Roman Abramovich 'betrayed me over £3.5bn'
Chelsea owner Roman Abramovich "betrayed and blackmailed" fellow Russian billionaire Boris Berezovsky over £3.5billion of oil shares, the High Court heard today.
The clash was so serious that the oligarchs, who were once friends, have not spoken for almost 11 years, the court was told. Mr Abramovich was accused of putting wealth before friendship and loyalty. He denies he was ever a friend or partner of Mr Berezovsky.
The dispute centres on a deal over Russian oil giant Sibneft, which would make both men wealthy "beyond the wildest dreams of most people".
Mr Berezovsky, 65, claims he was "short-changed" by Mr Abramovich, 44, after he was forced to sell the Chelsea owner shares in Sibneft when he fled Russia as an enemy of the state.
Opening the trial, Laurence Rabinowitz, QC, representing Mr Berezovsky, said his client came to court "because he was betrayed and because he was blackmailed by someone who had been his friend and partner. They became and remained good friends until Mr Berezovsky, who had adopted a high political profile in Russia, fell out with those in power in the Kremlin and was forced to leave his home."
Mr Berezovsky was given asylum in Britain in 2003 and set up a new life in London. But then, said Mr Rabinowitz, Mr Abromovich "was in effect required to make a choice. Either to remain loyal to Mr Berezovsky ... or instead to betray Mr Berezovsky and to seek to profit from his difficulties".
He went on: "It is our case that Mr Abramovich at that point demonstrated he was a man to whom wealth and influence mattered more than friendship and loyalty."
The court heard the two men, along with a third Russian, Badri Patarkatsishvili, owned shares in Sibneft and Russian aluminium giant Rusal. Mr Berezovsky claims he was forced to sell his shares to Mr Abramovich before leaving Russia and that he was short-changed. He wants the difference in the price of the shares and damages for intimidation in a claim for $5.56billion (£3.55billion).
According to Mr Rabinowitz Mr Abramovich says that he merely hired Mr Berezovsky for a considerable sum for services that were basically criminal in nature, involving both corrupt political patronage and unlawful physical protection to protect him from Russian Chechen criminal gangs.
The hearing continues.
