Sitting in the plush surroundings of the Dorchester Hotel, London, Vladimir Ashurkov recalls his final moments in Russia.
“I switched off my phone, I bought the plane ticket at the airport… my wife and child followed a few days later. It was quite unnerving."
There is a warm lull of jazz playing in the background of the lounge that is only disturbed by a party of loud Russians a few tables over. Just a few minutes’ walk away is the Millennium Hotel, where Alexander Litvinenko was poisoned with radioactive polonium in 2006, but Mr Ashurkov is not perturbed. “Dissident, oppositionist, enemy of Putin, call me what you like," he quips.
In March 2014, police raided his home in Moscow, under the pretext that authorities were looking for a member of the landlord’s family. “He hadn’t been in Russia for a year prior to that,” says Mr Ashurkov.
Footage of the raid ended up on national television, and just a few months later Mr Ashurkov found himself at the Home Office in London applying for political asylum.
In the wake of the poisoning of Sergei Skripal, and the suspected murder of Nikolai Glushkov, is the British state fulfilling its responsibilities to keep Russian dissidents safe?
“I’m no different from any other resident of the UK, I don’t get any special protection or attention, I trust the British system," he says.
In an effort to protect themselves, those who can afford it employ huge security details – at one point Boris Berezovsky had a team of six bodyguards. Others try to keep a low-profile, and essentially disappear, but Mr Ashurkov is neither of those. “I have a fatalist approach. I’m confident the Russian security services can do things like they did to Skripal in any part of the world, if a decision is taken in Moscow.
“I don’t want to live the life of a fugitive, hiding somewhere. Everything I do is transparent and open. If the Russian state wants to hurt me, there is not that much I’d be able to do, but I don’t have any private enemies."
“I didn’t know Mr Skripal, but I hope his fight for his life is successful," he says, as he stirs his green tea.
Mr Ashurkov is a different type of dissident. He is not a mega-rich oligarch of the type that own vast swathes of property throughout central London, bought with questionable money. Nor is he a defected agent, as were Mr Litvinenko and Mr Skripal.
He is a western-educated technocrat. As the Soviet Union broke up, he developed an interest in finance and economics. He knows the oligarchs well though - he used to work for them.
Mr Ashurkov is a former executive at one of Russia’s largest investment holdings - Alfa Group, which he describes as “owned by several who you can describe as oligarchs”. One of them was Mikhail Fridman, who last year was labelled the seventh richest man in Russia.
Mr Fridman is also now a London resident – although the two men are present in the country under very different circumstances.
In 2009, Mr Ashurkov began working for Russia's leading opposition figure Alexei Navalny, who is now in prison. In 2012, The Wall Street Journal described Mr Navalny as "the man Vladimir Putin fears most".
It was here that he fell foul of the Kremlin. As Mr Navalny rose to national and international prominence, the surveillance and pressures on Mr Ashurkov also increased. Now he continues his opposition activities from London.
But he is sceptical of UK Prime Minister Theresa May’s response to the poisoning of Mr Skripal and his daughter Yulia. “She [Theresa May] put herself in a tough spot by raising expectations very high with her harsh words, and by issuing the ultimatum. The measures that were announced on Wednesday are largely symbolic. There is nothing new in the expulsion of diplomats.
“I hope the British government follows up with something that can be effective. Not some knee-jerk reaction, but the consistent application of existing legislation, which is aimed at exposing and punishing corrupt money flows."
He adds that it’s not just the oligarchs the British government need to go after, but also the people around them. “There is a big lobby of enablers in the UK. People who facilitate the flow of dirty money into London - lawyers, bankers, property agents.
“There are mechanisms in Britain that, if there is political will, can be used to investigate the oligarchs and officials that seem to enjoy London.
“There is no silver bullet to avoid these attacks in the future. But she should keep Britain clean of this money that is linked to an aggressive Russia redrawing European borders.”
At the Russia presidential election on Sunday, Vladimir Putin was all but guaranteed another term, and despite being perhaps the most recognisable opposition figure in Russia, Mr Ashurkov’s good friend Mr Navalny will not be on the ballot - he was barred from standing in December.
“Like many things in Russia, the elections have turned into a façade. The only candidate with a chance is Mr Putin,” he says.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
COMPANY PROFILE
● Company: Bidzi
● Started: 2024
● Founders: Akshay Dosaj and Asif Rashid
● Based: Dubai, UAE
● Industry: M&A
● Funding size: Bootstrapped
● No of employees: Nine
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
The five pillars of Islam
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
2018 ICC World Twenty20 Asian Western Regional Qualifier
The top three teams progress to the Asia Qualifier
Final: UAE beat Qatar by nine wickets
Third-place play-off: Kuwait beat Saudi Arabia by five runs
Table
1 UAE 5 5 0 10
2 Qatar 5 4 1 8
3 Saudi 5 3 2 6
4 Kuwait 5 2 3 4
5 Bahrain 5 1 4 2
6 Maldives 5 0 5 0
more from Janine di Giovanni
UAE currency: the story behind the money in your pockets
if you go
The flights
Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning.
The trains
Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.
The hotels
Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.
Poacher
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ERichie%20Mehta%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Nimisha%20Sajayan%2C%20Roshan%20Mathew%2C%20Dibyendu%20Bhattacharya%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5