Partner James Clark interviewed on BBC Radio 5 Live on the UK sanctions regime

Partner James Clark spoke to BBC Radio 5 Live about the UK government’s decision to issue a licence permitting the transfer of £2.5 billion in frozen assets from Roman Abramovich’s sale of Chelsea Football Club to humanitarian causes in Ukraine. He has also commented in The Independent and 166 further publications on this news.

Speaking with BBC Radio 5 Live, James explained that although the sale proceeds are frozen under the UK sanctions regime, they still belong to Mr Abramovich. The assets are frozen, but not confiscated.

James noted that the issuance of a licence does not alter this position. A licence merely grants permission for a transfer to take place and does not compel the sanctioned individual to act.

Commenting on the legal difficulties the government would face if it sought to force the transfer, James explained that there is currently no legal mechanism allowing the state to confiscate the assets. Any attempt to do so would be highly risky. He added that pursuing a breach of contract claim would also present significant legal hurdles.

James highlighted the wider implications for the sanctions regime, warning that a move from freezing assets to effectively confiscating them could set a dangerous precedent. Such a shift could prompt a wave of legal challenges from other individuals designated under the UK sanctions regime.

James’ interview was broadcast on 17 December 2025, and can be found below.

James also commented on this news in The Independent and 166 regional publications, noting that:

“While the political imperative is clear, forcing the issue through the courts risks stretching the sanctions regime beyond its intended limits. Ministers will need to show that enforcement/confiscation action remains rooted in the licence framework, or they risk creating an uncomfortable precedent for how frozen assets are treated under UK law.”