Many wealthy businessmen use the island to register their assets.

The court of the Jersey Island located in the English Channel has frozen assets related to Russian billionaire Roman Abramovich with a total value of more than $ 7 billion.

This is about half of his estimated condition.

This is reported by Bloomberg.

Jersey is the crown possession of Elizabeth II, the island is not part of the United Kingdom, but fulfills the financial sanctions announced by the British government.

The UK added Abramovich to the sanctions list in early March, accusing him of participating in the destabilization of Ukraine or benefiting from proximity to the Russian government.

Jersey is a large offshore company, there is no corporate tax, capital gains tax and wealth tax on the island, and many wealthy businessmen use it to register their assets.

Abramovich has long-term ties with the island, Bloomberg notes, but the search for his property on the island proves that the pressure on the offshore fortunes of Russian businessmen will increase. Representatives of the billionaire did not respond to the agency’s request.