and Abramovich’s high profile, the collection has never been showcased publicly, presenting more like a museum than a private assortment.

The array of art in this treasure trove is awe-inspiring, presenting a comprehensive history of modern art. Works by renowned artists like Monet, Mondrian, Matisse, Picasso, Russian modernists such as Natalia Goncharova and Véra Rockline, surrealist canvases by Magritte, and an impressive collection of abstract art are part of Abramovich’s extensive art portfolio.

In a strategic move preceding the invasion of Ukraine, the files indicate a reduction in Abramovich’s stake in the trust that owned the art pieces, enabling his ex-wife, Dasha Zhukova, to become the majority beneficiary. Zhukova, a US citizen and an avid art enthusiast, has not been subject to sanctions. The trust was restructured to ensure Zhukova’s control over 51% of the distributions, avoiding potential asset freezes under sanctions.

The whereabouts and status of the collection remain uncertain, although it is not subject to asset freezing orders, leaving the possibility of sales, purchases, and loans open. However, the sanctions have inadvertently deprived the public of the chance to appreciate these significant modern and contemporary artworks, prompting concerns about the fate of this cultural heritage amidst the ongoing geopolitical turmoil.

Abramovich refrains from commenting on the matter, maintaining a discreet silence. Zhukova, who remains connected to Abramovich through the collection, has expressed her condemnation of the Russian invasion of Ukraine. Despite the intricate dynamics surrounding this art collection, it stands as a testament to the heights of influence and prestige that vast wealth can bring in the world of art.