This approach doesn't sit well with me.
Freeze the asset, sure. Interfering with the operation of the club seems like a dangerous precedent. Demand accounting, freeze profits, sure. Precluding the club from doing business, though, seems like it introduces the risk of players and employees who have nothing to do with this being the ones who get punished.
You could say, "Well, they chose to work for a Russian oligarch," but there's plenty of other clubs out there with scummy ownership. Letting the Saudis buy Newcastle, then going after Chelsea like this, seems astonishingly hypocritical. Either your government chooses to be political and hands-on when it comes to football, or it chooses to be hands-off. It needs to pick one. This kind of inconsistency will not end well.