The UK government has warned Roman Abramovich it may take legal action to ensure proceeds from Chelsea FC’s sale go to Ukrainian humanitarian aid. Officials insist the frozen £2.5 billion must help war victims in Ukraine, not Russia.
Since sanctions were imposed following Russia’s 2022 invasion, the funds have remained stuck in a UK bank account. Abramovich claims the money should assist “all victims,” including Russians affected by the conflict. This disagreement has stalled the funds’ release for over two years.
Chancellor Rachel Reeves and Foreign Secretary David Lammy reaffirmed their stance, keeping talks open but preparing for court. They expressed frustration over delays, stressing the urgent need to aid Ukrainians suffering from the war. The government maintains the money must exclusively support Ukraine.
Abramovich’s legal team argues the funds remain his property under UK law, despite sanctions blocking his access. The billionaire, who made his fortune in oil and gas, sold Chelsea under a special license barring personal profit. He denies close ties to Putin but has not secured UK approval for his proposed aid plan.
When selling Chelsea, Abramovich vowed to donate proceeds through a foundation helping “all war victims,” including Russians. UK officials reject this, demanding the money solely assist Ukraine. The deadlock has drawn criticism, with a Lords committee calling the delay “incomprehensible.”
The committee noted the impasse damages both Abramovich’s reputation and the UK government’s credibility. It questioned why stronger guarantees weren’t secured earlier. Meanwhile, the funds stay frozen as negotiations drag on without resolution.
With legal threats escalating, the government emphasizes the moral obligation to prioritize Ukrainian civilians. Yet Abramovich’s broader vision for the money keeps the £2.5 billion in limbo, leaving war victims waiting as the dispute continues.
