Rachel Reeves threatens to sue Roman Abramovich

The chancellor and overseas caput are threatening to instrumentality Roman Abramovich to tribunal to prehend the proceeds of his Chelsea FC sale.

The Russian oligarch, who is sanctioned by the UK authorities implicit his alleged links to Vladimir Putin, sold Chelsea for £2.5bn to an American consortium successful 2022, aft Russia's penetration of Ukraine.

Those funds stay successful a frozen UK slope relationship but are meant to beryllium utilized for humanitarian causes linked to the Ukraine war.

Chancellor Rachel Reeves and Foreign Secretary David Lammy person present said they are "deeply frustrated" an statement cannot beryllium reached with the oligarch and volition instrumentality him to tribunal if it cannot beryllium dealt with soon.

In a associated statement, they said: "The authorities is determined to spot the proceeds from the merchantability of Chelsea Football Club scope humanitarian causes successful Ukraine, pursuing Russia's amerciable full-scale invasion.

"We are profoundly frustrated that it has not been imaginable to scope statement connected this with Mr Abramovich truthful far.

"While the doorway for negotiations volition stay open, we are afloat prepared to prosecute this done the courts if required, to guarantee radical suffering successful Ukraine tin payment from these proceeds arsenic soon arsenic possible."

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Abramovich was forced to merchantability Chelsea - which helium bought for a reported £140m - aft 19 years of ownership, aft being sanctioned by the government implicit his alleged adjacent ties to the Russian president - thing helium denies.

The merchantability was made nether the supervision of the Office of Financial Sanctions Implementation, nether the proviso the proceeds spell to humanitarian assistance successful Ukraine.

They cannot beryllium moved oregon utilized without a licence from the office.

In March, the Foreign Office said officials were successful talks with Abramovich's representatives, but aggregate sources told the BBC determination had been nary meetings betwixt immoderate Labour ministers and members of the instauration acceptable up to oversee the funds since past July's wide election.

They said determination was a deadlock and a governmental determination by a curate is needed to negociate and motion disconnected an agreement.

It is not known if determination has been meetings successful the 3 months since then.

The £2.5bn - and involvement accrued - would marque up for immoderate of the simplification successful the assistance budget, announced successful February.