“There can be no safe havens for those who have supported Putin’s vicious assault on Ukraine,” British Prime Minister Boris Johnson said.

“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.”

Sechin, who Britain described as Putin’s right hand man, was already on the U.S. and EU sanctions lists and last week French authorities seized his yacht.

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Thursday’s action means Abramovich is banned from carrying out transactions with British individuals and businesses, and cannot enter or stay in Britain.

Last week, he announced that he would sell Chelsea and donate money from the sale to help victims of the war in Ukraine.

The entry on Britain’s sanctions list described Abramovich, who Britain said was worth 9 billion pounds, as “a prominent Russian businessman and pro-Kremlin oligarch”.

It said he had enjoyed “a close relationship for decades” with the Russian president.

It said this association with Putin had brought Abramovich a financial or material benefit from either the Russian president directly, or the Russian government.

“This includes tax breaks received by companies linked to Abramovich, buying and selling shares from and to the state at favourable rates, and the contracts received in the run up to the FIFA 2018 World Cup,” the website said

In that scenario, it is likely that the Government would take control of the sale and the proceeds would be frozen or go into a charitable fund, possibly for the war victims in Ukraine.

That effectively leaves Abramovich with two options: agree to the Government’s conditions and lose the club for nothing, or let Chelsea slowly rot.

It is likely the Russian billionaire will proceed with the sale to preserve the club’s future, even though that means he would not receive a penny for an asset he was looking to sell for £3bn last week.

A number of parties remain in the running, including Candy, whose attempts to buy Chelsea were revealed by Sportsmail earlier this week.

Chelsea were holding talks on Thursday night with the Government amid concerns they will struggle to complete the campaign.

The Blues could lose millions in sponsorship revenue following Thursday’s developments.

Shirt sponsors Three suspended their £40million deal, while fellow Chelsea partners Nike who agreed a 15-year, £900m deal with Chelsea in 2016, Hyundai, Parimatch and Zapp are all considering walking away. That would see the club miss out on £540m.

To top it all, Chelsea’s rivals are lining up to take advantage of their plight, with two players who were due to sign for the Blues’ academy already approached by other high-ranking Premier League clubs, given the ban on the Blues bringing in fresh talent.

Abramovich’s assets were frozen, throwing the sale of the club into disarray, although British property tycoon Nick Candy remains interested and several others are preparing £2billion offers;

Chelsea chiefs held urgent talks with the Government in the hope of lessening the impact of stringent restrictions placed on the club, amid fears they may not be able to complete the season;

Chelsea were told they cannot renew contracts or buy any players.

Source: Dailymail.co.uk