UK government threatens legal action against Abramovich over Chelsea sale proceeds - PRESS AI WORLD
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UK government threatens legal action against Abramovich over Chelsea sale proceeds

Credited from: REUTERS

  • The UK government threatens to sue Roman Abramovich regarding funds from Chelsea's sale.
  • £2.5 billion from the sale is frozen, with disputes about its use ongoing.
  • UK insists funds should only go to humanitarian aid in Ukraine, while Abramovich seeks broader use.
  • Negotiations have stalled, prompting potential legal action from the UK authorities.

The UK government has threatened to take legal action against former Chelsea Football Club owner Roman Abramovich to ensure that the £2.5 billion (approximately $3.4 billion) in proceeds from the club's sale is directed solely toward humanitarian efforts in Ukraine. The funds have been frozen in a UK bank account since Abramovich was sanctioned following Russia's invasion of Ukraine in February 2022. The UK authorities have expressed frustration at the lack of progress in negotiations with Abramovich, who argues that the proceeds should benefit "all victims of the war in Ukraine," including those in Russia, according to BBC.

The UK government, represented by Chancellor Rachel Reeves and Foreign Secretary David Lammy, has stated they are "determined" to ensure that the funds reach humanitarian causes within Ukraine, reflecting a broader European stance pressing for accountability from Moscow for the ongoing destruction caused by the war. They have indicated their willingness to pursue this matter through the courts if negotiations fail, recognizing that the current situation is unacceptable. "The government is deeply frustrated that it has not been possible to reach agreement on this with Mr. Abramovich so far," they said in a joint statement, according to Reuters and Channel News Asia.

Abramovich, who was granted a special license to sell Chelsea during the sanctions, was unable to access the sale proceeds due to the restrictions imposed on his assets. The proceeds remain legally under his control but cannot be used without a license from the UK’s Office of Financial Sanctions Implementation. The ongoing legal tussle highlights the complex intersection of sports, finance, and international law amidst the geopolitical turmoil resulting from the Russian invasion of Ukraine, as noted by multiple sources including BBC, Reuters, and Channel News Asia.

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