Chelsea are reported to be investigating their commercial links with Parimatch, the Ukraine-based betting company that has just been named on a sanctions list ©Getty Images

Chelsea are reported to be reviewing their sponsorship arrangement with Parimatch Tech after news that the Ukraine-based betting firm is among the latest businesses to be sanctioned by Ukrainian President Volodymyr Zelenskyy.

The action is also likely to impact other English Premier League clubs Newcastle United, Aston Villa and Leicester City, who also have commercial deals with Parimatch, as well as a wide range of leading Ukrainian sports clubs and individuals.

Four Ukraine Premier League clubs - Shakhtar Donetsk, Dnipro-1, Chornomorets and Lviv - are also reported to have deals with Parimatch, who are also the title sponsors of the Ukrainian Basketball Super League.

Among top individuals who have commercial links with the company are the boxer Oleksandr Usyk, who earned the world heavyweight title by defeating Britain’s Anthony Joshua in 2021, MMA fighter Yaroslav Amosov, double world judo champion and Tokyo 2020 bronze medallist Daria Bilodid, and European triple jump champion Maryna Bekh-Romanchuk.

Shakhtar have already removed the Parimatch logo from their official website and social networks.

Parimatch have a three-year sponsorship deal with Chelsea which sees their logo displayed on light-emitting diode systems at Stamford Bridge.

Shakhtar Donetsk are reported to have removed from their website all logos to do with the Parimatch betting company, which has been named on the latest sanctions list issued by the Ukrainian Government ©Getty Images
Shakhtar Donetsk are reported to have removed from their website all logos to do with the Parimatch betting company, which has been named on the latest sanctions list issued by the Ukrainian Government ©Getty Images

The company is among 287 banned from any economic or financial activity in Ukraine for the next 50 years after security services determined that they had continued to conduct business in Russia a year after the invasion of their home country, assisting Vladimir Putin’s war effort.

"These are more than 280 companies and 120 people who, through gambling business schemes, worked against Ukraine, withdrew funds from our state and financed various Russian schemes," Zelenskyy said.

"It took some time to prepare the decision.

"It has been thoroughly worked out and closes schemes worth tens of billions."

In an official statement, Parimatch said: "Since the beginning of the war the Parimatch brand has ceased operations on the territory of Russia, prohibited any use of the brand, the company's technical solutions, and any presence on the territory of the aggressor country.

"The above is confirmed by the official conclusion and conclusions of the international law firm Mayer Brown.

"We note that Parimatch LLC constantly helps the country in the fight against the enemy and supports the population."