Question to the HM Treasury:

To ask Her Majesty's Government who will be the recipient of the proceeds from the sale of Chelsea Football Club.

Financial sanctions do not change the ownership of frozen assets, so it will be for Chelsea FC and the buyers to determine the terms of any sale. Given the asset freeze a sale would require a Treasury licence to take place. The Treasury will consider any licence application made by the Club on the merits of that application.

Any licence issued under the Russia Regulations will be in line with the purposes of the Russia Regulations. The key purpose is to encourage Russia to cease destabilising Ukraine, and cease undermining and threatening the territorial integrity, sovereignty or independence of Ukraine.