Roman Abramovich has $9b in Jersey assets frozen, French mansion seized
The British Crown dependency of Jersey said it has frozen more than $AUD9 billion in assets believed to be linked to sanctions-hit Russian oligarch Roman Abramovich.
“Search warrants were executed by the States of Jersey Police on Tuesday 12 April 2022 at premises in Jersey suspected to be connected to the business activities of Roman Abramovich,” Jersey authorities said in a brief statement.
“The Royal Court also imposed a formal freezing order on 12 April … over assets understood to be valued in excess of $9 billion which are suspected to be connected to Mr Abramovich and which are either located in Jersey or owned by Jersey incorporated entities.”
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The statement, issued by Jersey’s Law Officers’ Department, added that no further comment would be made at this stage.
Britain had last month slapped sanctions on the tycoon for his close links to Russian President Vladimir Putin following the invasion of Ukraine.
The billionaire has already been forced to put Chelsea Football Club, which he bought in 2003, up for sale, and the bad news keeps coming.
In addition to the frozen assets in Jersey, the New York Post reports French authorities have also reportedly seized Abramovich’s $160m mansion located on the Riviera.
The historic home was previously leased by King Edward VIII after he abdicated the British throne to marry divorcee Wallis Simpson.
The property is one of 12 French residences owned by Abramovich across the country — all of which have been seized in the past few weeks, the Daily Mail reported.
While Abramovich is sure to be devastated by the seizure of the dozen properties, the home on the French Riviera is said to be particularly important to the oligarch.
He purchased the home — known as Chateau de la Croe — back in 2001 before spending close to $55 million on renovations.
The billionaire businessman added a rooftop swimming pool, a gigantic gym and a home cinema to the mansion, which was first built back in 1926.
Chateau de la Croe — which boasts 12 bedrooms and eight bathrooms — is set on 12 acres of lavish land just feet from the Mediterranean Sea.
Former British Prime Minister Winston Churchill and wife, Clementine, celebrated their 40th wedding anniversary at Chateau de la Croe in 1948.
According to the Daily Mail, French authorities have seized and frozen a total of 33 properties from Russians since Putin ordered an invasion of Ukraine back in February.
The news comes after the New York Post reported that Abramovich has been begging his Hollywood and US powerbroker friends to each lend him $1 million to keep him afloat as his assets are frozen worldwide.
Western countries including the United States and the EU have imposed unprecedented sanctions against Russia over its assault on Ukraine, including placing oligarchs and other individuals close to Putin on sanctions lists.
With AFP and Andrew Court, the New York Post
