Bloomberg learned about Abramovich’s attempts to sell real estate in London

Russian businessman Roman Abramovich, shortly before sanctions were imposed against him, tried to sell two properties in London – a mansion in Kensington and a penthouse on Chelsea Embankment, informs Bloomberg citing sources. The agency notes that Abramovich will not be able to sell these assets while he is under British sanctions.

“[Абрамович] also unable to sell its stake in Evraz, its largest listed asset prior to the conflict. Shares in the company, which was sanctioned by the UK in May, fell 87% this year before being frozen shortly after Abramovich himself was placed on the government’s sanctions list.

However, the businessman managed to sell the Chelsea football club, which he bought in 2003 for 140 million pounds. The cost of the deal, approved by the UK government, was 4.5 billion pounds. At the same time, part of the proceeds went to support the victims in Ukraine.

Abramovich is the largest but not the controlling shareholder Evraz, he owns 28.64% of the shares. His partners in the holding are Alexander Abramov (19.32%), Alexander Frolov (9.65%) and others. Abramovich is in the top 20 richest Russians according to Forbes. According to the rating for 2022, his fortune is estimated at $6.9 billion.

On March 10, Abramovich was included in the UK sanctions list. At the same time, the country’s Financial Conduct Authority announced the suspension of the listing Evraz on the London Stock Exchange. After that, all non-executive directors, including Frolov and Abramov, left the company’s board of directors. Two months later, in May, the British government also included the mining and metallurgical holding in the sanctions list, explaining this by the fact that the company works in industries that are strategically important for Russia.

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