The billionaire's name is currently not on Britain's sanctions list targeting pro-Kremlin banks, businesses and magnates after Vladimir Putin's invasion of Ukraine.
But the fear of a possible seizure of his assets would have pushed Abramovich to part ways with the London club, as he made the official announcement on Wednesday.
The 55-year-old oligarch even pledged to donate the "net proceeds" from the sale of the club to war victims.
"The situation has escalated incredibly quickly over the past seven days and he (Roman Abramovich) has come to the right conclusion," said Richard Masters at a football forum organized in London by the Financial Times.
"The situation had become untenable. It's a welcome decision, for the good of everyone, including the fans."
“The fastest sale we have recorded so far is ten days, Mr. Masters continued. -he indicates.
For their part, Chelsea supporters expressed their gratitude to Roman Abramovich who has made their club one of the most powerful and competitive in England and Europe since his arrival in 2003.
Thus, the Chelsea Supporters' Trust group wrote in a press release: "The CST would like to express its gratitude to Mr Abramovich for his affection, his passion and his devotion to Chelsea FC. His support has brought us unprecedented success during his tenure. Chelsea supporters will never forget all he has done for our club. Thank you, Mr Abramovich."
Since the arrival of the Russian billionaire, the London club has won 21 national and international titles, including five English league titles and two Champions Leagues.
© 2022 AFP