Portugal has frozen Roman Abramovich's $10m estate for sale ahead of invasion - report.
Chelsea owner Roman Abramovich tried to sell his $10 million Portuguese property days before the start of the invasion of Ukraine. Portugal's second-largest bank drew the authorities' attention to the deal. According to a new report, Abramovich's property was frozen on March 25.
Portuguese authorities have frozen Roman Abramovich's property after he tried to sell it 15 days before the Russian invasion of Ukraine. This was first reported by the Portuguese newspaper Publico. Abramovich, whose assets include superyachts such as the 533-foot, $700 million Eclipse and the 456-foot, $600 million Solaris, has been mediating between Russia and Ukraine and was allegedly poisoned.
It has been sanctioned by the European Union, Britain, Canada, Australia and Switzerland, while the United States is still discussing the possibility of such sanctions.
26 October
Governments have difficulty identifying the assets of Russian oligarchs, so Portugal has taken time to identify the owner of the property. According to Publico, Millhouse Views LLC, an international company set up in Abramovich's name, is controlled by Millhouse LLC, an investment holding company owned by the Russian tycoon.
According to the report, the company tried to sell the property about two weeks before the invasion of Ukraine began, but Caixa Geral de Depositos, Portugal's second-largest bank, alerted authorities. Portugal's Ministry of Foreign Affairs has frozen the property since March 25.
Abramovich has lost half his fortune after a Jersey court froze $7 billion of his assets. He still owns stakes in Russian steel giants Evraz and nickel producer Nornickel and, according to Forbes, his fortune is estimated at nearly $9 billion. The former Chelsea owner, who recently agreed to sell the soccer club to American businessman, investor and philanthropist Todd Bowley, said all net proceeds would go to help Ukraine.
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