Russian business tycoon Roman Abramovich voluntarily laid down his duties as member and Speaker of the Duma (Parliament) of Chukotka Autonomous Okrug (District) of the Russian Federation (RF).   

“Today [i.e., Tuesday], the MPs elected Aramayis Dallakyan as Speaker of the Duma of Chukotka Autonomous Okrug,” reads the statement posted on the Okrug official website.   

The statement also informs that Abramovich resigned from the speaker’s position due to a ban on having property abroad.

He took this measure in connection with the new aforesaid RF federal law’s entry into force, RIA Novosti News Agency of Russia reports.     

To note, Roman Abramovich is the main owner of the private investment company Millhouse LLC. He is known outside Russia as the owner of Chelsea Football Club, an English Premier League football team.