EPL on Citi: UK threatens to sue Abramovich over Chelsea sale

The UK government plans to sue Roman Abramovich, former owner of Chelsea Football Club. They want to ensure the £2.5 billion from the club's sale goes to Ukraine. This money has been frozen in a UK bank account since the sale. Abramovich was sanctioned after Russia invaded Ukraine in February 2022.

The government aims for the funds to support Ukrainian humanitarian aid. However, Abramovich wants the money for "all victims of the war in Ukraine." Chancellor Rachel Reeves and Foreign Secretary David Lammy stated they are ready to pursue legal action if necessary.

They emphasized their goal is to help those suffering in Ukraine quickly. The government is determined that proceeds from Chelsea's sale reach humanitarian causes there. They expressed frustration over not reaching an agreement with Abramovich so far.

The delay stems from disagreements between the UK government and Abramovich's lawyers. He received a special license to sell Chelsea after Russia's invasion, but he must prove he won't benefit from it. Abramovich has denied having strong ties to Russian President Vladimir Putin.

He cannot access the £2.5 billion due to UK sanctions, but legally, it still belongs to him. A House of Lords committee criticized last year that his promise to support Ukraine remains unfulfilled while assets stay frozen. They noted this situation reflects poorly on both Abramovich and the government for not securing a binding commitment.