UK freezes £10bn of assets held by Abramovich associates

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{"text":[[{"start":15.67,"text":"The UK is to freeze an estimated £10bn of assets held by two longstanding business associates of Roman Abramovich, the Russian oligarch best known for his ownership of Chelsea Football Club. "}],[{"start":28.64,"text":"The sanctions on Eugene Tenenbaum and David Davidovich bring the total number of oligarchs, family members and associates with ties to Russia on the UK list to 106, the government said on Thursday. "}],[{"start":42.06,"text":"According to the government, corporate filings show that Tenenbaum, a director at Chelsea, took control of Ervington Investments, an Abramovich-linked investment vehicle, on February 24, the day Vladimir Putin sent troops into Ukraine. "}],[{"start":57.980000000000004,"text":"Davidovich then took over Ervington Investments from Tenenbaum last month, the government said, adding that Davidovich faces a travel ban as well as the asset freeze. "}],[{"start":68.81,"text":"UK foreign secretary Liz Truss called the move the “largest asset freeze action in UK history”. "}],[{"start":75.85000000000001,"text":"The scale of the freeze indicates just how much of his wealth Abramovich has invested in the UK, whose capital was dubbed “Londongrad” for its embrace of Russian oligarchs in the early 2000s. "}],[{"start":88.24000000000001,"text":"The £10bn that the UK has frozen is higher than several leading estimates of the Russian oligarch’s total net worth, with Forbes putting it at $8.2bn. "}],[{"start":99.86000000000001,"text":"The new round of sanctions comes a day after a court in the Channel Island of Jersey imposed an order freezing more than $7bn in assets linked to Abramovich. "},{"start":110.46400000000001,"text":"The UK government said it co-ordinated its action with Jersey authorities. "}],[{"start":115.97000000000001,"text":"“We are tightening the ratchet on Putin’s war machine and targeting the circle of people closest to the Kremlin,” Truss said. "},{"start":123.299,"text":"“We will keep going with sanctions until Putin fails in Ukraine. "},{"start":127.40400000000001,"text":"Nothing and no one is off the table. ”"}],[{"start":130.93,"text":"Chelsea declined to comment after the Financial Times made a request to Tenenbaum via the club. "},{"start":137.059,"text":"Davidovich could not be reached for comment. "}],[{"start":140.71,"text":"The two are among Abramovich’s longest-serving lieutenants, having both worked at Sibneft, the oil company that the oligarch sold to the Russian state in 2005 in a $13bn deal that cemented his fortune. "}],[{"start":155.74,"text":"Tenenbaum has been on the Chelsea board since 2003, when Abramovich bought the Premier League club that he is now selling. "},{"start":164.257,"text":"A biography on Chelsea’s website describes Tenenbaum as one of Abramovich’s “closest associates”. "}],[{"start":171.33,"text":"The sanctions on Tenenbaum come on the same day that bidders vying to buy Chelsea are due to submit their revised offers, with a series of North American billionaires competing for a club Abramovich bankrolled for the last two decades. "}],[{"start":185.69,"text":"London stock exchange filings last month revealed that Abramovich had transferred entities that held investments in UK listed companies to both Davidovich and Tenenbaum following the invasion of Ukraine. "}],[{"start":198.99,"text":"Davidovich now controls Norma Investments in the British Virgin Islands, one of the oligarch’s main investment vehicles — whose name is anagram of Roman. "},{"start":208.919,"text":"It ultimately owned one of his superyachts as well as shares in British companies. "}],[{"start":214.84,"text":"UK corporate filings list Davidovich as residing in Israel and Tenenbaum in Jersey. "}],[{"start":null,"text":"<ft-content type=\"http://www.ft.com/ontology/content/Video\" url=\"http://api.ft.com/content/4adad9c9-151b-4448-8547-908b49d74fde\" data-embedded=\"true\"></ft-content>"}],[{"start":220.59,"text":""}]],"url":"https://creatives.ftacademy.cn/album/68208-1649985801.mp3"}

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UK freezes £10bn of assets held by Abramovich associates

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