The Kremlin on the Hill: Russia’s Grip on London’s "Billionaire Row"

For decades, North London has served as a safe haven for "the cream" of Russian society, effectively creating a "Kremlin on the Hill."

1. The Three Highgate Giants

The presence of Russian capital is most visible in three specific properties:

• Athlone House: Owned by Mikhail Fridman. Once a derelict Victorian mansion, it was restored with millions of pounds. Fridman, a founder of Alfa Bank, has faced frozen assets, leaving this grand estate in a state of legal and financial limbo.

• Beechwood House: Linked to Alisher Usmanov. This Grade II listed mansion sits on 11 acres of prime land. Usmanov, a metals and mining magnate, was among the first to be targeted by UK sanctions following the invasion of Ukraine.

• Witanhurst: While the ownership has been shrouded in mystery, it is widely linked to Andrey Guryev. It is the second-largest private residence in London after Buckingham Palace.

2. The Mechanics of Occupation

Russia "occupied" the cream of London not through military force, but through a strategy of Institutional Integration:

• Philanthropy and Soft Power: Many of these owners funded local Highgate institutions and restoration projects to gain social acceptance.

• Shell Companies: The use of offshore entities in the British Virgin Islands or Cyprus made it difficult to track the "Ultimate Beneficial Owner," allowing wealth to stay hidden for years.

3. The Impact of Sanctions

The 2022 sanctions marked a turning point. These houses are no longer just homes; they are "frozen assets." While the owners cannot sell or profit from them, the UK government faces the complexity of maintaining these massive structures or finding the legal grounds to seize and repurpose them.

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