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Abramovich’s U.S. hedge fund investments frozen- WSJ -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Roman Abramovich, Russian billionaire and owner Chelsea Football Club arrives at the High Court division in central London on October 31, 2011. REUTERS/Andrew Winning/

(Reuters) – U.S. hedge fund firms with investments in Russian oligarch Roman Abramovich were told by the Wall Street Journal to stop using his assets following British sanctions.

Britain has frozen assets and placed a travel ban against the Russian owner Chelsea’s soccer club. Six other senior Russians were also affected by President Vladimir Putin’s invasion of Ukraine.

Fund administrator SS&C Globe Op said in a message to one hedge-fund firm that accounts attributed to Abramovich are blocked from transacting, the Journal said on Friday, citing people familiar with the instructions.

SS&C was monitoring the situation for guidance from the U.K. Treasury, the Office of Financial Sanctions Implementation and the Cayman Islands Monetary Authority, the report added.

SS&C did not immediately respond to a request for comment.

The Journal reported that similar messages were sent to other funds.

Canada imposed sanctions Friday on Five Russian Individuals, including Abramovich. It also banned 32 Russian Government entities and Companies from receiving Defense Equipment or Supplies from Canada.

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