Russian billionaire Roman Abramovich is under pressure to release £2.5 billion from the sale of Chelsea FC to support victims of the Ukraine conflict, as demanded by critics.
Abramovich, 59, was compelled to sell the Premier League club in May 2022 due to sanctions imposed after the invasion of Ukraine by Russian President Vladimir Putin earlier that year.
The funds from the sale, pledged by Abramovich for humanitarian aid in Ukraine, are currently held up in a dispute with the UK government, prompting the government to set a 90-day deadline that has now lapsed.
In response, a government spokesperson stated that Abramovich failed to fulfill his commitment and further legal action will be pursued to ensure the promised donation is delivered.
Complicating matters, a court battle in Jersey has frozen £5.3 billion of Abramovich’s assets since 2022, hindering the release of the earmarked funds.
With the situation at a standstill, Labour MP Joe Powell has urged Abramovich to promptly release the funds to aid the ongoing crisis in Ukraine, emphasizing the urgent need for support.
Redress director Rupert Skilbeck welcomed the government’s intervention and stressed the importance of expediting the delivery of the promised £2.5 billion to aid war victims in Ukraine without further delays.
Abramovich, whose wealth stems from the post-Soviet era, has been linked to Putin, though he denies any alliance. Despite the crisis in Ukraine, Abramovich continues to lead a lavish lifestyle, even reportedly considering Istanbul as a permanent residence.
Notably, Abramovich still owns the luxury superyacht Eclipse, valued at £1.1 billion, equipped with extravagant features such as a swimming pool convertible into a dance floor and space for three helicopters, which recently docked in Turkey.
Public attention has also turned to Abramovich’s ownership of private jets, including a Boeing 787-8 Dreamliner and a Gulfstream, amid his romantic involvement with actress Alexandra Korendyuk.
Abramovich’s legal team, represented by Kobre & Kim, maintains that the Chelsea sale proceeds remain under his ownership and accuses the government of obstructing charitable efforts by imposing restrictions on the funds.
The lawyers assert that Abramovich is dedicated to charitable causes, with delays attributed to government interference, arguing against the portrayal of the donation as punitive.
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