Breaking news:Roman Abramovich statement released as two-year decision explained after Chelsea announcement:Read more:

A technicality has allowed Roman Abramovich’s company, Fordstam Limited, to remain active despite not filing HMRC accounts since December 2021. The money from Abramovich’s sale of Chelsea in May 2022 is also still being held in a frozen UK bank account.

Abramovich pledged that the funds generated from the takeover would go towards helping victims of the war in Ukraine. Shortly after Russia’s invasion of Ukraine he was one of many high-profile figures sanctioned due to alleged links to Vladimir Putin and the state.

with a commitment to spending at least another £1.5billion investing in the club’s stadium, foundation, women’s team, and academy. However, Abramovich is yet to get access to this money and a statement released by The Times, made from the Office of Financial Sanctions Implementation, describes the issues at hand.
“This is a complex legal issue, but the UK is working with international partners, has engaged with Abramovich’s team, and is exploring all options to ensure the proceeds reach vulnerable people in Ukraine who are most in need,” the statement reads. “We are determined to see the proceeds reach humanitarian causes in Ukraine as soon as possible. We are doing everything we can to bring that about quickly.”

stating: “UK officials continue to hold discussions with Mr Abramovich’s representatives, experts and international partners, and we will double down on our efforts to reach a resolution.”

The former sports minister, Richard Caborn, has now explained attempts made to break from this impasse. “I have written to Keir Starmer to express my concern and ask him to get the Foreign Office to look at this as a matter of urgency, as we are now in a potentially fast-moving situation,” he told The Times.

Concern has been raised over what will happen to the money should sanctions be lifted under a peace agreement. “This is more than £2billion from the sale of Chelsea which could do a huge amount of good in Ukraine but it is nearly three years now and not a penny has reached there,” says Caborn.
Unfortunately the company’s main client was sanctioned on 10 March 2022. The company’s bank reacted by freezing its account.

“The joint liquidators have had to apply to the Office of Financial Sanctions Implementation for authorisation to not only realise the company’s assets but to then distribute realisations made in due order of priority

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