Apr 13, 2022 - World

Tax haven freezes $7 billion of Roman Abramovich's assets

Jacob Knutson

Roman Abramovich attending a meeting in the Kremlin in Moscow in December 2016. Photo: Mikhail Svetlov/Getty Images

A Jersey court froze $7 billion in assets believed to be connected to Russian oligarch Roman Abramovich.

Why it matters: It's a massive freeze by the English Channel tax haven, equivalent to half of the billionaire’s publicly estimated wealth, per Bloomberg.

Jersey's Royal Court issued the freeze, formally known as a saisie judiciaire, on the assets on April 12. The assets are either located in Jersey or owned by Jersey incorporated entities.

The big picture: Abramovich was sanctioned by the United Kingdom last month over Russia's invasion of Ukraine and his ties to Russian President Vladimir Putin.

He's currently attempting to sell Chelsea FC, the Premier League soccer club, while two of his yachts have been identified for seizure in Antigua and Barbuda, Reuters reported.
Abramovich is one of many Russian oligarchs facing sanctions and seizures because of the invasion and their relationship with the Kremlin.

Go deeper: How many Russian oligarchs' yachts have been seized so far

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Tax haven freezes $7 billion of Roman Abramovich's assets

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