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Chelsea in turmoil as bank account frozen by Barclays after Roman Abramovich sanction

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Chelsea's bank accounts have been frozen, leaving the club facing potential financial ruin, according to reports.Banks are being "risk-averse" after sanctions were imposed on the club on Thursday.

Several of the club's corporate credit cards have reportedly been frozen as a result. According to The Times, Barclaycard have temporary suspended their account with the west Londoners.This is because they do not want to be found in breach of the government licence that was issued to the Blues on Thursday. "The licence allows the club to continue with day-to-day activities but the banks don’t have the risk appetite for it," a source told the newspaper. "They’ve frozen some of the corporate credit cards.

It’s put a lot more pressure on the club."Chelsea are reportedly hopeful that once there is more clarity on the situation the freeze will be reversed.Although the licence issued to the Blues on Thursday allows them to continue operating and to fulfil fixtures, it seems some banks don't want to take the risk of being in breach of it.

A source confirmed that the situation was of grave concern and that it had made it more difficult to run the club day-to-day. Do you think Chelsea will go bust?

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