In March 2022, following Russia's conflict initiation, billionaire Roman Abramovich joined prominent Russian officials, including President Vladimir Putin, civil servants, and influential businessmen and oligarchs, on the EU sanctions list. The EU cited Abramovich's "long-term and close relationship" with Putin and claimed that this relationship allowed Abramovich to preserve his significant wealth from the actions of corrupt Russian politicians responsible for the annexation of Crimea or Ukraine destabilization.
While nearly 1,800 individuals and organizations have been added to EU sanctions lists, causing restricted travel and frozen assets, Abramovich filed a lawsuit with the European Court of Justice (ECJ) in May 2022 to overturn this decision. He maintained that the EU's assessment contained "glaring errors" and that the decision to list him was a "breach of fundamental rights" and an "unjustified intrusion" into his EU-protected rights.
According to the Luxembourg court, Abramovich requested the EU to pay 1 million Euro (1.1 million GBP) to a charitable foundation created following the sale of Chelsea Football Club to offset its reputation damage. However, it remains unclear if this request was granted.
Roman Abramovich announced in March 2022 that he would sell Chelsea Football Club and establish a charity to use the net proceeds for the benefit of Ukraine conflict victims. In May 2022, Chelsea was sold for 5 billion US dollars to a consortium led by Todd Boehly, with 3.08 billion US dollars earmarked for Abramovich's charity organizations.
During a recent parliamentary committee hearing, U.K. Minister Leo Doherty revealed that the sale proceeds were frozen on British bank accounts, and the government was currently undergoing a process to establish an independent charity management program. When asked about the use of funds within Ukraine or for Ukrainian expatriates, Doherty emphasized that the government hoped to expedite the distribution of funds to aid Ukrainians within Ukraine as soon as possible.
Aside from EU sanctions, Abramovich also faces sanctions in the United Kingdom. Known for his past ownership of the legendary Chelsea Football Club, the EU sanctions extend beyond travel and asset restrictions, also affecting Abramovich's interest in Chelsea FC.
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