In a statement on the Premier League club’s website, businessman Abramovich said it was an “incredibly difficult decision to make”, which “pains” him.
It follows days of speculation that the club would go up for sale.
Billionaire Hansjorg Wyss had told Swiss newspaper Blick that Abramovich wanted “to get rid of Chelsea quickly” after the threat of sanctions was raised in Parliament.
🔵 Chelsea under Roman Abramovich:
🏆🏆🏆🏆🏆 Premier League x5
🏆🏆🏆🏆🏆 FA Cup x5
🏆🏆🏆 League Cup x3
🏆🏆 Champions League x2
🏆🏆 Europa League x 2
🏆 Super Cup x1
🏆 Club World Cup x1