After the announcement of the withdrawal of Roman Abramovich from the management of Chelsea because of his closeness displayed with Vladimir Putin, in France, the eyes are on Dmitry Rybolovlev. The president of AS Monaco is one of the great fortunes of his country. He too could be worried about the sanctions hovering over the Russian oligarchs, in retaliation for the war started in Ukraine, even if the situation remains unclear on the Rock. Because the man has a dual nationality (Russian and Cypriot), and his proximity to the current power is not as clear as that of his Blues counterpart.
Arrived in Monaco in the winter of 2011, Dmitry Rybolovlev maintains rather distant relations with his country of origin. The native of Perm, in the Urals, who made his fortune investing in potash fertilizer in the 1990s (under Boris Yeltsin), quickly turned to the international market. “Rybolovlev would have decided to do business abroad, in particular because he was no longer in the odor of sanctity in Russia. He was dragging a few saucepans behind him, which date from the end of the Soviet period, from the 90s “, explains Lukas Aubin, doctor and researcher in geopolitics, specialist in Russia. He has also since obtained Cypriot nationality. Compared to other businessmen in his country, the Monegasque president therefore appears less close to Vladimir Putin and to Russian power.
A situation which does not however prevent him from appearing in the “Putin Accountability Act”, a list drawn up by the American Confres of people of Russian nationality to be sanctioned because of their proximity to Putin, shared on January 19. “It’s possible that the sanctions could hit him hard too”notes Lukas Aubin. “The oligarchs are targeted, thinking that touching the wallets of the biggest powers in Russia can influence Russian policy”, he adds. On Monday evening, Prince Albert’s cabinet announced that Monaco was immediately adopting and implementing the European Union’s asset freeze and economic sanctions against Russia, which do not currently concern Rybolovlev.
Generally speaking, Rybolovlev’s case appears to be different from that of Abramovich at Chelsea. “Abramovich followed Putin’s line more, in the sense that Putin had asked the oligarchs, in the 2000s, to invest in sport, and Abramovich complied” first by building a hundred football pitches in Russia, then by going abroad, specifies Lukas Aubin. “Rybolovlev was not at all in this process. It was rather a form of opportunism in doubt to avoid having problems in Russia, he invested abroad.” Enough to keep him, for the moment, away from European sanctions.
Club statement on the conflict in Ukraine.
— Chelsea FC (@ChelseaFC) February 27, 2022
But the situation can still change, with possible consequences for the AS Monaco club. “There is a Russian identity to the club which is undeniable. If ever sport, as it seems to be the case, is subject to sanctions, it is not impossible that AS Monaco will be a victim and undergo this dimension”, assumes Yvan Gastaut, lecturer at the University of Nice Sophia Antipolis, historian of sport and Monaco. This is evidenced by the symbolic protest gesture of the Rémois on Sunday, who delayed the kick-off of their Ligue 1 match against the Principality club by five minutes, precisely to show their support for the Ukrainians.
“We can imagine teams that refuse to play against Monaco. As sport seems very present in the way of approaching the conflict, we immediately saw sanctions, bans, players brought to position themselves. We can imagine that a club under Russian management like Monaco has problems to worry about.”, explains Yvan Gastaut. Asked about the subject on Monday at a press conference before the semi-final of the Coupe de France at OGC Nice, coach Christophe Galtier was nevertheless categorical: “I have no problem meeting AS Monaco […]. You can’t blame everyone with Russian nationality.”
Concerns could also relate to the financial situation. If Dmitry Rybolovlev does face sanctions and have his assets or resources frozen, the club’s finances could suffer. “The club could have management problems if the conflict were to last”predicts Yvan Gastaut.