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

NASA Astronaut Sunita Williams Refutes Health Concerns, Shares Fitness Routine from Space
X rival Bluesky gains 1.25 million users following U.S. election
Affirm beats on top and bottom lines
Exxon CEO says Trump should keep U.S. involved in global effort to address climate change
Elon Musk Tapped to Lead New ‘DOGE’ Department—Despite the Government Already Having One for Efficiency