UK Issues Legal Ultimatum to Abramovich Over Chelsea Sale
(MENAFN) The UK government has issued a legal ultimatum to Roman Abramovich, the former owner of Chelsea Football Club, demanding that the £2.5 billion from the club’s sale be directed toward humanitarian aid in Ukraine.
Since the sale, the substantial funds have remained frozen in a UK bank account due to sanctions imposed on Abramovich following Russia’s full-scale invasion of Ukraine in February 2022.
While the government insists that the proceeds be allocated to support Ukrainians affected by the conflict, Abramovich has stated his preference for the money to benefit "all victims of the war in Ukraine."
In a joint statement, Chancellor Rachel Reeves and Foreign Secretary David Lammy declared: "While the door for negotiations will remain open, we are fully prepared to pursue this through the courts if required."
They emphasized the urgency of releasing the funds, stating their goal is "to ensure people suffering in Ukraine can benefit from these proceeds as soon as possible."
The statement continued: "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.”
"We are deeply frustrated that it has not been possible to reach agreement on this with Mr Abramovich so far."
The standoff over the funds stems from ongoing disputes between the UK government and Abramovich’s legal team.
Abramovich, a Russian billionaire with wealth tied to oil and gas industries, was granted a special licence permitting the sale of Chelsea, provided he could demonstrate he would not profit from the transaction.
He has been accused of close connections to Russian President Vladimir Putin, an allegation he denies.
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