The UK government will sue Russian oligarch Roman Abramovich to ensure that more than £2.3 billion ($3.2 billion) in proceeds from the sale of Chelsea football club is transferred to humanitarian needs in Ukraine.
Points of attention
- The British authorities, including Foreign Secretary David Lemmy and Chancellor of the Exchequer Rachel Reeves, are resolute in their aim to redirect the Chelsea sale funds for Ukraine's assistance amid Russia's invasion.
- The legal battle between the UK and Abramovich highlights the global repercussions of financial sanctions on individuals linked to political controversies and conflicts.
Britain is ready to fight in court for money for Ukraine
What is important to understand is that the Russian oligarch sold Chelsea to a consortium led by American investor Todd Boely 3 years ago.
This came after Abramovich was sanctioned by Britain and the European Union for his ties to Russian dictator Vladimir Putin.
In recent years, funds from the sale of Chelsea have been frozen in a bank account in the UK.
According to experts, they cannot be transferred or used without a license from the Financial Sanctions Enforcement Directorate, a division of the UK Treasury.
Only recently did it become known that official London was unable to reach such an agreement with Abramovich and therefore decided to sue him.
British Foreign Secretary David Lemmy and Chancellor of the Exchequer Rachel Reeves made a statement on this matter.
The government is determined to ensure that the proceeds from the sale of Chelsea Football Club are directed towards humanitarian purposes in Ukraine following Russia's illegal full-scale invasion, they said.
