UK Government Warns Abramovich: Funds Must Go to Ukraine Aid

The British government threatens legal action against Russian oligarch Roman Abramovich to break the deadlock in negotiations over GBP 2.5 billion frozen after the sale of Chelsea Football Club.

This was reported by The Sun, CE Report quotes Ukrinform.

In a joint statement, Chancellor Rachel Reeves and Foreign Secretary David Lammy said: “The Government is determined to see the proceeds from the sale of Chelsea Football Club reach humanitarian causes in Ukraine, following Russia’s illegal full-scale invasion.

With reference to the statement, it is noted that the British government is “determined that the funds from the sale of Chelsea football club will go to humanitarian purposes in Ukraine”. “We are deeply frustrated that it has not been possible to reach agreement on this with Mr Abramovich so far,” Reeves and Lammy noted.

At the same time, it is emphasized that the government is “fully prepared” to resolve the situation through the courts if required “ to ensure people suffering in Ukraine can benefit from these proceeds as soon as possible.”

As reported, Roman Abramovich announced a decision to sell Chelsea after Russia’s invasion of Ukraine in 2022. The billionaire, who had owned the football club for almost 19 years, said he would donate the proceeds from the sale to a charity for the benefit of all victims of the war in Ukraine.

However, almost simultaneously with the announcement, the UK government imposed sanctions on Abramovich and his assets. These restrictions have remained in place. So, while the sale of Chelsea was allowed, the proceeds could only be distributed after the relevant license was granted by the government’s financial sanctions enforcement agency.