Russian billionaire Roman Abramovich has launched a stunning legal offensive against the UK government, accusing ministers of mishandling the massive £2.3bn proceeds from his forced sale of Chelsea Football Club.
The substantial funds have been frozen in a UK bank account for nearly two years since the government imposed sanctions against the oligarch following Russia's invasion of Ukraine. The money was supposed to be directed to humanitarian causes in Ukraine, but Abramovich's legal team claims the government has created "legal and policy uncertainties" preventing the funds from reaching their intended destination.
Diplomatic Standoff Over Billions
Court documents reveal escalating tensions between the former Chelsea owner and Whitehall officials. Abramovich's representatives argue that the government's handling of the situation has been inconsistent and lacks clear direction, leaving one of the largest football club sale amounts in history in bureaucratic limbo.
"Nearly two years on from the sale, we're seeing a complete breakdown in communication between the parties," a source close to the matter revealed. "The funds are sitting idle while both sides point fingers over who's responsible for the delay in distributing the money to war victims."
Humanitarian Intentions Questioned
While the UK government maintains the money must be used exclusively for Ukrainian humanitarian efforts, Abramovich's legal team contends that the current arrangement lacks proper safeguards and transparency. They're pushing for the establishment of a foundation that would ensure the funds reach their intended beneficiaries without political interference.
The situation represents one of the most high-profile financial consequences of the UK's sanctions regime against Russian individuals with alleged ties to the Kremlin. The frozen Chelsea proceeds have become a symbolic battleground in the wider geopolitical conflict playing out through economic measures.
Government sources have indicated they intend to vigorously defend their position, setting the stage for a protracted legal battle that could test the boundaries of the UK's sanctions authority and have significant implications for future asset freezes.
