Home / Banking & Finance

Legal News

Ukraine conflict—Practical impact of Abramovich's designation under financial sanctions explained

Copyright © 2025 LexisNexis

Published on: 11 March 2022

Published by LNB News

LNB News 11/03/2022

Document Information

Issue Date: 11 March 2022

Published Date: 11 March 2022

Jurisdiction(s): England, Northern Ireland, Scotland, Wales and Russian Federation

Article summary

The Office of Financial Sanctions Implementation (OFSI) has published a blog explaining the practical impact of Roman Abramovich's designation under the recent financial sanctions against Russia. The blog explains that all funds and economic resources belonging to, held or controlled directly or indirectly by Abramovich will be frozen immediately, including Chelsea Football Club. In relation to this designation, HM Treasury has issued General Licence INT/2022/1327076 which allows Chelsea Football Club to undertake activities that would otherwise be prohibited by financial sanctions, meaning the club can fulfil its fixtures and carry out football business, without undermining the impact of sanctions. The licence also outlines permissions for those attending a match, televising the match and purchasing and/or producing merchandise.

Popular documents

If a rentcharge is shown as being informally exonerated on title information, does this apply to the

If a rentcharge is shown as being informally exonerated on title information, does this apply to the current registered owner? Or does the informal exoneration only apply to the parties to the document which informally exonerated the rentcharge?This Q&A considers the situation where, at some

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid

Strike out—making an application to strike out a statement of case

Strike out—making an application to strike out a statement of caseA strike out order can be made either following an application by the parties or on the court's own initiative. This Practice Note deals with the scenario of the order being made following a party's application.Making an application

Can shares in a limited company that have not been paid-up at all be cancelled?

Can shares in a limited company that have not been paid-up at all be cancelled?A limited company having a share capital may not alter that share capital, except in the ways listed in section 617 of the Companies Act 2006 (CA 2006). Shares in a company cannot simply be cancelled without following an