The United Kingdom has frozen assets belonging to two Russian oligarchs worth up to 10 billion pounds (US$13 billion).
The actions against Eugene Tenenbaum and David Davidovich, two close associates of the better-known Russian billionaire Roman Abramovich, represent the largest asset freeze action in British history.
The asset freeze came one day after authorities on the offshore tax haven island of Jersey froze assets valued at more than $7 billion that are also suspected of being connected to Abramovich. This brings the combined value of the frozen assets to as much as $20 billion.
Officials said the Jersey judgement against Abramovich and the British actions against Tenenbaum and Davidovich were coordinated.
The Channel Island of Jersey has long served as a secretive offshore corporate tax haven where some of the world’s wealthiest people hide their assets via mazes of shell companies.
Source: CNBC
