Billions of dollars in assets thought to belong to Russian oligarch Roman Abramovich have reportedly been seized in the Channel Islands. Search warrants were executed at premises in Jersey, the largest of the Channel Islands, on Tuesday, with the Royal Court issuing an order to freeze “assets understood to be valued in excess of US$7 billion which are suspected to be connected to Mr Abramovich and which are either located in Jersey or owned by Jersey incorporated entities,” the Bailiwick Express reports. The Chelsea FC owner was named as the most wealthy resident of the islands back in 2018. Now, however, he is under EU and U.K. sanctions in connection with Russia’s invasion of Ukraine.