London’s billionaire playground is challenged by reality of war

The possible demise of “Londongrad” may be welcomed by some but the city’s real-estate firms are less thrilled about a broader clampdown on secretive foreign capital

A property being sold by Russian billionaire Roman Abramovich in the Kensington district of London.

From King Constantine II of Greece and Saudi Arabia’s Sheikh Yamani to Russian billionaire Roman Abramovich, London’s mansions and penthouses have been a preferred haven for superrich exiles and expats since at least the 1970s.

Vladimir Putin’s invasion of Ukraine, and the subsequent targeting of Russia’s overseas money, threatens to end the British capital’s near 50-year run as the plutocrat’s playground of choice.