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Another blow to Roman Abramovich, this time in America

SS&C Globe Op, a company that provides financial services to its hedge fund clients, said it has blocked accounts attributed to Roman Abramovich. As a result, Abramovich’s efforts to divest her proved fruitless, he writes

According to the Wall Street Journal, Abramovich has been trying to sell his assets in various funds in secondary markets in recent weeks with the help of New York-based Concorde. This was also supported by fund managers because they wanted to get rid of a sanctioned investor. Some hedge fund managers have even considered forcing Abramovich to invest.

Previous sanctions, such as those against Iran, Syria or North Korea, have affected asset managers to a much lesser degree. But Russian investors have a close and extensive relationship with hedge funds.

Saturday in the Premier League Roman Abramovich was denied the presidency of Chelsea Football Club in London. According to a brief announcement by the English Football League’s top division, the precedent for the decision to dismiss the club manager is that the UK government has recently imposed sanctions on the owner of Russian club Chelsea.

The Premier League board said in a statement on Saturday that Chelsea may continue to train and play their upcoming matches following his decision to become Abramovich’s manager, as permitted by a separate license issued by the British government until May 31.

Editorial photo: MTI/EPA/Jean-Christophe Bott

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