The UK government has warned it may take legal action against former Chelsea Football Club owner Roman Abramovich to ensure the £2.5 billion proceeds from the club’s 2022 sale are directed toward Ukrainian humanitarian aid. The funds have remained frozen in a UK bank account since the sale, as Abramovich was sanctioned following Russia’s full-scale invasion of Ukraine. While the government insists the money must support those suffering in Ukraine, Abramovich has argued it should benefit “all victims of the war,” including those in Russia.
In a joint statement, Chancellor Rachel Reeves and Foreign Secretary David Lammy expressed frustration over the ongoing deadlock, stating they are “fully prepared to pursue this through the courts if required.” They reaffirmed their commitment to ensuring the money reaches humanitarian causes in Ukraine as quickly as possible, criticizing the lack of progress in reaching an agreement with Abramovich. Despite the oligarch receiving a special license to sell the club under strict conditions, including that he would not profit, negotiations have stalled over differing interpretations of how the funds should be allocated.
The legal ownership of the money remains with Abramovich under UK law, but sanctions prevent him from accessing it. The impasse has drawn criticism, including from a House of Lords committee that labeled the delay “incomprehensible” and said it reflected poorly on both Abramovich and the UK government. The committee also noted that a more binding commitment should have been secured at the time of the sale.
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