Roman Abramovich has assets worth $7 bn frozen in tax haven Jersey

More than $7 billion of assets linked to Roman Abramovich were frozen by authorities in the English Channel tax haven of Jersey, in the latest crackdown on offshore wealth held by sanctioned Russian billionaires.

The Jersey Royal Court imposed a freezing order on the assets, the local government said in a statement Wednesday. At the same time, police executed a search warrant on premises “suspected to be connected” to him.

Abramovich was sanctioned by the European Union and the U.K. last month as part of sweeping penalties against tycoons believed to be close to Russian President Vladimir Putin. Western measures against Abramovich