Furious Chelsea owner Roman Abramovich has decided to rip up plans for £1billion Stamford Bridge's rebuild and also tore up his UK visa application in the wake of Britain's 'war' on oligarchs following the Salisbury spy poisoning, blaming the 'current unfavourable investment climate' for the decision. The Russian billionaire was banned from entering the UK in April after his investor visa ran out amid the British Government’s war of words with Russia, he took Israeli citizenship earlier this week, allowing him to travel visa-free in the UK although he can only do so as a visitor and not in a working capacity. As reported by Jerusalem Post on Thursday, he has now withdrawn his application for a new UK visa pending the UK government’s review of the issuing of investor visas. The Chelsea owner is been treated as a fresh applicant after his previous 40-month investor visa expired in April - effectively banning him from Britain and forcing him to miss Chelsea's FA Cup win a fortnight ago. Chelsea have already been through a lengthy planning process to get this far with their stadium. However, the club proposed redevelopment of Stamford Bridge into a new 60,000-seater stadium was on hold indefinitely. It's believed that Abramovic was not prepared to put so much money into a city that 'had made him feel unwelcome', describing the move as retaliation. The project would also deliver some £22m in community benefits in Hammersmith and Fulham, including £3.75m for affordable housing and £12m for community facilities. A terse statement issued without warning said: “Chelsea Football Club announces today that it has put its new stadium project on hold. No further pre-construction design and planning work will occur. The club does not have a time frame set for reconsideration of its decision. The decision was made due to the current unfavourable investment climate.” The planning permission approved by the city's mayor only lasts for three years which implies that a deviation from that time frame might mean Chelsea will have to start the process from scratch. "We are aware of this latest news, and are in regular contact with Chelsea Football Club,” said a spokesperson for Hammersmith and Fulham Council. “It remains our main priority to get the best benefits from this development for the people of Hammersmith & Fulham." Mr Abramovich had been waiting for his 'golden visa', granted to foreigners who invest more than £2million in Britain every year without one he cannot work for Chelsea. Relations between Moscow and London have been strained since former Russian double-agent Sergei Skripal and his daughter were poisoned in Salisbury in March. Britain blamed the attack on Russia but the Kremlin denied any involvement. If Abramovic cannot lay hand on an investment visa, it could also mean he will have to sell his beloved Chelsea and quit Britain for good. What are your takes? Have a say, drop your comments below.