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What DOES 'net proceeds' mean? Now Roman Abramovich faces questions over his vow to donate cash from his £3bn Chelsea sale to charity, as security minister vows to beef up the UK's sanctions

Roman Abramovich is facing further questions about his promise to donate the 'net proceeds' of any sale of Chelsea to victims of Russia's invasion of Ukraine after the UK's security minister admitted he did not know what the term meant.

The Russian billionare on Wednesday night sensationally confirmed Chelsea is up for sale and that he is writing off the £1.5billion debt he is owed by the club.

Abramovich - who has reported links to the Russian regime - is seeking to distance himself from Vladimir Putin and sanctions imposed on Russia by the west over its devastating and illegal invasion, while pressure grows on the British government to include the billionaire among the wealthy Russians to be targeted in sanctions.