Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Iran: Fars News Agency: A woman and her 6-year-old son were killed in an Israeli drone attack on Kermanshah Province
Iran: IRNA: Attack Wave 21 was not carried out, and the operation carried out minutes ago was from Yemen against targets in the occupied territories
Sirens are sounding in Tel Aviv and surrounding areas
Israeli military command: We identified missiles launched from Iran
Tunis: The legitimacy created by World War II is crumbling and the future belongs to free peoples of the world
Tunis: We emphasize that the aggression against Iran should not obscure other ongoing crimes, the first of which is the war of extermination against the Palestinian people
Tunis: International legitimacy does not permit or justify aggression against Iran under any cover or title
Tunisia: Foreign Ministry: We call for an end to the aggression against our sister country, Iran, and we do not limit ourselves to condemning the Zionist and American attacks
Iran: Nur News: An Israeli aerial assault is targeting the region of Parchin, east Tehran
Iran: Iranian TV: Iranian air defenses shot down an Israeli Hermes 900 drone over Markazi Province, central Iran

UK warns of lawsuit against Abramovich over Chelsea sale funds

  • By Al Mayadeen English
  • Source: Bloomberg
  • 3 Jun 2025 13:12
3 Min Read

The UK is considering legal action to access £2.34 billion in frozen funds from Roman Abramovich’s Chelsea FC sale to support humanitarian aid for Ukraine.

Listen
  • x
  • Chelsea soccer club owner Roman Abramovich at a match between Chelsea FC and FC Barcelona, in Gothenburg, Sweden, Sunday, May 16, 2021 (AP)
    Chelsea soccer club owner Roman Abramovich at a match between Chelsea FC and FC Barcelona, in Gothenburg, Sweden, Sunday, May 16, 2021. (AP)

The UK government has indicated that it may pursue legal action against billionaire Russian businessman Roman Abramovich to secure the release of £2.34 billion ($3.2 billion) from the proceeds of his sale of Chelsea football club, Bloomberg reported on Monday.

According to the Bloomberg Billionaires Index, Abramovich, whose net worth exceeds $8 billion, sold the London-based football club in May 2022 to a consortium led by American investor Todd Boehly, following sanctions imposed on him by Britain and the European Union due to his alleged ties to Russian President Vladimir Putin.

For the past three years, the funds from the sale have remained frozen in a UK bank account, as they cannot be accessed or transferred without approval from Britain’s Office of Financial Sanctions Implementation, a division of the Treasury responsible for enforcing financial restrictions.

Over the years, multiple UK governments have maintained that the frozen funds should be allocated toward humanitarian assistance for Ukraine, while attempting to reach a mutual agreement with Abramovich to direct the money toward these relief efforts.

Related News

Kepa replaces injured Courtois on season-long loan to Real Madrid

Pierre-Emerick Aubameyang sings three-year deal with Marseille

UK considers legal actions against Abramovich

In a Monday night statement, the UK government stated that all attempts to reach an agreement with Abramovich had failed and that legal action was now being considered as a potential next step.

Foreign Secretary David Lammy and Chancellor of the Exchequer Rachel Reeves issued a joint statement expressing the government's firm commitment to ensuring that the funds from Chelsea FC's sale are directed toward humanitarian relief in Ukraine, particularly in light of what they called Russia's unlawful invasion. They also conveying their significant disappointment that no mutual understanding with Mr. Abramovich has yet been achieved.

“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,” they said in the statement.

In 2022, the UK government authorized approximately £200,000 from the frozen funds to cover legal and administrative expenses for setting up a charitable organization and engaging specialists to design a strategy for allocating the remaining money.

Acting CEO Mike Penrose informed Bloomberg in 2023 that the proposed foundation would concentrate on humanitarian initiatives aimed at providing medical assistance, educational support, and shelter programs for Ukrainian civilians affected by the conflict.

The UK government has collaborated with both the European Commission and Portuguese authorities, where Abramovich holds citizenship, to maintain sanctions enforcement and decide how to allocate the funds, though this coordination has presented significant logistical and legal challenges.

  • Chelsea
  • United Kingdom
  • Russian frozen assets
  • Roman Abramovich

Most Read

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

  • MENA
  • 17 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

  • Politics
  • 18 Jun 2025
Israeli workers survey the site where a missile launched from Iran struck in Haifa on Sunday, June 22, 2025. (AP)

True Promise 3, wave 20: 40 missiles launched, Kheibar-Shekan in first

  • Politics
  • 22 Jun 2025
Iran launches missile barrage to Tel Aviv, casualties reported

True Promise 3, wave 14: Tel Aviv targeted, casualties reported

  • Politics
  • 19 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Secretary of Iran's Supreme National Security Council Ali Shamkhani, speaks with then-Syrian Prime Minister Imad Khamis in a meeting in Tehran, Iran, Tuesday, January 17, 2017 (AP)
Politics

Iran holds the initiative after nuclear strikes, Shamkhani says

Blood stains a religious painting inside Mar Elias Church, where a suicide bomber detonated himself in al-Dwela, on the outskirts of Damascus, Syria, on Sunday, June 22, 2025 (AP)
Politics

UN, regional governments condemn Damascus church bombing

A B-2 bomber arrives at Whiteman Air Force Base Missouri, Sunday, June 22, 2025, after returning from a massive strike on Iranian nuclear sites on Saturday (AP)
Politics

Israeli media: US-Israeli strike on Iran failed to end war

China UN Ambassador Fu Cong addresses the United Nations Security Council, Monday, March 24, 2025. (AP Photo/Richard Drew)
Politics

China slam US strikes on Iran nuclear sites

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS