UK territory freezes $7 billion in assets suspected of being linked to Roman Abramovich.

In an email, Mr Tenenbaum said he had recently resigned as director of Matterhorn and Bradfield. He added: “The matter is with the lawyers. So I can’t comment.

Last week, authorities in the Cayman Islands, a British territory in the Caribbean, said financial services providers there froze $7.3 billion in assets belonging to Russians who faced sanctions.

Cayman officials have not disclosed who owns these assets, but the islands have long been a hub of operations for offshore funds managed by US hedge funds and private equity firms. Mr. Abramovich is believed to have invested billions of dollars in hedge funds and private real estate-focused companies in the United States, The New York Times reported.

Concord Management, a small investment advisory firm in Tarrytown, NY, played a key role in arranging investments in Mr. Abramovich’s hedge fund and private equity. The firm, however, said it recommends funds but does not directly handle client money. Concord, over the past two decades, is believed to have helped arrange investments for Mr Abramovich in dozens of real estate-focused hedge funds and private equity firms.

The financial pressure on him, however, does not come from officials in the United States. Although British authorities imposed sanctions on Mr. Abramovich, the United States did not, in part because he acted as an intermediary in negotiations between Ukraine and Russia. The actions in Jersey and the Cayman Islands – two British territories – reflect the important role these localities play in managing the fortunes of the oligarchs.

Matterhorn Capital has been linked to Mr. Abramovich for about two decades, with a corporate structure representative of the chain of front companies that wealthy Russians have used to hide their ownership and complicate authorities’ efforts to trace their assets.

Originally incorporated in the Cayman Islands in 1999, Matterhorn was reincorporated in the British Virgin Islands in 2002. A year ago, Matterhorn was again moved and incorporated in Jersey. Records show that along with Mr. Tenenbaum, two executives from Zedra, a global business services company, also served as directors of Matterhorn. A spokesperson for Zedra, which has an office in Jersey, declined to comment.

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