Monday, October 3, 2022

Abramovich moves private jet and relocates yacht as EU sanction Chelsea chief

The West has continued to crank up the pressure on Chelsea owner Roman Abramovich as the EU plans to impose fresh sanctions while he has relocated his private jet and yacht

Abramovich moves private jet and relocates yacht as EU sanction Chelsea chief
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Thomas Tuchel on his future at Chelsea

Chelsea owner Roman Abramovich has moved his private jet and relocated his yacht as he is set to face fresh sanctions from the EU.

The West London club are desperate to secure a new owner amid a budget crisis, with their funds dictated by the British government in the wake of the sanctions imposed on Blues owner Roman Abramovich.

The billionaire has had his assets frozen in the UK in the wake of Russia’s ongoing invasion of Ukraine, although he continues to deny any links to president Vladimir Putin.

On Saturday, the Premier League confirmed they had suspended Abramovich as director of the club.

The Blues are now operating under a special license – severely limiting their revenue streams – and shirt sponsors Three have suspended their partnership, worth £40million per annum.

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Roman Abramovich is facing fresh sanctions from the EU
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REUTERS)

As per Reuters, Abramovich’s private plane was in Israel on Monday and due to depart later in the day, less than 24 hours after it arrived.

A British transport ministry source said on Friday that Britain was searching out helicopters and jets belonging to the sanctioned oligarchs, including Abramovich – who holds both Israeli and Portuguese citizenship.

It is claimed that the jet was recently in Turkey but flew from Moscow to Israel on Sunday, although there is no evidence that Abramovich was on board the flight.

Abramovich’s yachts left UK ports last week while a report in Diario Sport claim his property has left Barcelona for Montenegro, which falls outside the EU’s jurisdiction.

The yacht, which is also known as The Solaris, is believed to have been hurried out of Barcelona to Montenegro, in an attempt to evade Western Europe.

Currently, Montenegro is not a part of the EU, but it is believed to be planning on becoming a member in 2025.

For the time being, this could make the Eastern European country a safe haven for Abramovich, who has already seen Chelsea taken away from him.

Abramovich is set to face sanctions from the EU, which means that his assets could be taken and frozen – including if his yacht is in EU water.

Russian billionaires have faced sanctions, frozen state assets and have been cut off much of the Russian corporate sector from the global economy as they attempt to force Russian President Putin to change course on his invasion on Ukraine.

The EU are also planning extra restrictions on importing steel, with Abramovich the largest shareholder for steel-mining business Evraz Plc.

Evraz has released a statement claiming the business does not consider Abramovich – who has a 28.6% stake in the company – to be “a person exercising the effective control” of the company and said that sanctions applied by the UK and Canada don’t apply to the company itself.

Chelsea are desperate to secure new ownership as soon as possible as they continue to feel the impact of the UK government’s sanctions on Abramovich’s assets.

Barclays have also suspended the club’s bank account and there’s a possibility the Blues could face financial armageddon between now and the summer due to the precarious situation.

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Nation World News Desk
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