The UK government announced it is ready to take legal action against former Chelsea Football Club owner Roman Abramovich to ensure that £2.5 billion from the club’s sale will be used for humanitarian causes in Ukraine.
British Chancellor Rachel Reeves and Foreign Secretary David Lammy said in a joint statement that the government is determined to see the proceeds from the sale of Chelsea Football Club reach humanitarian initiatives in Ukraine, following Russia’s full-scale invasion. The £2.5 billion raised from the May 2022 sale to an American-led consortium has remained frozen in a UK bank account since then.
Roman Abramovich, a Russian billionaire who made his fortune in oil and gas, was sanctioned by the UK government in March 2022 for alleged links to Russian President Vladimir Putin. While the UK insists the funds should support humanitarian efforts in Ukraine, Abramovich suggested the money should help “all victims of the war in Ukraine,” including those in Russia.
“We are deeply frustrated that it has not been possible to reach agreement on this with Mr Abramovich so far,” the UK government’s statement said. “While the door for negotiations will remain open, we are fully prepared to pursue this through the courts if required, to ensure people suffering in Ukraine can benefit from these proceeds as soon as possible.”
Following Russia’s invasion in February 2022, Abramovich was granted a special license to sell Chelsea, which he had owned since 2003, on the condition that he would not benefit financially from the sale.
In December 2023, Abramovich challenged EU sanctions against him and sought €1 million in compensation for damage to his reputation. The Court of Justice of the European Union (CJEU) rejected his claim, ruling that the sanctions were not an “unjustified and disproportionate infringement of his fundamental rights.”
