By Chris King •
Updated: 09 Jun 2022 • 5:18
French Finance Ministry officials in Paris confirmed yesterday, Wednesday, April 13, that they had seized a stunning villa on the French Riviera belonging to Russian billionaire, Roman Abramovich. ‘Chateau de la Croe’ is worth an estimated €108m (£90m), and is located in Cap d’Antibes.
The property was confiscated as part of the ongoing purge against oligarchs with ties to Vladimir Putin. A ministerial source confirmed, ‘There are 33 properties that have been frozen, including a dozen belonging to Abramovich’.
Adding, ‘They include homes, superyachts, and helicopters, and add up to well over €25billion (£20billion). It is all part of the programme of sanctions being brought against Russia in response to its invasion of Ukraine’.
Abramovich is believed to have spent around €36m (£30m) on restoration work in 2001 after the 55-year-old bought the lavish property. The secluded villa is hidden among 12 acres of woodland, and was once a holiday home used by the Duke and Duchess of Windsor.
After being involved in a poisoning scare following his role as a mediator in peace talks between Russia and Ukraine, Abramovich has rarely been seen out and about. He is thought to currently be in Moscow.
The billionaire also had assets frozen on Jersey, in the Channel Islands, worth an estimated €6.5bn (£5.4bn). As the tiny island falls under UK jurisdiction, police on Jersey searched the premises as they were thought to belong to Abramovich’s business empire.
A statement from the Jersey Law Officers’ Department said, ‘The Royal Court also imposed a formal freezing order on 12 April, known as a saisie judiciaire, over assets understood to be valued in excess of US$7bn which are suspected to be connected to Mr Abramovich, and which are either located in Jersey or owned by Jersey incorporated entities’, as reported by metro.co.uk.
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Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news.
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