EU deputies branded the UK a shame for the fact that it has so far failed to “privatize” a single serious asset of the Russian oligarchs.
Even though the Prime Minister, Boris Johnson, showed his usual messy hair in a threatening manner, it seems that the clever Russian billionaires took advantage of the sanctions delay and bought bitcoins, making it hard to track their path.
Due to the operation in Ukraine, the European Union threatened to seize Russian assets, which includes those owned by the oligarchs totaling $455 billion. However, the oligarchs managed to move their assets away from enemy shores to countries like the Maldives and Montenegro, which do not have extradition treaties with the United States.
For instance, while the EU was implementing sanctions, businessmen moved their yachts to places like the Maldives and Montenegro, which do not have extradition treaties with the United States. It is unlikely that these yachts traveled empty and not loaded with belongings. Real estate, on the other hand, cannot be seized, but the EU is in no hurry to take action against them.
Anything is possible
The Israeli-Portuguese ex-governor of Chukotka, Roman Abramovich, who managed to avoid sanctions, is now a prominent figure in the UK due to his significant investments in the country's economy.
Abramovich has owned the Chelsea football club for nearly 20 years and now wants to sell it for £3bn, but might accept £2.2bn. He fears that his British assets may be frozen, although no freezing has occurred yet.
Labour’s Chris Bryant criticized the decision not to take action against Abramovich, accusing Boris Johnson of weakness and expressing frustration over the lack of action taken against the Kremlin oligarch's assets. He also suggested banning Christie’s and Sotheby’s from selling items connected to supporters of the Russian regime.
In 2018, the anti-crime agency attempted to press charges against the owner of Chelsea, but backed down due to concerns that Roman Abramovich could sue the government if the accusations were not proven.
Matters of national importance
Foreign Secretary Elizabeth Truss is occupied with addressing claims from lawyers representing the oligarchs. According to a senior sanctions lawyer, the oligarchs are aiming to distract the minister from national matters to gain time and sell assets.
A government insider revealed that UK authorities have faced challenges in the legal and investigative identification of the assets of sanctioned individuals. The process of confirming that the assets belong to the right individuals takes time, frustrating Elizabeth Truss, who wants to take action against Roman Abramovich quickly. Additionally, assets, including London real estate, are being sold for 200 million pounds following Chelsea.
