Abramovich's Chelsea Sale Funds Accrue £175 Million Interest

The proceeds from Roman Abramovich's sale of Chelsea have generated approximately £175 million in interest while held in a UK account, according to newly published company accounts. Initially valued at about £2.35 billion, the total amount now approaches £2.5 billion due to accrued interest.

One of the companies managing these frozen sale proceeds has released its accounts, revealing that nearly £114 million has accrued in 2024 alone, with £63 million raised in the previous year. Abramovich was sanctioned in 2022 following Russia's war in Ukraine and agreed that all sale proceeds should benefit victims of the war.

However, these funds remain frozen due to disputes regarding their distribution. Downing Street insists that the funds should exclusively support Ukraine, threatening legal action to expedite the process.

Additionally, an ongoing investigation in Jersey regarding how Abramovich acquired his initial wealth adds complexity to the situation, potentially affecting the distribution of £1.4 billion in profits after settling loans to an offshore firm.