Chelsea owner, Roman Abramovich has large shareholding in the Russian steelmaking firm making materials used to make the tanks invading Ukraine, experts claim
Chelsea owner Roman Abramovich is believed to have a major stake in the Russian steelmaker, whose materials experts say are used to make the military tanks invading Ukraine.
The Russian billionaire transferred his stake in Russian steel giant EVRAZ directly to himself from an offshore company on February 16, eight days before Vladimir Putin ordered the invasion of Ukraine.
Analysts have told Sportsmail that the transfer of the 28.64% stake in Greenlees International Holdings Ltd, registered in the Virgin Islands, could make them less vulnerable to post-invasion sanctions. It could also make it easier to sell shares. Stock prices have fallen since Putin attacked Ukraine.
Grzegorz Kuczynski, director of the Eurasia program at the Warsaw Institute, told Sportsmail: “There was a risk that this offshore company would become a target of sanctions. Evraz steel is used, among other things, to build tanks. The company is vital for the Russian defense industry in this respect. It is crucial for Russia’s war plans, including with regard to Ukraine. “
But the opinion of the Kyiv grounds on Tuesday was that the exercise is completely pointless because there is no commonality between invasive and invaded bases.
Russia demands international recognition of Crimea, the preservation of all the lands it occupied during this invasion, and the Ukrainian government’s removal. None of these demands are acceptable to Ukraine.
Ukraine wants Russian troops to leave their country and for there to be an exchange of prisoners of war and dead soldiers. But Russia does not recognize that prisoners of war and dead soldiers are to be exchanged.
Abramovich announced on Saturday that Chelsea’s “management and care” would be entrusted to the trustees of the club’s charitable foundation.
However, Sportsmail understands the six directors will insist on a solid insurance policy before approving the 55-year-old’s plan, and some of them are still highly concerned about management’s approval.
One of the main conditions the directors would insist on is that strong liability insurance is carried to ensure that they are not liable for any financial impact the club may suffer during their tenure.
Chelsea is aware of the problems it may face in persuading directors and is exploring other options, including setting up a holding company to take on management responsibilities.
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