Chelsea owner Roman Abramovich 'loses £650m in one day'

Roman Abramovich has reportedly seen his fortune drop by £650m as a result of the ongoing tension between Russia and Ukraine.

On Tuesday, Russia's defence ministry indicated that some troops positioned on the border of Ukraine were to return to their bases.

However, according to reports, that change in position did not come soon enough to prevent Chelsea owner Abramovich losing a significant chunk of his fortune.

Abramovich has a 28.6% share of steel group Evraz, and the concerns regarding the conflict between Russia and Ukraine have led to a reduction in value by 29%.

According to The Sun, the drop in shares is also down to investors fearing that restrictions could be imposed on Russian companies.

Abramovich bought his stake in Evraz all the way back in 2006, three years after purchasing Chelsea.