Fin24

Abramovich to run for parliament

2010-12-17 11:25

Moscow - Chelsea Football Club owner Roman Abramovich intends to a run for a seat in Russia's lower house of parliament, where he previously served for eight years, Interfax reported Friday.

Abramovich, who was ranked as Russia's fourth-richest man with a fortune of $11.2bn by Forbes magazine, wants to represent the remote Arctic region of Chukotka, the news agency cited a local election official as saying.

Reputed to be one of Russia's most influential power-brokers in the late 1990s, Abramovich represented the region on the edge of the Bering Strait from 2001 to 2008.

He now officially serves as chairperson of the regional parliament, although the playboy billionaire spends most of his time in London and travelling the world.

Russia's parliamentary elections are scheduled for next December.

Abramovich, 44, made his fortune in the turbulent early years of post-Soviet Russia by trading oil, eventually acquiring the Sibneft oil company and expanding into other businesses.

He is currently the main owner of the Millhouse LLC investment company.