June 3 – The UK government has threatened to sue former Chelsea Football Club owner Roman Abramovich to ensure the proceeds from the club’s sale are directed to Ukraine.
“The Government is determined to see the proceeds from the sale of Chelsea Football Club reach humanitarian causes in Ukraine, following Russia’s illegal full-scale invasion,” said British Chancellor Rachel Reeves and Foreign Secretary David Lammy in a joint statement.
The £2.5bn in proceeds have been frozen in a UK bank account since the sale. Abramovich, a Russian billionaire who acquired the Russian club in 2003, was sanctioned after Russia’s full-scale invasion of Ukraine in February 2022. Abramovich is alleged to have strong ties to Russian President Vladimir Putin.
With a special licence, Abramovich sold the club to an American-led consortium in May 2022. While the U.K. insisted that the money should support humanitarian efforts inside Ukraine, Abramovich suggested it would be used to assist “all victims of the war in Ukraine,” including those in Russia.
“While the door for negotiations will remain open, we are fully prepared to pursue this through the courts if required,” said the statement. “We are deeply frustrated that it has not been possible to reach agreement on this with Mr Abramovich so far.”
Abramovich has challenged the EU sanctions against him, but the Court of Justice of the European Union (CJEU) ruled against his claim for compensation, stating that the sanctions were not an “unjustified and disproportionate infringement of his fundamental rights.”
Contact the writer of this story, Samindra Kunti, at moc.l1749100455labto1749100455ofdlr1749100455owedi1749100455sni@i1749100455tnuk.1749100455ardni1749100455mas1749100455