Roman Abramovich, Chelsea owner sanctioned by UK government
The UK government has sanctioned Chelsea owner Roman Abramovich, prohibiting him from transactions. Chelsea has been granted a special license to continue operations. Only existing ticket holders are permitted to attend games.
What does the sanction on Roman Abramovich indicate?
In simple terms, the sanction applied on the Chelsea owner, Roman Abramovich means that he is now unable to sell the club.
Roman Abramovich has his assets frozen now by the UK government. He also faces a prohibition on transactions with UK businesspersons and individuals. Apart from that he also faces a travel ban and transport sanctions.
Chelsea has been granted a special license by the government to allow fixtures to be completed, employees to be paid, and existing ticket holders to attend matches.
It’s unclear whether the license applies only to Chelsea’s main squad or to all of the club’s teams, including women’s and junior teams.
Other oligarchs sanctioned alongside Roman Abramovich
Roman Abramovich, owner of Chelsea FC and has stakes in steel giant Evraz and Norilsk Nickel
Oleg Deripaska has stakes in En+ Group
Igor Sechin is the chief executive of Rosneft
Andrey Kostin is chairman of VTB bank
Alexei Miller is CEO of energy company Gazprom
Nikolai Tokarev is president of the Russian state-owned pipeline company Transneft
Dmitri Lebedev is chairman of the Board of Directors of Bank Rossiya
Prime Minister Boris Johnson’s statement
Boris Johnson stated that there can be no safe havens for those who have supported Putin’s savage assault on Ukraine.
He added that today’s sanctions are the latest sign of the United Kingdom’s steadfast support for the people of Ukraine. They will pursue those who facilitate the murder of civilians, the devastation of hospitals. The illegal takeover will happen of sovereign allies with zeal.
Today’s sanctions highlight once again that oligarchs and kleptocrats have no place in our economy or society, Foreign Secretary Liz Truss stated. They are culpable in Putin’s aggressiveness because of their strong ties to him.
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Can Roman Abramovich sell the club?
No, he can’t, in a nutshell (sell the club). The term “freeze an asset” literally means “freeze an asset.” Chelsea is a physical thing with many organic pieces, unlike a boat. This is why the government has granted a unique license, thereby allowing the club to continue trading and operating under its current commitments and obligations.
So, while current season-ticket holders can attend games. That is because they’ve already signed a contract with the club. Alongside fans who wish to purchase tickets for games will be unable to do so because it’s a fresh transaction.