Roman Abramovich has had more than £5.4bn of his assets frozen in Jersey and 12 luxury properties – including a near-£100m villa on the Riviera that was once the holiday home of King Edward VIII – seized by the French government.
The Royal Court of Jersey announced on Wednesday that it had imposed a formal freezing order on “assets understood to be valued in excess of US$7bn, which are suspected to be connected to Mr Abramovich and which are either located in Jersey or owned by Jersey incorporated entities”.
The Russian oligarch and Chelsea FC owner was also hit by another crackdown in France on the assets of individuals affected by sanctions. The economy and finance ministry announced on Wednesday that it had seized 33 properties owned by oligarchs who had been hit by sanctions, including a dozen belonging to Abramovich.
“They include homes, superyachts and helicopters, and add up to well over €25bn,” a French finance ministry source said. “There are 33 properties that have been frozen, including a dozen belonging to Roman Abramovich.”
Among the properties seized is Abramovich’s Château de la Croë villa in Cap d’Antibes, which has eight bedrooms, a 15-metre rooftop pool, gym and cinema. The villa, which was built in 1926, is set in 12 acres of manicured lawns overlooking the Mediterranean. High-end estate agents estimate the property is now worth £90m-£100m. » | Rupert Neate, Wealth correspondent and Pjotr Sauer | Wednesday, April 13, 2022
