Brussels extends sanctions on oligarch and Chelsea owner Roman Abramovich

The Russian businessman recently removed from the management of Chelsea Football Club, Roman Abramovich, has joined the European blacklist of Russian oligarchs close to Vladimir Putin who have been sanctioned by Brussels. Thus, in addition to the measures adopted by the British government on Thursday 10 March, when it announced the freezing of his assets, the disqualification of his businesses and the seizure of part of his property, European sanctions have been added this week in the fourth round of punitive measures: a ban on entering EU territories and the blocking of all his financial capital in the EU-27 institutions. 

Abramovich amassed a fortune that Forbes lists at over $14.5 billion through investments and the steel sector, benefiting from Boris Yeltsin's massive privatisations after the collapse of the USSR. Indeed, in 2008, at the end of his term as governor of Russia's Chukotka district, Abramovich officially stood as Russia's richest man. 

Now, after the announcement of the sanctions, several sources testify that the oligarch is travelling around the world in his private jet "Gulfstream G650ER", registration number "LX-Ray", valued at almost 60 million dollars. According to the Reuters news agency, the plane travelled the short distance between Ben Gurion airport in Tel Aviv, Israel, and the Turkish city of Istanbul yesterday, without having spent even 24 hours in Hebrew territory, and after having taken off from Moscow last Sunday. 

In this scenario, the hypothesis is that the Russian oligarch is on board the Gulfstream G650ER. Israeli Foreign Minister Yair Lapid pointed out that "Israel will not be a way to circumvent the sanctions imposed on Russia by the United States and other Western countries", without mentioning Abramovich directly. In an effort to prevent members of Putin's inner circle from circumventing sanctions, Tel Aviv has set a 24-hour limit on the maximum time private planes can stay at the country's airports. 

Lapid also reported that banking, financial and aviation authorities were working in coordination to resolve the issue.

Roman Abramovich's personal wealth, like that of so many other oligarchs, is spread across the territories of several different countries. One of the most important jewels in his crown is the world's second largest yacht, the "Eclipse", which at over 533 feet long is worth almost $400 million, although this has not prevented him from amassing a large collection of luxury cars, private jets and a multitude of high-end real estate. 

In the UK alone, Abramovich owns a six-storey townhouse in Eaton Square, valued at around 33 million euros; a three-storey penthouse in the Chelsea Waterfront building; and a 15-bedroom mansion, valued at over 180 million euros, located in the Kensington-Chelsea area, the most luxurious area of West London. To get an idea of the size of the latter, measuring more than 9,000 m2, in 1998 it was divided into nine different flats, and today it is one of the most expensive residences in London.

In addition, the Russian oligarch has owned the British team at Stamford Bridge for almost two decades, and has accumulated significant stakes in the Russian steel giant, Norilsk Nickel Mining and Metallurgical Company. 

Despite Abramovich's inclusion on a list drawn up by the US Treasury in 2018 listing the 210 Russian oligarchs likely to be sanctioned by Vladimir Putin's decisions, Roman had not yet been penalised. However, his very extensive list of wealthy holdings seems to have begun to dwindle with the arrival of European, British and, recently, Canadian sanctions. 

"He was one of the few oligarchs of the 1990s who had maintained his prominence under Putin. None of our allies had yet sanctioned Abramovich," the British government said in the statement announcing the decision to take action against him. Now, in addition to the economic sanctions - which in the UK mean the freezing of assets equivalent to almost 18 billion euros - and real estate sanctions, there are now also thoughts about his grand Kensington mansion in Chelsea.

"I want to explore an option that would allow us to use the homes and properties of sanctioned individuals for humanitarian purposes. There's a pretty high legal bar to cross and we're not talking about permanent confiscation," proposed the English MP, Michael Gove. "You are sanctioned, you are supporting Putin, and this house is here, you have no right to use it or profit from it. So as long as you are not using it or profiting from it, if it can be used to help others, let's do it," he added, referring to housing Ukrainian refugees arriving in the UK in the large mansion.

Finally, one of the most controversial moves against Abramovich was his dismissal as owner and director of Chelsea Football Club, just as the oligarch was in the midst of negotiations to sell the club. Precisely because the process had already begun, Chelsea is now protected from sanctions by a special licence that allows it to continue to fulfil its commitments, but prohibits the sale of tickets, the opening of the official shop or participation in the transfer market.

But the stance of a large part of the fans is far from that of the English authorities. After nearly two decades as Chelsea's owner and the winning of 21 major trophies - including five Premier Leagues, two Football Associated Cups and two Champion Leagues - the news of the sale of the club raised a huge wave of adulation among fans. The schism of disagreement was highlighted during the match at Burnley on 5 March, when the minute's tribute to Ukraine was interrupted by loud chants of "Abramovich". 

"It's not a time to give other messages, it's a time to show respect. We do this because this is who we are as a club: we show respect as a club. We need our fans to commit to this minute of applause at the moment because we do it for Ukraine, and there is no second opinion about the situation there," Chelsea manager Thomas Tuchel criticised after one of the matches.