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Roman Abramovich has been embroiled in court battles throughout the last 20 years, including allegations of blackmail, bribery and loan fraud, and is a close ally of Russian dictator Vladimir Putin.
Russian or Belarussian athletes won't be at any major track and field meets this year unless the situation in the Ukraine changes.
The statement, consisting of just 24 words, made no mention of Russia and opted to use the word 'situation' - leading social media users to take aim at the club.
The Russian-Israeli billionaire is said to have flown into the eastern European country ahead of peace talks between Ukrainian and Russian officials.
Sportsmail revealed on Sunday that some of the trustees of the Chelsea Foundation, who were only informed of Abramovich's plans shortly before they were announced, have reservations.