UK government threatens Abramovich over Chelsea sale proceeds

In the United Kingdom, Roman Abramovich, the former owner of Chelsea Football Club, faces legal action from the British government regarding the proceeds from the club's sale. The sale, which occurred in May 2022 for £2.5 billion, has resulted in frozen funds that the government wishes to utilize for humanitarian aid to victims of the war in Ukraine. The UK government imposed sanctions on Abramovich following Russia's invasion of Ukraine, emphasizing the importance of these funds to be redirected toward helping those affected by the conflict. With frustration stemming from the lack of agreement with Abramovich on accessing the funds, Chancellor Rachel Reeves and Foreign Secretary David Lammy have stated their commitment to pursue legal recourse if necessary to ensure that the humanitarian needs in Ukraine are met. The funds are currently held in a UK bank account and cannot be used without a license from the Office of Financial Sanctions Implementation. Although Abramovich indicated that the net proceeds would be directed to a charitable foundation for war victims, the money remains inaccessible, prolonging the potential aid to those suffering from the ongoing conflict. The government remains open to negotiations but is determined to see progress made, reflecting the urgency of addressing the humanitarian crisis that has emerged due to the war.