Topline
The U.K. government on Thursday sanctioned Russian billionaire Roman Abramovich, freezing all his assets including the English Premier League soccer club Chelsea, as part of a broader sanctions effort that targets assets owned by several Russian oligarchs with close ties to Vladimir Putin’s regime.
Roman Abramovich, owner of Chelsea smiles following his team’s victory during the UEFA Champions … [+]
Key Facts
According to a notification issued by the Treasury’s Office of Financial Sanctions Implementation, Abramovich has been targeted for his association with Putin and his government.
In a statement announcing the sanctions, the U.K. government said it has published a special license to allow Chelsea to continue playing matches and engage in other soccer related activities.
The government will constantly review this license which only allows certain “explicitly named actions,” to ensure that Abramovich is not able to circumvent UK sanctions.
The Chelsea Football Club owner is one of seven high-profile Russian oligarchs targeted by Thursday’s sanctions, including Rosneft CEO Igor Sechin, En+ Group’s Oleg Deripaska, VTB Bank chairman Andrey Kostin, Gazprom CEO Alexei Miller, among others.
The government’s statement also noted that a new Economic Crime Bill will go into effect next week and will “significantly simplify” the process of imposing sanctions.
In total, the U.K’s updated sanctions list includes 65 individuals and entities linked to the Russian government.
Crucial Quote
Announcing the sanctions, U.K. Prime Minister Boris Johnson said: “There can be no safe havens for those who have supported Putin’s vicious assault on Ukraine…We will be ruthless in pursuing those who enable the killing of civilians, destruction of hospitals and illegal occupation of sovereign allies.”
Source: https://www.forbes.com/sites/siladityaray/2022/03/10/uk-sanctions-roman-abramovich-and-six-other-russian-oligarchs-freezes-assets-including-chelsea-fc/