Russian oligarch deploys top lawyers in $6.6B Jersey battle over Ukraine relief money

The Times reported the information.

Russian-born oligarch Roman Abramovich has recruited a powerhouse roster of attorneys to fight a complex legal battle in Jersey over more than $6.6 billion in frozen assets, a case that carries major consequences for releasing funds from his Chelsea Football Club sale to assist Ukraine.

Since 2022, Jersey courts have frozen over $6.6 billion of Abramovich's wealth following a government investigation into the origins of the funds. His legal team argues that $1.7 billion from Chelsea's $2.9 billion sale price cannot be transferred to a charitable foundation until Jersey authorities drop their investigation and legal proceedings.

The dispute has intensified after UK Prime Minister Keir Starmer demanded Abramovich release all Chelsea sale proceeds by March 17 for a new Ukraine foundation—a deadline the oligarch plans to ignore, according to recent reports.

Abramovich's legal arsenal now includes Lord Wolfson KC, the shadow attorney-general in the House of Lords, and Eric Herschmann, a senior legal adviser to Donald Trump during his first presidential term. Four additional King's Counsels round out the team: Howard Sharp, Jersey's former solicitor-general; Maya Lester, a leading human rights barrister specializing in sanctions; Richard Lissack, an expert in financial litigation; and Andrew Stafford, who focuses on international finance cases.

The oligarch has already secured a court order requiring the Jersey government to cover some of his legal costs, with an application pending for approximately $3.1 million in reimbursement.

The $2.9 billion in Chelsea sale proceeds, along with $186 million in interest, remains frozen in the bank account of Abramovich's company Fordstam Ltd. Company filings reveal that $1.8 billion is owed to Camberley International Investments Limited, another Abramovich-owned entity registered in Jersey.

Jersey officials welcomed Abramovich as a resident in 2017, with UK government approval. The island's director of high-value residency, Kevin Lemasney, wrote to Abramovich that year suggesting they "meet for lunch and discuss the soft landing in Jersey."

That relationship soured after Russia invaded Ukraine and the UK sanctioned Abramovich. Jersey subsequently launched an investigation into the source of his wealth. Abramovich has since won a legal challenge forcing Jersey ministers and officials to produce private communications and data related to him.

A representative for Abramovich previously stated: "The attorney general's decision to investigate Mr Abramovich was illegitimate and politically motivated and linked to improving Jersey's reputation as a financial centre in the wake of the Russia-Ukraine conflict, at a time when the Jersey government's previous policy of encouraging Russian wealth to move to the island was now seen as politically inconvenient."

The Jersey government responded firmly, saying: "We categorically reject allegations of conspiracy, misfeasance in public office, or bad faith. These claims are entirely without foundation and will be addressed through the appropriate legal channels."