World News for Students of English

16-10-2026 15:00

A new investigation shows how Russian billionaire Roman Abramovich hid his great wealth to avoid paying taxes.

Secret documents show that companies in Cyprus wrote fake and backdated papers for him. These papers helped hide over 600 million dollars worth of luxury items, including yachts, private planes, and expensive houses. The advisers also changed bank records, so Abramovich wouldn’t have to pay millions in taxes.

Today, Abramovich faces strict sanctions in many countries because of his close relationship with Russian President Vladimir Putin. He can no longer do business in Britain, and his large superyachts are now parked in Turkey. Experts say changing official financial records to avoid taxes is against the law. Abramovich denies doing anything wrong and says he only followed advice from his financial team.

Difficult words: avoid (to stay away from something or prevent something bad from happening), backdate (to put an earlier date on an official document), advice (an opinion given to help someone decide what to do).

You can watch the original video in the Level 3 section.