Russia sanctions: UK has placed a freeze on the assets of Abramovich’s associates

Image credit: BBC

Two Russian billionaires linked to billionaire Roman Abramovich have been sanctioned by the UK government.

Mr Abramovich’s longtime business associates, Chelsea FC directors Eugene Tenenbaum and David Davidovich, own the club.

The assets of the couple have been frozen, with a combined value of up to £10 billion.

According to Foreign Secretary Liz Truss, the asset freeze is the greatest in UK history.

They join a long list of people who have been sanctioned as a result of Russia’s invasion of Ukraine, including Russian President Vladimir Putin’s two adult daughters.

Their financial assets will not be sent back to Russia as a result of this.

Since February, the United Kingdom has sanctioned a total of 106 people.

Mr Tenenbaum has previously stated that he is one of Mr Abramovich’s closest business associates.

According to corporate papers, he seized control of Evrington Investments Limited, a Mr Abramovich-linked investment firm, on February 24.

In March, Mr Davidovich took over the company. He is also subject to a travel ban, which prevents him from entering or remaining in the United Kingdom.

Ms Truss stated, “We’re tightening the ratchet on Putin’s war machine and targeting the Kremlin’s inner circle.”

“We’ll keep slapping sanctions on Putin until he fails in Ukraine.” “Nothing is off the table, and no one is off the table.”

These punishments were coordinated with those taken earlier this week by authorities in Jersey.

Mr Abramovich’s assets worth $7 billion (£5.4 billion) were frozen by a Jersey court on Tuesday.

Abramovich’s Gulfstream private jet has been effectively suspended in the United States after the US Commerce Department stated it was one of a series of jets that had violated US sanctions.

It is currently illegal for any Russian aircraft to fly to or land in the United Kingdom. Even if the sanctioned individual is not on board, the government has the authority to remove aircraft belonging to specified Russian individuals and businesses from the UK aircraft register. Russian ships are likewise not permitted to dock at British ports.

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