European Union adds Russian oligarch to updated list of individuals facing asset freeze and travel sanctions over their role in Russian invasion of Ukraine
European Union adds Russian oligarch to updated list of individuals facing asset freeze and travel sanctions over their role in Russian invasion of Ukraine
The European Union imposed sanctions on Chelsea football club boss Roman Abramovich on Tuesday as part of a new package of measures targeting Russia and close allies of President Vladimir Putin.
The European Union added the Russian oligarch to its updated list of individuals facing asset freezes and travel sanctions over their role in the Russian invasion of Ukraine.
Abramovich, 55, has already been punished by Prime Minister Boris Johnson’s government in Britain last week. The aluminum magnate was among seven wealthy Russians whose assets were frozen under British sanctions in response to Russia’s invasion of Ukraine.
Abramovich has also been suspended as director of the Premier League club.
The European Union said Abramovich had “privileged access to the (Russian) president, and maintains a very good relationship with him. This relationship with the Russian leader helped him maintain his considerable wealth.”
The European Council added 15 individuals and nine entities to its list of approved people and bodies.
According to the 27-nation bloc, Abramovich’s relationship with Mr Putin helped him maintain his fortune, while the economic activities of the oligarch provided substantial revenues to the Russian government.
“He is a major shareholder of the steel conglomerate Average, one of Russia’s largest taxpayers,” the European Council said. “So he is profiting from the Russian decision-makers responsible for the annexation of Crimea or the destabilization of Ukraine.”
In addition to his Russian passport, Abramovich also holds Portuguese citizenship, so it was unclear how the travel ban within the EU would affect his ability to move freely in the region.
The EU sanctions against Abramovich were announced a day after a BBC investigation revealed new evidence about alleged corrupt deals that made the Russian businessman’s fortune.
According to the BBC, Abramovich earned billions in 1995 after buying an oil company from the Russian government in a rigged auction. The broadcaster said it paid about $250 million for Sibneft, before selling it back to the Russian government in 2005 for $13 billion.
Abramovich’s lawyers said there was no basis for alleging that he acquired enormous wealth through criminality.
Following a meeting of EU heads of state and government last week, the bloc decided to implement a fourth package of measures in retaliation for Russia’s aggression.
The European Council said it decided to approve “prominent oligarchs, lobbyists and campaigners pushing the Kremlin’s narrative on the situation in Ukraine”.
The sanctions imposed on Abramovich are also affecting his football club. Under British government action, Chelsea will operate with a special “Russia Regulations” license until the end of this season, which prohibits teams from selling new tickets or merchandise or signing new players, among other restrictions.
The club’s future was already in doubt before Abramovich, whose $2 billion investment in Chelsea over 19 years that had turned the team into a force in European football, was approved. He put the club up for sale amid growing calls to ban a man the government has dubbed a “pro-Kremlin oligarch” linked to “destabilizing … weakening and threatening” Ukraine.
EU officials said the bloc has no plans to ban Chelsea.