Jersey freezes $7bn of Roman Abramovich's assets

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Jersey freezes $7bn of Roman Abramovich's assets

The Royal Court of Jersey has frozen $7bn worth of assets linked to Russian oligarch Roman Abramovich as part of its sanctions policy in line with the UK Government over the war in Ukraine.  

The Jersey Law Officers' Department said in the statement on 13 April: "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. 

"The Royal Court also imposed a formal freezing order on 12 April, known as a saisie judiciaire, over assets understood to be valued in excess of US$7 billion which are suspected to be connected to Mr Abramovich and which are either located in Jersey or owned by Jersey incorporated entities. 

"No further comment will be made at this stage."

Abramovich is on the UK sanctions list over Russia's war in Ukraine, and all the crown dependencies are following the UK's policy.