Abramovich Partially Lifted Sanctions

by Olha Povaliaieva
Thursday, May 26, 2022
Abramovich Partially Lifted Sanctions

The UK government approved the sale of "Chelsea", as the money from the sale of the football club will be used to help Ukraine

On March 4, Roman Abramovich announced his intention to sell "Chelsea" in the "interests of the club." According to the club owner's plan, the £4 billion proceeds from the sale were to be transferred to a fund to help victims of the war against Ukraine.

Due to subsequent sanctions on the assets and property of the Russian oligarch, the sale of the club became impossible. The club government is known to have asked the UK government to approve the sale of the club. On May 26, the government of the Kingdom decided to approve the sale of Chelsea FC for £4.25 billion. The new owner will be American Todd Boly.

It is known that Roman Abramovich decided to sell before the imposition of sanctions against the Russians and also said from the very beginning that all the money from the sale would go to the fund. Thus, Abramovich's act was not aimed at "paying off the sanctions", as some Russian oligarchs began to try to do.

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