While the U.K. insisted that the money should support humanitarian efforts inside Ukraine, Abramovich suggested it would be used to assist “all victims of the war in Ukraine,” including those in Russia.
“We are deeply frustrated that it has not been possible to reach agreement on this with Mr Abramovich so far,” the statement said. “While the door for negotiations will remain open, we are fully prepared to pursue this through the courts if required, to ensure people suffering in Ukraine can benefit from these proceeds as soon as possible.”
Following Russia’s full-scale invasion of Ukraine in February 2022, Abramovich was granted a special license to sell Chelsea, which he’d originally purchased in summer 2003, provided he could prove he would not benefit financially from the transaction.
In December 2023, Abramovich challenged the EU sanctions against him, asking for €1 million to make up for damages to his reputation. The Court of Justice of the European Union (CJEU) rejected the claims for compensation, ruling that the sanctions were not an “unjustified and disproportionate infringement of his fundamental rights.”