The property in question is located in the Algarve region in southern Portugal. According to the publication, two weeks before the start of Russia’s military operation in Ukraine, Millhouse Views LLC, owned by Abramovich’s investment holding, tried to sell the house. However, the Portuguese state banking corporation Caixa Geral de Depósitos reported this to the police. Since March 25, property registration has been frozen at the request of the Portuguese Foreign Ministry.
Sanctions against Abramovich
March 10 UK introduced sanctions against Abramovich. The British authorities banned the businessman from entering the country, and also froze all his assets in the state, including the Chelsea football club and a multi-million dollar real estate portfolio. The reason for these measures in London was called the proximity of the billionaire to Russian President Vladimir Putin, as well as the benefits he received from ties with the authorities. Later, similar restrictions on the billionaire introduced European Union and Switzerland.
how wrote British newspaper The Guardian, citing a source in the French Ministry of Finance and Economy, London seized 10 properties owned by Abramovich, including the Château de la Croë estate on Cape d’Antibes. The building was built in 1926 and then restored by Abramovich after the purchase in 2001. how pointed out Lenta.ru, the acquisition of the estate cost the Russian £90 million, and its restoration another £30 million.
Then, in mid-April, the authorities of the island of Jersey – the British crown dependency in the English Channel and one of the largest offshore companies in the world – frozen assets of Roman Abramovich worth more than $7 billion. In addition, the Royal Court of Jersey authorized searches at facilities that may be “related to the business activity” of the Russian entrepreneur.
According to Bloomberg, Abramovich’s net worth is approximately $14 billion. If the data is correct, then the Jersey authorities have frozen approximately half of the billionaire’s property in monetary terms.
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