Business

Abramovich’s US hedge fund investments frozen – WSJ

FILE PHOTO: Russian billionaire and Chelsea football club owner Roman Abramovich arrives at a division of the High Court in central London
FILE PHOTO: Russian billionaire and Chelsea soccer club owner Roman Abramovich arrives at a division of the High Court in central London October 31, 2011. REUTERS/Andrew Winning/

March 12, 2022

(Reuters) – Some US hedge fund firms that have investments in Russian oligarch Roman Abramovich have been ordered to freeze his assets after Britain imposed sanctions on him, the Wall Street Journal reported on Friday.

Britain froze assets and along with six other senior Russians on Thursday imposed a travel ban on the Russian owner of Chelsea football club over its links to President Vladimir Putin and his invasion of Ukraine.

Fund manager SS&C Globe Op said in a message to a hedge fund firm that accounts attributed to Abramovich are blocked for transactions, the Journal said Friday, citing people familiar with the instructions.

SS&C is monitoring the situation for advice from the UK Treasury, the Office of Financial Sanctions Implementation and the Cayman Islands Monetary Authority, the report added.

SS&C did not immediately respond to a request for comment.

Other funds have received similar news, according to the Journal.

Canada on Friday imposed sanctions on five Russian individuals, including Abramovich, and bans 32 Russian companies and government agencies from receiving defense equipment or supplies from Canada.

(Reporting by Akanksha Khushi in Bengaluru; Editing by Cynthia Osterman)

https://www.oann.com/abramovichs-u-s-hedge-fund-investments-frozen-wsj/?utm_source=rss&utm_medium=rss&utm_campaign=abramovichs-u-s-hedge-fund-investments-frozen-wsj Abramovich’s US hedge fund investments frozen – WSJ

DUSTIN JONES

USTimeToday is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@ustimetoday.com. The content will be deleted within 24 hours.

Related Articles

Back to top button