Figure of the day: Abramovich will pay $1,900 an hour to lawyers defending him from sanctions

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Figure of the day: Abramovich will pay $1,900 an hour to lawyers defending him from sanctions
Figure of the day: Abramovich will pay $1,900 an hour to lawyers defending him from sanctions
11 July, 11:56BusinessPhoto: Соцсети
Russian oligarch Roman Abramovich has hired lawyers from the American firm Kobre & Kim at rates up to $1,900 an hour.

This office will protect the interests of the billionaire in the case of the arrest of two of his planes, Bloomberg reports. At the same time, the firm's lawyers Michael Kim and Michael Sherwin were forced to register with the US Department of Justice as foreign agents. The application they submitted indicated their rate: from $875 to $1900 per hour.

With the help of lawyers, the Russian oligarch intends to challenge the arrest warrant for his Boeing 787-8 Dreamliner and Gulfstream aircraft, which was issued because in February this year they flew to Russia without permission from US authorities. Meanwhile, it became known that these flights were made at the request of Ukrainian officials so that Abramovich could take part in Russian-Ukrainian negotiations.

Meanwhile, the upper limit of the fees for lawyers hired by Russian oligarchs is only slightly below the fees of the highest paid American lawyers, according to Bloomberg. So, according to data for June 2022, lawyers from American law firms such as Hogan Lovells and Latham & Watkins earned more than $2,000 per hour. No one has yet risen above these rates in the USA.

It is curious that just the firm, whose representatives Abramovich addressed, is not considered the most prestigious, it is not in the list of the top 100 US law firms.

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