Former Chelsea owner Abramovich was forced to sell the club after being placed under sanctions due to links to Vladimir Putin’s regime following Russia’s invasion of Ukraine nearly three years ago.
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The Government is adamant that all proceeds will be donated for humanitarian purposes in Ukraine, but Abramovich wants the money to go to all victims of the war, which could include Russians.
“We are deeply frustrated that it has not been possible to reach agreement on this with Mr Abramovich so far.
Abramovich was under sanctions when he made the sale, but was issued a special licence by the Office of Financial Sanctions Implementation (OFSI) to sell the club.
Sources describe a complicated process and government officials are working with international partners to find a resolution.
“It has been committed for humanitarian purposes in Ukraine and yet three years later we’re still waiting for its deployment,” said Lyra Nightingale, a legal expert with Redress, a charity campaigning for reparations for victims of war and holding those responsible to account.
Abramovich completely transformed Chelsea after paying £140m to buy the club in 2003.
Under his ownership, the Blues won more than 20 major trophies, including five Premier League trophies, the Champions League twice and five FA Cups.
Then-foreign secretary Liz Truss said: “With their close links to Putin, they are complicit in his aggression. The blood of the Ukrainian people is on their hands. They should hang their heads in shame.”
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Chelsea were granted a special licence to continue operating but the club’s future was plunged into doubt. They were unable to sell tickets, merchandise, or buy or sell players.
Since then, almost every member of staff who worked under Abramovich has been replaced.
MPs across parties have been dismayed that almost three years after the sale not a penny has been released and have called for stronger action to be taken.
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