All articles tagged with #roman abramovich
Originally Published 12 days ago — by BBC
Labour has criticized Tory shadow attorney general Lord Wolfson for representing sanctioned Russian billionaire Roman Abramovich, raising concerns about conflicts of interest related to the transfer of funds from Abramovich's Chelsea FC sale, which is delayed due to legal disputes and UK sanctions.
Originally Published 25 days ago — by BBC
The UK government is pursuing legal action against Roman Abramovich over frozen funds from Chelsea sale intended for Ukraine victims, amid ongoing political and economic developments including the UK's re-entry into the Erasmus program, a bidding war for Warner Bros Discovery, and military preparations for potential peacekeeping in Ukraine. The front pages also highlight protests, diplomatic tensions, and cultural heritage issues.
Originally Published 25 days ago — by ABC News
The UK has given Roman Abramovich a final deadline to transfer 2.5 billion pounds from the sale of Chelsea to Ukrainian war victims, emphasizing enforcement if he fails to comply, amid ongoing negotiations and frozen funds.
Originally Published 25 days ago — by Financial Times
Keir Starmer plans to transfer £2.5 billion from the sale of Roman Abramovich's Chelsea FC to support Ukraine, highlighting a political move to aid Ukrainian efforts amidst ongoing conflict.
Originally Published 7 months ago — by Reuters
Britain has threatened to sue Roman Abramovich over the 2.5 billion pounds from the sale of Chelsea, which was frozen due to sanctions related to Russia's invasion of Ukraine. The UK government aims to ensure the funds are used for humanitarian aid in Ukraine and is prepared to pursue legal action if necessary, while Abramovich seeks more flexibility on the use of the proceeds.
Originally Published 7 months ago — by politico.eu
The UK government is considering legal action against Russian billionaire Roman Abramovich concerning the funds from the sale of Chelsea Football Club.
Originally Published 1 year ago — by Business Insider
Media mogul Rupert Murdoch, 92, is set to marry for the fifth time, this time to Elena Zhukova, 67, who has ties to Russian oligarchs through her previous marriage to Alexander Radkin Zhukov and her daughter Dasha's marriage to Roman Abramovich. Abramovich, a confidant to Russian leader Vladimir Putin, has faced sanctions and had his assets seized due to his close ties with Putin. Dasha Zhukova is now married to Stavros Niarchos, the grandson of a Greek shipping tycoon.
Originally Published 2 years ago — by Forbes
London-based venture capital firm Target Global managed tens of millions of dollars for Russian oligarch Roman Abramovich, helping him invest in European startups such as Circ and Auto1. Leaked documents reveal that Abramovich's investments were made through Target Global and its special purpose vehicles, with loans provided to indirectly buy stakes in startups like Flo and Delivery Hero. Target Global has ties to other Russian oligarchs, including cofounder Alex Frolov's father, who was sanctioned for his ties to the Kremlin. Despite the sanctions, Abramovich has sought to overturn them, while his wealth has decreased due to international sanctions and Russia's slowing economy.
Originally Published 2 years ago — by CNN
The European Court of Justice has upheld the inclusion of Russian billionaire Roman Abramovich on the European Union's sanctions list following Russia's invasion of Ukraine. Abramovich had challenged his inclusion, claiming an "infringement of fundamental rights," but the court dismissed his case, stating that the EU did not err in its assessment. The court also rejected Abramovich's claim for compensation. The EU had placed Abramovich on the sanctions list due to his close ties to Russian President Vladimir Putin and his role as a major shareholder in a Russian steel and mining company. Almost 1,800 individuals and entities are currently on the EU's sanctions list.
Originally Published 2 years ago — by Forbes
Russian billionaire Roman Abramovich has failed to overturn European Union sanctions imposed on him following Russia's invasion of Ukraine. The General Court of the European Union rejected Abramovich's legal challenge, stating that he had failed to demonstrate that his inclusion on the sanctions list was unlawful. The court upheld the freezing of his assets and travel ban within the EU. Abramovich can appeal the ruling, but it is unclear if he will do so.
Originally Published 2 years ago — by Reuters
Russian billionaire Roman Abramovich has lost his legal challenge against European Union (EU) sanctions imposed on him following Russia's invasion of Ukraine. The EU court in Brussels rejected Abramovich's challenge and dismissed his claims for compensation, citing his role in the Russian steel company Evraz and the significant revenue it provides to the Russian government. Abramovich, who holds Israeli citizenship and is a former owner of Chelsea Football Club, expressed disappointment with the ruling, stating that the court had not considered certain arguments and that he had not benefited from the Ukraine war.
Originally Published 2 years ago — by CNBC
Russian billionaire Roman Abramovich has denied benefiting from the war in Ukraine after the European Union's General Court upheld sanctions against him. The court ruled that Abramovich, the majority shareholder in steel and mining group Evraz, provides a "substantial source of revenue" to the Russian government. Abramovich's representatives stated that he does not have the ability to influence any government's decision-making and has not benefited from the war. While disappointed with the ruling, they welcomed that the court did not consider certain arguments presented by the EU Council. Abramovich was targeted by the EU and the UK in March 2022, leading to the freezing of his assets and the sale of his ownership of Chelsea Football Club.
Originally Published 2 years ago — by CNN
The European Court of Justice (ECJ) will decide on Wednesday whether to remove former Chelsea owner Roman Abramovich from the European Union's sanctions list, which was imposed on him and other Russian officials following the invasion of Ukraine in 2022. The EU claims that Abramovich's close ties to Vladimir Putin allowed him to maintain his wealth and provide revenue to the Russian government. Abramovich has filed a case against the EU, arguing that his inclusion on the list violates his fundamental rights. He is also seeking €1 million in reputation damages to be donated to a charitable foundation for victims of conflicts. The UK government is currently working on establishing a foundation to manage the proceeds from the sale of Chelsea FC, which Abramovich intends to donate to benefit Ukrainians affected by the war.
Originally Published 2 years ago — by The New York Times
The Securities and Exchange Commission (SEC) has charged Concord Management, a small firm that managed billions in hedge fund and private equity investments for Russian oligarch Roman Abramovich, with operating as an unregistered investment adviser. The SEC alleges that Concord and its owner, Michael Matlin, earned tens of millions of dollars in fees for providing investment advice to Abramovich, who is described as a "wealthy former Russian official widely regarded as having political connections to the Russian Federation." The complaint states that Concord and Matlin should have registered as investment advisers in 2012 but failed to do so. The SEC also claims that Concord coordinated investment decisions with offshore entities controlled by Abramovich to keep his involvement hidden.
Originally Published 2 years ago — by The Times of Israel
Newly unearthed documents reveal that Russian-Israeli oligarch Roman Abramovich paid for an apartment in Tel Aviv that was believed to have been gifted by Vladimir Putin to his high school German teacher, Mina Yuditskaya-Berliner. The apartment deal shows financial ties between Putin and Abramovich, which the oligarch has previously denied. Yuditskaya-Berliner died in 2017, leaving the property to the Russian Federation. Abramovich has been under sanctions pressure since Putin’s invasion of Ukraine and has been seen in Israel several times since the war started.