"Strangely, the UK government appears to be treating this proposed donation as a form of punitive measure against Mr Abramovich. This is fundamentally incorrect. It is important to emphasise that the funds - although currently frozen - remain the property of Fordstam Limited, which is wholly owned by Mr Abramovich."
"Should the UK government believe it has the legal basis to confiscate these funds instead, it is of course open to initiate formal confiscation proceedings, which will be contested in court."
"Abramovich's lawyers argue that he cannot sign off on Fordstam releasing the £2.35 Chelsea proceeds while Jersey proceedings are ongoing as the company own [assets under investigation]."
Roman Abramovich is engaged in a dispute with the UK Government over £2.35bn in proceeds from Chelsea's 2022 sale, frozen in a UK bank account since May 2022. Prime Minister Keir Starmer warned Abramovich that time is running out on his pledge to donate the funds to Ukrainian conflict victims. Abramovich's legal team maintains he remains committed to charitable purposes but refuses to release the funds while Jersey criminal proceedings continue investigating the source of assets in another Abramovich company. The government issued a mid-March ultimatum for Abramovich to authorize the release, but he contests this, asserting the funds remain his property and threatening court action if the UK attempts confiscation.
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