UK threatens to sue Abramovich over Chelsea sale

The UK government has issued a strong warning to Roman Abramovich, the former owner of Chelsea Football Club, threatening legal action to ensure that the money from the club's sale is used to support Ukraine. The sale of Chelsea Football Club brought in 2. 5 billion pounds, but this money has been frozen in a UK bank account due to sanctions placed on Mr. Abramovich following Russia's full-scale invasion of Ukraine in February 2022. While Mr. Abramovich has expressed a desire for the funds to assist all victims of the war, including those in Russia, the UK government insists that the money should be directed solely towards humanitarian aid within Ukraine.

In a joint statement, Chancellor Rachel Reeves and Foreign Secretary David Lammy emphasized that although negotiations remain open, the government is fully prepared to take the matter to court if necessary. They stressed the urgency of ensuring that those suffering in Ukraine receive help from the sale proceeds as soon as possible. The government expressed frustration over the delay in reaching an agreement with Mr. Abramovich and reiterated its determination to see the funds used for humanitarian causes in Ukraine following Russia's illegal invasion.

Roman Abramovich, a Russian billionaire who made his fortune in the oil and gas industry, was granted a special license to sell Chelsea Football Club under the condition that he would not benefit financially from the sale. Despite allegations of close ties to Russian President Vladimir Putin, which he denies, Mr. Abramovich cannot access the 2. 5 billion pounds due to UK sanctions, although the money legally remains his. When announcing the sale, he stated that the proceeds would be donated through a foundation to benefit all victims of the war in Ukraine, including those in Russia. However, the UK government has pushed back, arguing that the funds should be used exclusively for humanitarian efforts inside Ukraine. A House of Lords committee criticized the ongoing impasse, calling it 'incomprehensible' that Mr. Abramovich's promise to support Ukraine has not been fulfilled and that the assets remain frozen. The committee also noted that the situation reflects poorly on both Mr. Abramovich and the government, which should have secured a more binding commitment.