REVEALS: Roman Abramovich has a large stake in the Russian steel company, whose materials are used to make the TANKS that are invading Ukraine … analysts say the Chelsea owner transferred his shares eight days before the invasion
- Roman Abramovich has stakes in a Russian company whose steel helps build tanks
- Chelsea owner allegedly transferred his shares in Evraz to himself last month
- Analysts say the transfer could make them less vulnerable to financial sanctions
- Abramovich has business interests in Ukraine and can afford a protracted war
Roman Abramovich has a large stake in the Russian steel company, whose materials are used for the production of tanks
Roman Abramovich has a large stake in the Russian steel company, whose materials are used to make the tanks that are invading Ukraine.
Analysts say that Chelsea the owner transferred its shares in Evraz, the Russian steel giant, directly to itself from an offshore company on February 16, eight days earlier Vladimir Putin ordered the invasion of Ukraine.
Grzegorz Kuczynski, director of the Eurasia Program at the Warsaw Institute, told Sportsmail that the reported transfer of a 28.64 percent stake from Virginia-registered Greenleas International Holdings Ltd could make it less vulnerable to sanctions following the invasion. He added that this could also facilitate the sale of the stake. The value of the shares fell after Putin’s troops invaded Ukraine.
Kuczynski said: “There was a risk that this offshore company would be subject to sanctions. Evraz steel is used to build tanks, among other things. In this sense, the company is important for the Russian arms industry. It is important for Russiamilitary plans of ‘, including with regard to Ukraine.’
The Warsaw-based think tank for international relations in Eastern Europe is unsure whether Abramovich also owns shares in Russian oil giant Rosneft after investing nearly £ 225 million in shares when it was launched in 2006.
Russian tanks – pictured in Belarus last month – were used by President Vladimir Putin in his full-scale military invasion of Ukraine
Rosneft is one of Russia’s largest crude oil producers and another major supplier to its military. Rosneft’s website, which includes details of the company, was unavailable from the United Kingdom on Tuesday.
Understandably, Abramovich used Jewish ties in Ukraine to try to mediate peace talks between Russia and the invading country.
Abramovich has significant business interests in Ukraine, with an Evraz plant in the Donbass region since 2010. He can afford a protracted war and sanctions designed to stifle the Russian economy because he has invested so much in it.
But opinion in Kyiv on Tuesday was that his quest for talks was in vain. Russia is pushing for international recognition of Crimea, the preservation of the lands it occupied during the invasion, and a change of Ukrainian government.
None of these demands is acceptable to Ukraine, which in turn wants Russian troops to leave the country and exchange prisoners of war and dead troops. But Russia does not acknowledge that there are prisoners of war and dead troops to exchange.
Analysts told Sportsmail that the transfer of shares could make it less vulnerable to sanctions following Putin’s invasion of Ukraine.
Abramovich has significant business interests in Ukraine and can afford a protracted war
Abramovich announced on Saturday that “management and care” for Chelsea is being provided to trustees of the club’s charity foundation.
But Sportsmail understands that the six trustees will push for a solid insurance policy before agreeing to the plan, some of which are extremely dangerous.
One of the main conditions that the trustees would insist on is compensation for any financial consequences that the club may suffer while in charge.
Chelsea are aware of the challenges they may face in persuading trustees and are believed to be exploring other options, including setting up a holding company to take over management responsibilities.
Abramovich’s spokesman did not respond to Sportsmail’s request for comment Tuesday night.
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