UK Government's Sanctions On Abramovich Put Chelsea Sale on Hold

Published March 10th, 2022 - 10:25 GMT
Roman Abramovich (Photo: AFP)
Roman Abramovich (Photo: AFP)

UK government sanctions has forced Chelsea FC owner Roman Abramovich to put the sale of the club on hold.

The Russian billionaire's assets has been froze as part of a set of financial sanctions.

The oligarch had put the club on sale last week in anticipation of sanctions by the UK government.

Freezing his assets now mean that the Blues face an uncertain future.

Abramovich has been penalized due to his alleged ties to Russian president Vladimir Putin, who ordered the recent military attack on Ukraine.

The UK Treasury's Office of Financial Sanctions released a statement on Thursday.

It read: "Roman Arkadyevich Abramovich (hereafter Abramovich) is a prominent Russian businessman and pro-Kremlin oligarch.

"Abramovich is associated with a person who is or has been involved in destabilizing Ukraine and undermining and threatening the territorial integrity, sovereignty and independence of Ukraine, namely Vladimir Putin, with whom Abramovich has had a close relationship for decades.

"This association has included obtaining a financial benefit or other material benefit from Putin and the Government of Russia.

"This includes tax breaks received by companies linked to Abramovich, buying and selling shares from and to the state at favorable rates, and the contracts received in the run up to the FIFA 2018 World Cup.

"Therefore, Abramovich has received preferential treatment and concessions from Putin and the Government of Russia."

Roman Abramovich (Photo: AFP)
Roman Abramovich (Photo: AFP)

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