Russia-Ukraine crisis: UK sanctions Chelsea Football Club owner

The UK has announced sanctions estimated at £15 billion against seven oligarchs, including Roman Abramovich.

As part of the UK's leading efforts to isolate Putin and those around him, these oligarchs with a collective net worth of around £15 billion will have their assets frozen in the UK. They are banned from travelling to the UK, and no UK citizen or company may do business with them. Economic Crime Bill coming into force next week will allow UK Government to move further and faster than ever on sanctions.

Owner of Chelsea Football Club, Roman Abramovich, sees his assets frozen, a prohibition on transactions with UK individuals and businesses, a travel ban and transport sanctions imposed.

Roman Abramovich has stakes in steel giant Evraz, Norilsk Nickel and owns Chelsea FC. He sold a 73% stake in Russian oil firm Sibneft to state-owned gas titan Gazprom for £9.87 billion in 2005. His net worth is an estimated £9.4 billion. He is one of the few oligarchs from the 1990s to maintain prominence under Putin.

Given the significant impact these sanctions would have on the Chelsea football club and the potential knock-on effects, the Government has published a licence that authorises many football-related activities to continue at Chelsea. This includes permissions for the club to continue playing matches and other football-related activities, which will protect the Premier League, the wider football pyramid, loyal fans, and other clubs.

UK Prime Minister Boris Johnson said, "There can be no safe havens for those who have supported Putin's vicious assault on Ukraine.

Today's sanctions are the latest step in the UK's unwavering support for the Ukrainian people. We will be ruthless in pursuing those who enable the killing of civilians, destruction of hospitals and illegal occupation of sovereign allies."

Foreign Secretary of the UK, Liz Truss said, "Today's sanctions show once again that oligarchs and kleptocrats have no place in our economy or society. With their close links to Putin, they are complicit in his aggression."