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Ladybbird · 03-06-25, 16:03

UK Govt Threatens to Sue Russian Oligarch Abramovich to Release Frozen Money From Chelsea FC Sale

Russian Oligarch Abramovichs forced sale of Chelsea raised $3.4 billion

By REUTERS 3 June 2025

The British government has said it is fully prepared to take Russian businessman Roman Abramovich to court to help release frozen funds from his sale of Chelsea soccer club that were intended to help victims of Russias war in Ukraine.

Britain sanctioned Abramovich in a crackdown on Russian oligarchs after Moscows 2022 invasion of Ukraine, triggering a rushed 2.5 billion pound $3.4 billion sale of the club on condition that the money would be used to create a humanitarian charity.

The money has been frozen in a British bank account because of a disagreement between Abramovich and the government over how the money should be spent, according to people with knowledge of the matter.

They said Britain wants the funds spent only in Ukraine in line with a wider European push for Moscow to foot the bill for the deaths and destruction caused by its full scale invasion but Abramovich wants the money to go to all victims of the war.

British finance minister Rachel Reeves and foreign minister David Lammy said in a joint statement the government was ready to take Abramovich to court.

We are deeply frustrated that it has not been possible to reach agreement on this with Mr Abramovich so far, they 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.

03-06-25, 16:03	#1
Ladybbird Join Date: Feb 2011 Posts: 50,613 Thanks: 28,767 Thanked 14,428 Times in 10,234 Posts Awards Showcase Total Awards: 8	UK Govt May Sue Russian Oligarch Abramovich For Money From Chelsea FC Sale UK Govt Threatens to Sue Russian Oligarch Abramovich to Release Frozen Money From Chelsea FC Sale Russian Oligarch Abramovichs forced sale of Chelsea raised $3.4 billion By REUTERS 3 June 2025 The British government has said it is fully prepared to take Russian businessman Roman Abramovich to court to help release frozen funds from his sale of Chelsea soccer club that were intended to help victims of Russias war in Ukraine. Britain sanctioned Abramovich in a crackdown on Russian oligarchs after Moscows 2022 invasion of Ukraine, triggering a rushed 2.5 billion pound $3.4 billion sale of the club on condition that the money would be used to create a humanitarian charity. The money has been frozen in a British bank account because of a disagreement between Abramovich and the government over how the money should be spent, according to people with knowledge of the matter. They said Britain wants the funds spent only in Ukraine in line with a wider European push for Moscow to foot the bill for the deaths and destruction caused by its full scale invasion but Abramovich wants the money to go to all victims of the war. British finance minister Rachel Reeves and foreign minister David Lammy said in a joint statement the government was ready to take Abramovich to court. We are deeply frustrated that it has not been possible to reach agreement on this with Mr Abramovich so far, they 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.