What Happens To Sanctioned Oligarchs' Assets?

The UK announced new sanctions yesterday relating to the Russian invasion of Ukraine, targeting seven oligarchs with links to Vladimir Putin. Among them is Roman Abramovich, the owner of Chelsea FC.

In todays video we try to answer three questions: Who owns Chelsea FC right now? What happens with the other Russian assets being seized around the world? And, what happens with Russian financial assets like stocks and bonds that westerners own that have stopped trading due to the new sanctions?

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[echtogammut]

The history of how the Oligarchs were able to rise and the auction off the former Soviet Union's assets would make a good video. It's a fascinating story.

[georgeo]

This channel is a complete hidden gem. Intelligent objective content presented concisely. Hope it grows!

[vlnow]

If soccer clubs are cultural assets why are they all available to the highest overseas bidder ?

[johnrogers]

Greatest respect for the broad context explanation, followed by analysis of detailed specifics of emerging legal particulars, then reapplying back to broad context. Doing this and maintaining the dry humour shows a genuine expert on top of their game. Many thanks.

[sparkzbarca]

You should do a video on the collapse of the nickel metals trading, the freeze on trading by the London metals exchange for the first time in like 150 years and the price rise from 25k a ton to 100k from Chinese short selling and a possible Chinese bail out using state nickel reserves to cover the short

[helenachase]

270, 000 subscribers !
I've been a fan since you were teaching college classes online.
You deserve this success Patrick, thanks for your great work.

[TonyT-fzod]

your content is the single best, most informative out there. thank you

[oneeleven]

If JP Morgan made a billion on there metals desk due to illegal practices but were only fined 100 million…does that mean they will have the other 900 million seised🤔…no thought not🤷‍♂️

[peterkops]

These fast tracked governmental laws always end up with terrible unforeseen consequences. Calm heads need to prevail.

[jw]

He has to be one of the all time great finance and economics journalist.

[ignorancebeater]

Everyone is cheering that Oligarchs are targeted and their assets seized without any warrant, and laws being "fasttracked" to do such things much easier.... until they'll do the same with you. It's stupefying how easily people are ready to toss out their laws and basic protections of property rights, in pursuit of some emo-based vengeance in targeting people whom are considered guilty by association.

"He sold steel that could be used to make tanks." Ermm... and would that have been a problem if Putin didn't invade Ukraine? No. So how would that, on itself, be a criminal act; are people selling steel to make USA tanks criminals too, then? I very much doubt any of these oligarchs actually could look into the head of Putin and know he was going to invade Ukraine even a mere two months ago, let alone years ago. It makes no sense. Even if they DID know about it in front, the "cure" our politicians came up with is much worse than the disease.

It's frightening how people just gleefully throw away basic tenets of our jurisdictional protections and right of personal property, just because they are swept away by the contemporary mood and the emotional wave of anti-Russian, or at least anti-Putin, sentiment. They fail to realize we're undermining ourselves in the long run far more than Putin. One just accepted the precedent of any state willy-nilly seizing anything they want, for any reason they want - and people are *cheering* it, because they can't make the distinction between this particular case, and the fact that once you make such a precedent, the principle of the matter is accepted as well. We're actually doing what an autocratic country - like Russia - would do, and slowly acting as Putin would, and we don't even realize it.

[uptoolate]

Mr. Boyle is amazing. He's concise, easy to understand and moves along at a good clip, although I listen at 1.5x. I learn a lot from this fantastic man that I'd have a hard time finding elsewhere.

[fdssd]

There is no more rule of law. The law is whatever the US decides is the law at the moment. Is the rule that you can seize the property of people who's country is at war? What law is this based on? Do these laws apply to other wars or just the wars that the US decides are bad? Having a contract doesn't make sense when the contract can be terminated at a whim.

Developing countries are going to move away from the dollar and swift if the US can decide that Columbia, Pakistan or Ecuador can be treated any which way they decide this week. How can a country have its reserves in dollars when those dollars can be sanctioned without any due process? These sanctions are put in place before the process, not after the process.

[leadingauctions]

This video answers a question I had not seen the answer to elsewhere.

[larry]

Civil asset forfeiture in the US does not require a warrant. Cash and property can be (and regularly is) seized for essentially no reason. Police take the assets and the owner must sue the government to get them back. This happens all the time to people that are never even charged with a crime, much less convicted. Do a Google search for “civil assett forfeiture”.

[RemiStardust]

11:06 "Football clubs are cultural assets and the bedrock of our community"
- cut to picture of cops beating up a fan or hooligan!

[johnpatrick]

Patrick where do live? The US Civil Asset Forfeiture does not require any evidence, warrant, or even require a person to be arrested, charged with a crime, or convicted because the person is not alleged to have committed a crime. Only a suspicion the asset is a result of a crime is required. The cops can take your stuff right on the street or in your car.

It is up to the citizen to sue to get back their property and legal bills run around $20k to start so if less than $20k is taken you are screwed. It is robbery by police and the police get to keep the property for their use. More assets were taken than all burglaries and larcenies committed in a year and more than all court-ordered asset seizures upon criminal convictions.


Guess who usually gets caught up in the theft. Well the US and Mexico claim they still can't find El Chapo's billions and he has been convicted.

[kingstilletto]

Concise and detailed. He takes time in putting his videos together professionally and unbiased.

[georgesteffey]

What a video. Very concise and comprehensive. I always learn something when I watch your channel!

[noneofyourbizness]

2:04
"..the soccer community..." shows image of a riot.