The order comes after an investigation by the island’s police into areas “suspected of being linked to Roman Abramovich’s business activities”. “The Royal Court also issued a formal commitment order on April 12. . . “Over assets estimated to be worth more than $ 7 billion, which are suspected of being linked to Mr Abramovich,” the government said. The assets were either located in Jersey or belonged to entities set up on the island, the statement said. The move is another blow to Abramovich. Since the start of the war in Ukraine, British authorities have forced him to sell the Chelsea Football Club and his yachts have been forced to leave ports to avoid confiscation. Trading in shares of Evraz, the aluminum maker that acquired his fortune, remains on hold. The $ 7 billion asset freeze against Abramovich in Jersey is very small compared to the total of $ 8 billion seized by Switzerland and the 900 Russians on the EU-US sanctions list. Ian Gorst, Jersey’s secretary of state for foreign affairs and financial services, said he could not comment on issues being “actively considered” by the Dependent’s Legal Department. “The Jersey government continues to stand with the United Kingdom and its international partners and has implemented all of the UK and UN sanctions imposed in response to Russia’s actions against Ukraine,” Gorst said. “Our legislation on the implementation of these measures has serious criminal consequences and any links with entities that are subject to sanctions or suspected violations must be reported to the competent authorities.” The move against Abramovich is the clearest step by the Channel Islands government to seize some of the billions of dollars worth of wealthy Russians that are widely believed to be invested offshore. Jersey had previously said it was applying all sanctions imposed by the United Kingdom government following Russia’s February 24 invasion of Ukraine. Although it was not clear on Wednesday what assets were affected by the freezing order, Abramovich transferred some of his investments in Jersey in recent years from the British Virgin Islands, another offshore paradise.

The latest bills from Fordstam, the vehicle that controls Chelsea Football Club, show an outstanding loan of £ 1.5 billion to the company from Camberley International Investments. Camberley transferred its 2020 registration from BVI to Jersey. Many Abramovich-linked helicopters belong to Jersey-based entities, including the Sussurro, the oligarch’s first super yacht purchased in 1998. The Guardian reported last week that Abramovich was transporting a Jersey vehicle that had another yacht – the Aquamarine 50 meters. collaborator David Davidovich on the day Russia invaded Ukraine. Abramovic’s spokesman did not immediately respond to a request for comment.