A Cyprus-based company, with investments worth tens of millions of dollars, was transferred by Roman Abramovich on the very day of the Russian invasion of Ukraine.
The Russian businessman transferred the company to a director of English football club Chelsea on the day Russia invaded Ukraine, new company records cited by Reuters show.
- BBC revelations on how Abramovich acquired property[/B]
British sanctions against Abramovich and 6 other Russian businessmen
An analysis by Reuters of corporate files in London and Amsterdam showed that Mr. Abramovich had previously been listed as the "beneficial owner" of Cyprus-based Ervington Investments Limited. The company has made investments in at least eight companies, including Russia's leading search engine Yandex, according to company records.
On February 24, Eugene Tenenbaum, a Chelsea director described on the club's website as one of Abramovich's "closest associates", took full control of Ervington Investments.
Mr Tenenbaum told Reuters that he bought the company "in accordance with laws and regulations" but declined to say how much he paid.
It is the second time Chelsea's Russian owner has transferred assets to a close associate before the UK and EU imposed sanctions against him. He also transferred Norma Investments to David David Davidovich, another associate, on the first day of the attack.
The UK was slow to impose sanctions after the February 24 invasion, with critics of the British government saying it gave the oligarchs time to move their assets out of the country before the restrictions, which came into force on March 10, were announced.
Mr Abramovich put European champions Chelsea up for sale on 2 March, but after the sanctions were announced, the club began operating under a special licence, and is now effectively controlled by the government.
The 55-year-old is one of Russia's most powerful businessmen, with his wealth coming from oil and aluminium after the break-up of the Soviet Union in 1991. His net worth is estimated at more than $13 billion (12 billion euros). He has previously denied having close ties with Putin.
Source:reuters.com
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