Abramovich associate unloads Snowmass home for $10 million | AspenTimes.com

Abramovich associate unloads Snowmass home for $10 million

A Snowmass home on Wood Road sold this week for $10 million and was previously owned by Eugene Tenenbaum, a close associate of Roman Abramovich.
Pitkin County public records image

A man the Chelsea football club’s website calls one of Roman Abramovich’s “closest associates” sold his Snowmass home this week for $10 million, according to property records.

A special warranty deed identified Eugene Tenenbaum as the seller of the home, located at 1400 Woods Road, to Jaks Limited Liability Company of Houston. Tenenbaum bought the home for $7.7 million in June 2008, months after Abramovich dropped $36.4 million for a Snowmass mansion on Wildcat Drive the previous April and $11.8 million for a home on Aspen Way, also in Snowmass, in February 2008.

Tenenbaum listed the 4,644-square-foot house for sale on March 10, according to Zillow. Listing broker Larry Jones of Aspen Snowmass Sotheby’s declined comment when reached Thursday.

Tenenbaum was born in Ukraine when it was part of the USSR and once directed corporate finance for the oil company Sibneft, which Abramovich sold in 2006, according to Reuters. Tenenbaum, who now lives in London, spent most of his youth growing up in Canada.

The UK and European Union previously hit Abramovich with sanctions freezing his assets for his alleged ties to Vladimir Putin, which have included seizing the Chelsea football club he owns. It was reported this week, however, that Ukraine President Volodymyr Zelensky asked President Biden not to sanction Abramovich so that he could play a role in peace talks with Russia.

On Friday, Reuters reported that Abramovich transferred his control of Cyprus-based Ervington Investments Limited to Tenenbaum on Feb. 24, the day Russia invaded Ukraine. Tenenbaum told Reuters he purchased the Ervington company from a trust called Norma Investments, controlled by Abramovich and listing his family as beneficiaries, in compliance with laws and regulations. Tenenbaum has not been sanctioned by any country.

“Ervington is a company that I have worked with for many years,” he told Reuters. “I know the company’s investments and employees well, and buying Ervington provides me with an opportunity to continue to work with this business, under my control and for my and the employees’ benefit.”

Tenenbaum also was among the 10 board members of the London-based steel-mining business Evraz LLC, of which Abramovich was the largest shareholder, who resigned earlier this month after the UK government’s Financial Conduct Authority suspended trading of the company shares. Evraz, which also has a presence in North America, has a steel mill in Pueblo. Government officials have said the steel may have been used for Russian tanks and other goods used in the invasion of Ukraine.

Also quitting the Evrazboard was Soviet-born Eugene Shvidler, another associate of Abramovich who owns a home in Snowmass. Shvidler bought a home on 202 East Fork Lane, in the Two Creeks neighborhood, for $14.5 million in August 2008, the same year Abramovich and Tenenbaum acquired Snowmass property.

The UK government sanctioned Shvidler on Thursday, describing him as “a billionaire businessman with close business links to Roman Abramovich (designated by the UK on 10 March 2022). His net worth is reported as an estimated £1.2 billion,” according to a press release from the UK Foreign Secretary Liz Truss.

Abramovich’s ties to the area have drawn concern from Pitkin County Commissioner Greg Poschman, who alerted the Colorado Attorney General’s Office about it in a March 15-dated letter.

“I have constituents in Pitkin County who are seriously alarmed about the two or more properties in our community that are owned by Russian oligarchs,” the letter said. “The most prominent of the oligarchs with local properties, Roman Abramovich is being sanctioned and has had property seized in the UK, Canada, the EU, Australia, New York and elsewhere. He is widely understood to be a longtime Putin insider and a defacto supporter of Russian aggression in Ukraine. Abramovich’s two properties in the Snowmass Village area of Pitkin County are valued in the many tens of millions and may represent up to 10% of his real estate holdings in the U.S.”

Reached Thursday morning, Poschman said the letter had been run up the ladder to the federal government, and he had yet to get a response.

“I think that our community needs to alert the feds to the presence of these guys,” he said. “And we want to know what theses guys are doing.”

Abramovich has denied having strong ties to Putin.