Chelsea Owner Abramovich Back in Moscow After EU Sanctions

Olena Ivanova By Olena Ivanova
4 Min Read

Originally Syndicated on May 16, 2023 @ 5:25 am

The UK government recently imposed sanctions on the Russian oligarch due to his longstanding association with Russian President Vladimir Putin.

Roman Abramovich, the owner of Chelsea Football Club, faced sanctions from the UK government over his alleged connections with Russian President Vladimir Putin. Reports suggest he may have arrived in Moscow after being spotted at an Israeli airport.

A private jet linked to the Russian-Israeli billionaire made a stop in Istanbul before landing in Moscow, as reported by Flightradar24. On the previous day, he was seen in a VIP lounge at Ben Gurion Airport, wearing a mask under his chin. Video footage shows him at the airport, but it remains unconfirmed whether he boarded the flight.

Roman Abramovich
Roman Abramovich

The jet, a Gulfstream business aircraft, had arrived in Israel from Moscow and had to comply with Israeli restrictions imposed on private jets since the Russian invasion of Ukraine, limiting their stay to 24 hours.

Meanwhile, Mr. Abramovich’s £460 million yacht, Solaris, was tracked off the Albanian coast with the status “awaiting orders.” It had initially been en route to Turkey from Montenegro, but this destination was later removed.

In a coordinated effort, European Union diplomats agreed to include Mr. Abramovich in the EU’s list of sanctioned Russian billionaires following Moscow’s military actions. This move follows the UK’s recent sanctions, which freeze his assets, prohibit transactions with UK individuals and businesses, and impose a travel ban to the UK. However, Mr. Abramovich denies any close ties to the Russian president.

The UK has already sanctioned approximately 20 oligarchs, including Mr. Abramovich and Alisher Usmanov, resulting in the freezing of their London properties and a ban on entering Britain.

Furthermore, the EU’s new sanctions target individuals involved in the Russian steel industry and those providing financial services, military products, and technology to the Russian state. Concerns have been raised about Portugal, as Mr. Abramovich also holds a Portuguese passport, potentially refraining from enforcing the EU-level asset freeze and travel ban.

In response to international pressure, Israel has refused to act as a route to bypass sanctions imposed on Russia by Western countries.

These sanctions have affected Evraz, the UK-listed steel and coal business partly owned by Mr. Abramovich, which has been removed from the London stock indexes.

Chelsea Football Club
Chelsea Football Club

Chelsea Football Club, last season’s Champions League winners, faces significant disruption due to the sanctions. Mr. Abramovich initially considered placing the club under its foundation and selling it for £3 billion, with several potential buyers linked, including property developer Nick Candy. However, the UK sanctions may hinder the sale, and the club will be granted a special license to continue operating under limited conditions, including restrictions on ticket sales, player signings, contract extensions, and retail operations. The possibility of the club’s sale remains contingent on further government action.

On March 11, Barclays temporarily suspended Chelsea‘s bank account while assessing the club’s license, and sponsors such as Three UK and Hyundai suspended their affiliations with the team.


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