'I do not hold assets for Mr. Abramovich,' Canadian sanctioned by U.K. says

Eugene Tenenbaum, a Canadian citizen who has been sanctioned by the United Kingdom because of his association with Roman Abramovich, said Wednesday that he doesn't have any assets for the Russian or his family.

Tenenbaum, who came to Canada as a teenager in the mid-1970s from Ukraine, is an accountant by training and began working for Abramovich at his oil company in the late 1990s.

The association between the two men continued after Tenenbaum became a director of the club.

He has been associated with several companies.

The United Kingdom and other western countries have imposed sanctions on Russian entities and individuals in order to pressure Russia to pull out of its attack on Ukraine.

The U.K. extended its sanctions to Tenenbaum and David Davidovich as part of a sweep intended to freeze. Davidovich and Tenenbaum have not faced sanctions in Canada.

I am not the owner of these companies nor the beneficiary of the assets these companies possess nor have I ever been

Eugene Tenenbaum

In a statement Wednesday, Tenenbaum said he has worked for the family for more than 20 years, including as a director for several companies.

I don't hold assets for Mr. Abramovich or his family, and I am not the owner of these companies.

When the U.K. imposed sanctions on him, Tenenbaum was not an active director.

In March, Tenenbaum bought a company that was associated with Russia's invasion of Ukraine, and before the United Kingdom imposed sanctions on Russia.

Tenenbaum told the Financial Post last month that he had bought Ervington from a trust that was controlled by Davidovich.

When he made the deal to acquire Ervington, Tenenbaum said that the family of Abramovich was no longer the beneficial owner.

Tenenbaum said in an email last month that his company was no longer the shareholder due to the current situation.

When the U.K.'s sanctions were expanded to include Tenenbaum, a Global Affairs Canada spokesman wouldn't say if the Canadian citizen was under consideration for sanction.

I do not expect to be reprimanded as my statement makes very clear, Tenenbaum told the Financial Post on Wednesday.

The European Union and the U.K. have imposed sanctions on the Russian businessman, but he has not been hit with sanctions in the US. It has been reported that the U.S. held off because of the negotiations that were taking place between Russia and Ukraine.

The billionaire made a lot of his fortune selling his energy company to Russian state-owned energy giant Gazprom.

The Russian billionaire is the largest shareholder of the London-based steel company, with a 28.64 per cent stake. The company's shares were suspended from trading in March after the U.K. imposed sanctions.

Email: bshecter@nationalpost.com