UK threatens to sue Abramovich over Chelsea sale

The UK govt has threatened to sue former Chelsea Football Club proprietor Roman Abramovich to verify the cash from the membership’s sale is going to Ukraine.

The £2.5bn in proceeds had been frozen in a UK checking account because the sale, with Mr Abramovich sanctioned after Russia’s full-scale invasion of Ukraine in February 2022.

The UK govt desires the cash to be for Ukrainian humanitarian assist, however Mr Abramovich has stated he desires it to visit “all victims of the war in Ukraine”.

In a joint observation, Chancellor Rachel Reeves and Foreign Secretary David Lammy stated: “While the door for negotiations will remain open, we are fully prepared to pursue this through the courts if required.”

They stated they sought after “to ensure people suffering in Ukraine can benefit from these proceeds as soon as possible”.

They added: “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 pissed off that it has now not been imaginable to succeed in settlement in this with Mr Abramovich to this point”.

The extend in liberating the price range centres on a confrontation between the United Kingdom govt and his attorneys.

Mr Abramovich – a Russian billionaire who made his fortune in oil and gas – was granted a special licence to sell Chelsea following Russia’s invasion of Ukraine, providing he could prove he would not benefit from the sale.

He is alleged to have strong ties to Russian President Vladimir Putin, something he has denied.

He cannot access the £2.5bn sale proceeds under UK sanctions but the money still legally belongs to him.

When he announced his decision to sell the club, he said proceeds from the sale would be donated via a foundation “for the advantage of all sufferers of the warfare in Ukraine”, which would include those in Russia.

The UK government has pushed back and argued that the funds should only be spent on humanitarian efforts inside Ukraine.

A House of Lords committee said last year said it was “incomprehensible” that Mr Abramovich’s promise to use the funds to support Ukraine remained unfulfilled, and that the assets remained frozen.

“This deadlock displays badly on each Mr Abramovich and the federal government, which should have driven for a extra binding dedication,” the record stated.