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The U.K. and the EU initially imposed sanctions on Abramovich in 2022, freezing his assets in response to Russia’s war in Ukraine due to his close ties to Vladimir Putin’s government.

This move triggered the rushed sale of Chelsea, one of the biggest clubs in England, to a consortium led by American businessman Todd Boehly. However, the massive money generated by the transaction has remained locked in a U.K. bank account for nearly four years as a dispute rages over how the funds should be allocated.

The British government insists the money must be used only for Ukraine, aligning with a broader European attempt to force the Russian oligarch to compensate for the devastation caused by the war, The Guardian reported.

Abramovich has demanded more flexibility over the spending, insisting that the money is legally his to allocate. When he first announced his intention to sell the club in March 2022, he stated the proceeds would be used for the benefit of all victims of the war in Ukraine, and left open the possibility that a portion of the funds could be diverted to injured Russian soldiers or other recipients.

This week, Abramovich’s legal team asserted in a formal letter sent ahead of a March 17 deadline set by the U.K. government that the money is still wholly owned by Fordstam Ltd, the holding company through which Abramovich funded Chelsea.

They accused ministers of making “politically charged and highly publicized statements” about the Russian billionaire, arguing that the government’s restrictions on how the money must be used are to blame for the delay.

“The U.K. government appears to be treating this proposed donation as a form of punitive measure against Mr. Abramovich,” the lawyers said in the letter, as reported by Reuters.

British Foreign Secretary Yvette Cooper responded to the letter, stating that the money was promised to Ukraine over three years ago and warning that if Abramovich refuses to do the right thing, the government will act.

In December, U.K. Prime Minister Keir Starmer said that “the clock is ticking” for a resolution.

Abramovich’s lawyers issued a stark warning that any formal confiscation proceedings by the government would be contested in court, affirming that his proposal to donate the proceeds was made before the sanctions and that he remains fully committed to using it for charity.