WAR! What is it good for?

Abramovich could call in his £2bn loan from Chelsea if his assets are seized.

https://www.forbes.com/sites/davidd...2-billion-loan-to-chelsea-fc/?sh=43241aee1be7

 

Oooo this is exciting now

 

It makes no difference, if sanctions are brought in against him, no money from any source will be allowed to move. It would be like saying I've got a $2 billion dollar cheque but not being able to cash it, in short a worthless piece of paper.

 

Just let me get excited about Chelski no longer existing

 

of course there is the other scenario, if no money is able to move anywhere, would players and other employee's still get paid, if the answer to that is no, then they might as well shut up shop.

 

According to that Forbes article, Abramovich could call in his personal loans if his assets are frozen

''Maguire describes the loans as leverage against any significant attack on his assets. “The club does not have the resources to pay the money back,” Maguire says. “If Chelsea was sold, ultimately you sell for enterprise value. Whether this money goes in the form of equity or debt is irrelevant. But the club, potentially, could be on the hook here because he could demand the money back.” Maguire says Abramovich could effectively argue that his assets are frozen, he needs the money, “and then the club ceases to be.”

 

All Ukrainian men aged 18-60 are banned from leaving. The women, elderly and children are allowed to leave as refugees into neighbouring Poland and Romania.

 

He can call them in, yes, but no bank is going to cash it, any bank that moves any money for people that are sanctioned would be breaking the law and heavily fined.

If we are merely suggesting this kicks Chelsea in the bolloxs, then yes that would be correct.

 

I was thinking about this earlier. And what I would do in this situation. I've got a wife and 8 year old daughter. There's no way I'd want them anywhere near any fighting, as as reluctant as I'd be to send them away, I'd do that and stay and fight.

 

I guess it depends where he's got that money. I'd presume it's with Fordstam who are Chelsea's parent company. As far as I know they are a UK registered company, so yes, they wouldn't be able to give him his cash if UK levied sanctions on him.

 

As the Chelsea owner been sanctioned yet do we know?

I'm assuming no. But even anyone linked to the owner could be sanctioned, if the person at the top of the tree is sanctioned, it also freezes anyone else on the same branch of the business. So if someone tried to send goods to Russia, and someone could prove that the benficiary is a sanctioned person, that is not allowed.

 

If he's sanctioned, anything linked to his name is fooked. So if you were his business partner, you would be fooked to, because they would have to check anything you do, is not benefiting him.

 

My concern is that the UK govt have for years allowed all sorts of dirty Russian money to be laundered in London. At best they've turned a blind eye to it and allowed the banks and financial institutions operate without the proper checks and balances that should be in place to monitor money linked to Putin.

And of course corporations and individuals have been allowed to stash their vast wealth in offshore accounts and tax free havens dotted around the world

I wouldn't be surprised if any Sanctions levied on Russian Oligarchs by the UK would be negated by the loopholes that this Govt have allowed the banks and institutions to create for those with vast wealth

 

My understanding is everyone should be subjected to a check every three years at the minimum, more frequently for certain categories.

So for example you run a business, so you would be subject to a check by whoever you bank with. They will be looking that you are not trading with these countries that I've just copied from google:

Currently, sanctioned countries include the Balkans, Belarus, Burma, Cote D'Ivoire (Ivory Coast), Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, and Zimbabwe. The list of sanctioned countries is updated periodically and is available here. (This might be a US list actually).

Now what I don't know is how the lists to be checked are generated. Does it include everyone who banks with a specific UK bank, or does the government have other rules around Russian Oligarchs, which excludes them from the checks, sadly I don't know the answer to that.

Do remember though, if you are sanctioned by the UK, the EU and the US will probably follow suit. But you are right in highlighting, I suspect as you suggest there are loopholes, which possibly exclude these Oligarchs.

 

Tbh neither have ever needed any excuse to do that.

They just shrug shoulders, talk a bit about human shields, precision bombing. and then carry on.

 

I think the old adage 'Money talks' is pertinent here.

If you've got the cash, and you're willing to grease the right palms, then I suspect you have been allowed to move money wherever and with whoever you like

 

Yeah we have no way of knowing what goes on in the background. I think that list I put up was a US rather than a UK list, but you get the idea anyway.

 

Russia reportedly has £650billion in reserves.

Pretty sure Putin's costed the losses in. All Oligarchs and the likes of Abramovich will be underwritten for all losses.

I doubt he would've got the go ahead (from the oligarchs) without it..

 

I think we have a pretty good idea of what goes on in the background given the vast wealth moved around the world, hidden in complex company ownership structures, designed to avoid tax and proper scrutiny. Along with the whole industry of tax and financial advisers that facilitate the hiding of this wealth from that scrutiny.

That's not limited to any country btw, they're all at it. Shady as ****

 

The Oligarchs fall into two categories:

1. If you have access to the British Government you are deemed as a friend by Putin.
2. If you have taken money for your own personal gain, you are a traitor of Russia.

I wonder what category the Chelsea owner falls in, if it's the latter, he's fooked.