By Tim Parsons-
Chelsea FC owner Roman Abramovich has had £5.4 billion worth of assets frozen in Jersey.
Abramovich was among a number of Russian oligarchs to be hit by sanctions in response to Vladimir Putin’s deadly ‘special military operation’ in Ukraine, accused by the UK government of having the ‘blood of the Ukrainian people on their hands’.
A court in Jersey froze $7bn (£5.4bn) in assets linked to Russian billionaire Roman Abramovich. The assets being targeted are either located in the island, or owned by Jersey-incorporated entities, the Law Offices Department of Jersey said.
Police searched addresses suspected of being connected to Mr Abramovich’s business activities on Tuesday. The island of Jersey is a well-known tax haven.
Mr Abramovich was among a number of Russian oligarchs sanctioned by the UK and the EU in response to Russia’s invasion of Ukraine.
The 55-year-old, who has an estimated net worth of $8.2 billion (£6.3 billion), is alleged to have strong ties to Putin – which he’s denied – and remains ‘one of the few oligarchs from the 1990s to maintain prominence under Putin’, according to the government.
The Jersey Law Officers’ Department said in a statement: ‘Search warrants were executed by the States of Jersey Police on Tuesday April 12 2022 at premises in Jersey suspected to be connected to the business activities of Roman Abramovich.
‘The Royal Court also imposed a formal freezing order on April 12, known as a saisie judiciaire, over assets understood to be valued in excess of US$7bn which are suspected to be connected to Mr Abramovich and which are either located in Jersey or owned by Jersey incorporated entities.’
The billionaire tried to sell Chelsea Football Club in March, until the UK government intervened following his sanction over the Russian war in Ukraine.
Earlier in April, the Caribbean nation Antigua and Barbuda said it was willing to help the UK seize yachts owned by Abramovich.
Superyachts linked to the businessman, together worth an estimated $1.2bn, have also been docked in southwest Turkey, outside the jurisdiction of the EU and the UK.
Earlier this week, police on the Channel island searched premises suspected to be connected to Abramovich’s business activities. It’s believed he’s currently in Moscow.
Abromavich has attempted to engage in peace talks in relation to the Russian war in Ukraine. Due to Jersey following UK policy, it has to impose sanctions on the same people.
“The Royal Court also imposed a formal freezing order on April 12, known as a saisie judiciaire, over assets understood to be valued in excess of $7 billion which are suspected to be connected to Mr Abramovich and which are either located in Jersey or owned by Jersey incorporated entities.”
Abramovich was also impacted by a crackdown in France, with the economy and finance industry seizing 33 properties owned by oligarchs targeted in sanctions. A dozen of them were owned by Abramovich.
A French finance ministry source said: “They include homes, superyachts and helicopters, and add up to well over €25bn ($27bn, £20bn). There are 33 properties that have been frozen, including a dozen belonging to Roman Abramovich.”