UK Insists Sale Proceeds from Abramovich's Chelsea be Diverted to Aid Ukraine Conflict Casualties
Title: UK Threatens Legal Action Over Roman Abramovich's Chelsea Sale Proceeds
Author: Rory SullivanPlatforms: Facebook Twitter Flipboard Send Reddit Linkedin Messenger Telegram VK Bluesky Threads Whatsapp
Wanna know the beef between the UK government and Roman Abramovich? Here’s the lowdown!
Russian oligarch Roman Abramovich has been ordered to cut the crap by the UK government over the £2.5 billion (€2.97bn) proceeds from his sale of the beloved Chelsea Football Club. Those dough-nuts are supposed to help out the innocent folks suffering from Russia's relentless war on Ukraine now in its fourth year.
"We're fucking fierce about making sure that moolah from the Chelsea sale goes to Ukraine victims, following Russia's full-scale, illegal invasion," Chancellor Rachel Reeves and Foreign Secretary David Lammy declared in a joint statement.
"We're fuckin' ticked off that we couldn't reach an agreement with Abramovich on this shit so far," they added. "But don't worry, we're ready and raring to take him to court if we have to, just so the people in Ukraine can collect that cash as fast as they can!"
Abramovich, who's squirming away from accusations that he's Putin's right-hand man, was shipped sanctions after Moscow's 2022 full-scale invasion of Ukraine. He sold the London-based club in May 2022 to a crew led by US investor Todd Boehly and Clearlake Capital. The UK government allowed him to unload the club, but only if he didn't reap a cent from the deal himself.
The £2.5bn net proceeds have been wrapped up tight ever since, but still legally belong to Abramovich. Those Benjamins can't skedaddle without a license from the UK Office of Financial Sanctions Implementation.
Insight: The British government has frozen the £2.5 billion proceeds from Roman Abramovich's sale of Chelsea Football Club, stating that the funds should go exclusively towards humanitarian causes in Ukraine to hold Russia accountable for its invasion's devastation. However, Abramovich has requested flexibility in deciding where the funds should be spent, including for victims outside of Ukraine.
Sidenote: The UK has been a key ally to Ukraine since Putin's invasion, with London pledging an extra £4.5bn (€5.34bn) in military assistance in January 2023.
Related:
- Abramovich re-appeals Ukraine-linked EU sanctions
Three years after Abramovich sold the club, the UK government is threatening him with lawsuits due to the ongoing dispute about where the money should be allocated. While the British government insists that all the money should be devoted to Ukrainian war victims, Abramovich has proposed that it should benefit all victims of the Ukraine conflict, including those in Russia.
- This dispute over the allocation of funds from Roman Abramovich's Chelsea Football Club sale Comes amidst ongoing policy-and-legislation discussions regarding war-and-conflicts, specifically the ongoing crisis in Ukraine.
- The heated discussions between Abramovich and the UK government over the proceeds from the Chelsea sale are not only a matter of politics but also intertwine with crime-and-justice issues, as the funds are tied to humanitarian assistance and sanctions against Russia.
