UK Prime Minister Sir Keir Starmer has warned Russian oligarch Roman Abramovich to immediately release £2.5bn from the sale of Chelsea FC to support victims of the war in Ukraine or risk legal action. The funds, frozen in a UK bank since 2022, remain tied up amid a dispute over how they should be spent.
Abramovich pledged that the proceeds from the club’s sale would benefit victims of Russia’s invasion of Ukraine, but disagreements emerged after he argued the money should support “all victims of the war,” including Russians. The UK government insists the funds must be used strictly for humanitarian aid in Ukraine, in line with sanctions rules that prevent Abramovich or other sanctioned individuals from benefiting.
Speaking in Parliament, Starmer said the government had issued a licence to transfer the funds and warned that “the clock is ticking.”
A government spokesperson confirmed Abramovich has 90 days to act before court proceedings may begin. Chancellor Rachel Reeves called it unacceptable for the money to remain frozen, stressing the significant impact it could have on Ukraine’s humanitarian and long-term recovery efforts. Abramovich’s representatives declined to comment.
