A CANADIAN national with known business links to Russian oligarch Roman Abramovich who was granted high-net-worth residency status to live in Jersey has been sanctioned by the UK government.
Eugene Tenenbaum – a financier and director at Chelsea FC – is one of two people to have been sanctioned on Thursday and is reported to be one of Mr Abramovich’s closest associates. The JEP revealed this year that Mr Tenenbaum owns two flats near St Aubin’s Village worth a combined £3.5m.
The other is David Davidovich, who reportedly told UK media this week that he is the director of MHC Jersey Ltd and the owner of one of Mr Abramovich’s super-yachts.
Although confirmation that Jersey will issue the same sanctions against the pair has not yet been made, the government has said that it will follow the sanctioning measures imposed by the UK ‘in lock-step’.
On Wednesday, police officers raided Jersey premises believed to be connected to the business activities of sanctioned Russian oligarch Roman Abramovich.
In a separate move as part of global efforts to seize assets linked to those close to President Vladimir Putin, the Royal Court has also imposed a formal freezing order in relation to $7 billion of assets which are suspected to be connected to the former Chelsea FC owner and are either located in Jersey or held by Jersey businesses.
Mr Abramovich, who is estimated to be worth £14 billion, was sanctioned by the UK and Jersey on 10 March as part of the international response to Russia’s invasion of Ukraine.
External Relations Minister Ian Gorst said at the time that ‘the Government of Jersey continues to stand alongside the UK and international partners and has implemented all UK and UN sanctions deployed in response to Russia’s actions against Ukraine’.
In a statement, the UK foreign office said: ‘The government announces [the] UK has sanctioned Eugene Tenenbaum and David Davidovich. Action against Roman Abramovich’s longstanding business associates will freeze assets estimated to be worth up to £10 billion. The measures, combined with others announced to date, cut key revenue sources for Putin’s war machine.’
Foreign Secretary Liz Truss said: ‘We are tightening the ratchet on Putin’s war machine and targeting the circle of people closest to the Kremlin. We will keep going with sanctions until Putin fails in Ukraine. Nothing and no one is off the table.’
The Foreign Office added that corporate filings showed that Mr Tenenbaum took control of Ervington Investments Ltd, an Abramovich-linked investment company, on 24 February immediately following Russia’s invasion of Ukraine.
The JEP revealed earlier this year that Mr Tenenbaum had been granted high-net worth status and owns a property in Jersey. In 2018, this paper exclusively revealed that Mr Abramovich was given his housing qualifications but he never actually moved to the Island.
Mr Abramovich owns Fordstam, a company registered at Chelsea FC’s Stamford Bridge home that loans money to the Premier League side. Fordstam has received funds from Camberley International Investments – a firm registered at 50 Colomberie. Financial records show that Mr Tenenbaum has been a director at Fordstam.
