UK freezes $13 billion in assets held by Abramovich partners – 4/14/2022

LONDON, Apr 14, 2022 (AFP) – Britain on Thursday announced an asset freeze worth around 10 billion pounds ($13 billion, 12 billion euros) of two oligarchs long associated with Russian Roman Abramovich, owner of Chelsea FC.

The sanctions against Chelsea manager Eugene Tenenbaum and David Davidovich, Canadian and Russian, respectively, bring the total number of oligarchs, relatives and associates sanctioned by London since Russia invaded Ukraine in February to 106.

The British government has assured that this asset freeze – the biggest in the country’s history – will cut off the main sources of income for Russian President Vladimir Putin’s “war machine”.

“We are targeting the circle of people closest to the Kremlin,” Foreign Minister Liz Truss said in a statement.

“We will continue with sanctions until Putin fails in Ukraine. Nothing and no one is ruled out,” he added.

Davidovich, whom Forbes describes as “Abramovich’s discreet right-hand man”, was also banned from traveling in the UK.

In turn, Tenenbaum is presented as one of the closest business partners of the Chelsea owner, who immediately after the Russian invasion took control of an investment company linked to Abramovich.

The island of Jersey, a British Crown dependency, announced on Wednesday that it had frozen more than $7 billion in assets believed to be linked to Abramovich.

Last month, London already imposed sanctions on the tycoon for his close ties to Putin. The billionaire was forced to put the London football club he bought in 2003 up for sale.

Abramovich is also on the list of people sanctioned by the European Union in March.

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