We accept that this article included false references concerning FIDE’s bank account with UBS being frozen and falsely suggested that Mr llyumzhinov became subject to US sanctions because of alleged links to ISIS, terrorists and oil deals. We have agreed to pay an undisclosed sum of damages to Mr llyumzhinov which he has agreed to utilise to promote chess in the UK.

We note that Mr llyumzhinov has stated that in 2012, he met with President Bashar Assad in Syria in his capacity as President of FIDE during which they discussed, amongst other things, the promotion of chess in elementary schools in Syria." The letter was signed by Chief Executive of The Week Kerin O'Connor.

It is worth mentioning that some more court hearings initiated by Kirsan llyumzhinov’s lawyers will take place in London next week. The cases are connected with defence of honour and dignity of FIDE head regarding the unreliable information published in other editions.