Attorneys representing have insisted that the £2.5bn proceeds from the sale of Chelsea soccer membership belong completely to him, warning the federal government that to confiscate the funds.
In a rising row between the oligarch and the federal government, Mr Abramovich’s authorized crew has additionally insisted ministers are accountable for the delay in releasing the funds for of the struggle, claiming in a letter that this was all the time his intention and one thing he’ll do voluntarily when the belongings are not tied up in a authorized case.
However the letter has drawn a livid response from overseas secretary , who informed The Impartial: “It’s time Roman Abramovich does the best factor, but when he gained’t we’ll act.”
The exchanges come forward of a 17 March deadline for the previous Chelsea proprietor to reply to calls for, after Sir Keir threatened authorized motion in December in an try to drive him at hand over the money he acquired for the membership in March 2022 to assist pay compensation for the struggle.
Roman Abramovich bought Chelsea practically 4 years in the past — however the proceeds are nonetheless frozen within the checking account of his firm Fordstam Ltd (AP)
In December final 12 months, the prime minister mentioned within the Commons: “My message to Abramovich is evident: the clock is ticking.”
He was backed up by senior ministers, together with chancellor Rachel Reeves who mentioned: “It’s unacceptable that greater than £2.5bn of cash owed to the Ukrainian folks may be allowed to stay frozen in a UK checking account.”
A letter was despatched to the Russian billionaire by the Workplace for Monetary Sanctions Implementation (OFSI) dated 17 December 2025 demanding the cash.
However Mr Abramovich’s authorized representatives, Kobre and Kim, have right this moment written a stern letter blaming the delay on the UK authorities.
They said: “Mr Abramovich has sought to advance the donation in accordance with the framework agreed to on the time of the transaction, which was recorded in a proper Deed of Endeavor that was expressly accepted by the UK authorities. Within the restricted interactions which have taken place with UK authorities throughout this era, Mr Abramovich has constantly sought to resolve the complicated authorized points stopping the donation from continuing with a purpose to advance his said intention to donate the proceeds to charity.
“Nonetheless, the UK authorities has repeatedly chosen to ignore these issues, opting as an alternative to subject public and political statements which do nothing to resolve the scenario. It has now chosen to threaten litigation and to subject a licence unilaterally, with out having a authorized foundation for doing so.”
The attorneys added: “You will need to emphasise that the funds — though presently frozen — stay the property of Fordstam Restricted, which is wholly owned by Mr Abramovich. The proposal to donate these proceeds was initiated by Mr Abramovich previous to the imposition of sanctions, and he stays absolutely dedicated to making sure that the funds are used for charitable functions.
Roman Abramovich bought Chelsea in Could 2022 (PA Wire)
“As such, any donation will likely be made voluntarily by our purchasers. Ought to the UK authorities consider it has the authorized foundation to confiscate these funds as an alternative, it’s after all open to provoke formal confiscation proceedings, which will likely be contested in court docket.”
However overseas secretary Yvette Cooper has hit again, saying: “This cash was promised to over three years in the past. It’s time Roman Abramovich does the best factor, but when he gained’t we’ll act.
“That’s why the licence has been issued. It’s time this cash was used to rebuild the lives of people that’ve seen devastation because of Putin’s unlawful struggle.”
The federal government sees the motion as a part of recovering belongings from Russian billionaires linked to Putin to assist compensate Ukraine for the results of the struggle.
Representatives of Mr Abramovich have beforehand blamed an open authorized case in Jersey investigating the origin of his wealth as to why he’s unable to unfreeze his belongings and proceed with the fee.
In April 2022, the Royal Courtroom of Jersey imposed a proper freezing order on $7 billion price of belongings in trusts which Jersey mentioned had been linked to Abramovich and the Lawyer Normal of Jersey mentioned Abramovich was a suspect in a prison investigation.
The Jersey authorities mentioned claims in opposition to Mr Abramovich got here as a result of he admitted throughout high-profile public English Excessive Courtroom proceedings between him and Boris Berezovsky, which resulted in 2012, that he had purportedly engaged in corrupt exercise in Russia within the Nineteen Nineties and early 2000s.
Below Putin, the 59-year-old oligarch served as governor of the distant Arctic area of Chukotka in Russia’s Far East the place he made his fortune.
However Mr Abramovich has argued that his wealth went below important scrutiny when Jersey gave him residency standing in 2016.