UK Government's Legal Action Against Abramovich for Chelsea Sale Proceeds Aims to Aid Ukrainian Humanitarian Efforts
ICARO Media Group
**UK Government Ready to Take Legal Action Against Abramovich Over Chelsea Sale Proceeds**
The UK government has stated its readiness to pursue legal action against former Chelsea Football Club owner Roman Abramovich to ensure that the funds from the club's sale are directed to humanitarian efforts in Ukraine. This comes in the wake of Russia's wide-reaching and illegal invasion of Ukraine.
In a joint statement, British Chancellor Rachel Reeves and Foreign Secretary David Lammy emphasized the government's resolve in ensuring that the £2.5 billion garnered from the sale of Chelsea Football Club goes towards aiding those affected by the invasion. Since May 2022, the substantial sum has been frozen in a UK bank account following the sale to an American-led consortium. This sale was necessitated by Abramovich's sanctions by the UK government due to his alleged ties to Russian President Vladimir Putin.
Despite the UK government’s firm stance that the funds should benefit humanitarian causes within Ukraine, Abramovich has suggested a broader use, proposing that the proceeds help "all victims of the war in Ukraine," including those in Russia. This disagreement has stalled the distribution of the funds.
The joint statement expressed frustration over the lack of agreement with Abramovich. The officials noted that while they remain open to negotiations, they are prepared to resort to legal measures to ensure the money is used to alleviate the suffering of those in Ukraine without further delay.
Abramovich, who acquired Chelsea in 2003, was compelled to sell the club under a special license post-invasion, on the condition that he would not benefit financially from the sale. In December 2023, Abramovich's attempt to challenge the EU sanctions and seek €1 million in damages for reputation loss was dismissed by the Court of Justice of the European Union. The court upheld the sanctions, indicating that they did not violate his fundamental rights.
As the situation stands, the UK government is poised to take all necessary steps, including court action, to ensure the frozen funds reach their intended beneficiaries in Ukraine.