Janet Yellen, Treasury Secretary, said that Russian billionaire Roman Abramovich could face sanctions despite claims that he is a peace broker between Russia and Ukraine.

Canada, Europe, and the U.K. have sanctioned Abramovich as the West’s most prominent oligarch. However, there have been questions as to why the U.S. is taking so long to move. Volodymyr Zelensky, the President of Ukraine, advised President Biden not to sanction Abramovich. He said that Abramovich could be a mediator between Russia and Ukraine to help them negotiate peace. according to The Wall Street Journal.

According to the article, sanctions had been prepared by the Treasury Department against Abramovich. However, the White House National Security Council demanded a delay.

CNBC was informed Friday by Secretary Yellen that Abramovich may still be subject to sanctions.

“I would hold open the possibility that — certainly not take off the table the possibility — he or other individuals could face sanctions in the future,” she said.

Yellen did not comment on Abramovich’s peace-broker effectiveness or the Wall Street Journal report. According to The Financial Times, Vladimir Putin approved Abramovich’s participation in the Russian peace negotiations.

Yellen stated that she was not going to discuss the details of what decides if he’s sanctioned. It remains possible, I’m only saying so.

Abramovich’s controversial case has made him more visible in West. Abramovich, with his private yachts, jets, and the ownership of Chelsea FC, became the symbol of Russian super-wealthy in Europe and the U.S.

Abramovich is racing to sell Chelsea for a reported $4 billion, which has come down to two leading bidding groups — one led by Los Angeles Dodgers co-owner and investor Todd Boehly and the other led by private-equity chiefs Josh Harris and David Blitzer. His London residence is being sold as well. His name remains on a property located near Aspen could be among the first U.S. asset to be frozenIf he is authorized by the Biden administration.

Abramovich’s two mega-yachts — Eclipse and Solaris — have sailed to Turkey, which has so far refused to sanction or freeze oligarch assets. It’s not known where Abramovich currently resides. private jets linked to himHe has been traced from Israel to Turkey, and is believed to be interested in real estate in Dubai.

Abramovich’s position as advisor and mediator to Putin is contrary to one of his long-held assertions. For years, his legal and PR team have disputed Abramovich’s title of “oligarch,” asserting that Abramovich has no influence over Putin’s policies or decisions.

In 2003, after he bought Chelsea, he stated to the Financial Times that he did not have a special relationship with Russian President Putin.

Yellen suggested that the U.S. might sanction more oligarchs because they provide both influence and money to Putin.

She said that she believed the influence of the oligarchs on President Putin’s thinking was significant. “And they’ve provided the resources necessary to allow Putin to wage war like this. They have provided resources to enable Putin to carry out a war like this. So I feel the sanctions they’ve placed on them is appropriate.