Headlines

Russian oligarch faces jail for contempt in acrimonious UK divorce case

Published by Global Banking & Finance Review

Posted on June 18, 2025

3 min read

· Last updated: January 23, 2026

Add as preferred source on Google
Trump discusses land swaps for peace between Ukraine and Russia - Global Banking & Finance Review
Image depicting Donald Trump announcing his proposal for land swaps to achieve peace between Ukraine and Russia, amidst ongoing conflict. This moment highlights his diplomatic approach to resolving tensions in Eastern Europe.
Global Banking & Finance Awards 2026 — Call for Entries

By Michael Holden LONDON (Reuters) -The wife of a Russian oil tycoon asked a judge at the High Court in London on Wednesday to jail her husband, alleging he had repeatedly failed to pay her legal fees

Russian Tycoon Faces Jail Time for Court Contempt in Divorce Battle

By Michael Holden

LONDON (Reuters) -A Russian oil tycoon faces a potential jail term after a judge at the High Court in London on Wednesday ruled he was in contempt of court for repeatedly failing to comply with legal rulings made in his bitter multi-million dollar divorce case.

Mikhail Kroupeev, the non-executive chairman of energy company Gulfsands, had not complied with orders made by the court after the collapse of his 36-year marriage to his wife Elena Kroupeeva, judge Richard Harrison said.

According to submissions from her legal team, the couple separated in "tempestuous" circumstances after Kroupeeva discovered in 2023 her husband had for most of the last 20 years been living a double life with a secret second family in Russia.

She began proceedings for a financial settlement in July 2024, and Kroupeev was ordered to pay just over 195,000 pounds ($262,645) towards her legal fees.

But her lawyers said he had failed to comply with that and a series of other orders demanding he reveal the true extent of his wealth that they said could be hundreds of millions of pounds, of which she was demanding an equal share. They said only prison would be an effective punishment.

The judge said he was satisfied that Kroupeev, who attended the hearing remotely from Cyprus, had deliberately breached orders and was in contempt of court. He adjourned sentencing until next Wednesday, with the oil magnate facing a maximum jail term of just over two years.

The couple, who are both Russian nationals but have British citizenship, moved to Britain in 1993.

Kroupeev's other business interests included Jupiter Energy, which is involved in oil and gas exports in Kazakhstan, and Waterford Finance which specialises in energy projects.

"They have been a very wealthy family for a very long time," Justin Warshaw, Kroupeeva's lawyer told the court.

The couple's assets were extensive, including a 15 million pound house in London, luxury homes in Portugal and Turkey, properties in Russia worth 10 million pounds, Warshaw said. They flew by private jet so their pet dogs could travel with them.

Warshaw said Kroupeev owed his wife more than 837,000 pounds in total, while a freezing order had also been made covering 38 million pounds of his assets.

Kroupeev's lawyer Michael Glaser said his client, who denied the allegations about their marriage, apologised for not complying with the orders, and had been unable to because of the freezing order.

He rejected Warshaw's assertion that his client had treated the court proceedings as a game.

"This is not a game, the liberty of my client is at stake," Glaser said.

($1 = 0.7424 pounds)

(Reporting by Michael Holden; Editing by Aidan Lewis, Alexandra Hudson)

Key Takeaways

  • Mikhail Kroupeev faces jail for contempt in UK divorce case.
  • Court orders reveal a complex financial settlement dispute.
  • Kroupeev accused of hiding wealth worth hundreds of millions.
  • A freezing order covers 38 million pounds of Kroupeev's assets.
  • Sentencing adjourned, with a maximum term of over two years.

Frequently Asked Questions

What led to the contempt ruling against Mikhail Kroupeev?
Mikhail Kroupeev was ruled in contempt of court for repeatedly failing to comply with legal orders regarding financial disclosures and payment of legal fees to his wife.
What are the financial stakes in this divorce case?
Kroupeev is alleged to owe his wife over 837,000 pounds, with a freezing order covering 38 million pounds of his assets amid claims of undisclosed wealth.
Where is Mikhail Kroupeev currently located?
Mikhail Kroupeev attended the court hearing remotely from Cyprus, indicating he is currently residing there.
What are the couple's notable assets?
The couple's assets include a 15 million pound house in London, luxury homes in Portugal and Turkey, and properties in Russia valued at 10 million pounds.
What was the judge's response to Kroupeev's actions?
The judge expressed satisfaction that Kroupeev had deliberately breached court orders and adjourned sentencing until the following Wednesday.

Tags

Related Articles

More from Headlines

Explore more articles in the Headlines category