Jersey seizes $7bn in assets linked to Roman Abramovich

Business

A court in Jersey has frozen $7bn (£5.4bn) in assets linked to Russian billionaire Roman Abramovich.

The assets being targeted are either located in Jersey, or owned by Jersey-incorporated entities, the Law Offices Department of Jersey said.

Police searched addresses suspected of being connected to Mr Abramavich‘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.

An ally of Russian President Vladimir Putin, he has assumed an unofficial role in peace talks between Ukraine and Russia.

Please use Chrome browser for a more accessible video player


0:20

Roman Abramovich at Ukraine peace talks

He is best known as the owner of Chelsea FC. The club is now up for sale after the British government blacklisted his finances, which were used to help fund the team’s triumphs on the pitch.

More on Roman Abramovich

Superyachts linked to the 55-year-old have also been docked in southwest Turkey, where they would not face sanctions.

Nations like Antigua and Barbuda have agreed to help Britain seize yachts owned by the businessman.

Articles You May Like

Candyman star Tony Todd dies aged 69
Post Office faces backlash over job cuts – with 115 branches at risk of closure
England vs. Australia: Borthwick’s nearly men fall short again
Archbishop of Canterbury resigns
Advisory firm Teneo hunts new backers at $2bn valuation