Russian flagship in the Black Sea Moskva drowns

On Thursday, the UK government sanctioned two of its close aides oligarchs Roman Abramovich, freezing $13 billion in the process.

The UK government has said businessmen Eugene Tenenbaum and David Davidovich have had their assets frozen. Soon after the Russian invasion of Ukraine, control of at least two of Mr. Abramovich’s associated investment vehicles was transferred to the two men’s control. A spokeswoman for Mr. Abramovich did not respond to a request for comment.

The British government said the sanctions were coordinated with it Action by the Jersey Court Earlier this week, it had frozen more than $6.5 billion in suspected assets linked to Mr. Abramovich. The UK government said $13 billion in assets it had frozen was on top of those frozen in Jersey.

Mr. Tenenbaum is a manager at the Chelsea FC football team, which Mr. Abramovich is trying to sell. Corporate filings say he is Canadian and resides in Jersey. Mr. Davidovich is Israeli and resides in Georgia.

Both men worked closely with the Russian oligarchy for years.

The Wall Street Journal previously reported that hours after Russia invaded Ukraine, control of Norma Investments Ltd., an investment vehicle long associated with Mr. Abramovich, was transferred to Mr. Davidovich. Meanwhile, another investment vehicle owned by Norma was sold to Mr. Tenenbaum. According to the British government, control of this investment vehicle, called Ervington Investments, was subsequently handed over to Davidovich.

The lawyers say that transferring control of assets to business partners could, at least in the short term, avoid their exposure to penalties.

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