Prime Minister Sir Keir Starmer has warned Roman Abramovich that time is running out to donate the proceeds from Chelsea FC's sale to Ukraine. The government issued a licence on Wednesday enabling the transfer, and ministers are prepared to take legal action if the Russian oligarch fails to honor his commitment.
Starmer told MPs on Wednesday: «My message to Abramovich is this: the clock is ticking. Honour the commitment you made and pay up now, and if you don't, we are prepared to go to court so every penny reaches those whose lives have been torn apart by Putin's illegal war.»
The new licence permits the transfer of sale proceeds to a foundation supporting humanitarian causes in Ukraine. Any future gains from the sale can be spent more broadly on victims of conflict worldwide.
Frozen funds remain unacceptable
The money has remained frozen in a UK bank since Chelsea was sold in May 2022. Chancellor Rachel Reeves called the continued freezing of funds unacceptable and stated ministers are prepared to do what is necessary to get the money to Ukraine.
The Treasury indicated it would consider any proposal from Abramovich to voluntarily transfer the money. However, no agreement has been reached despite ongoing discussions.
Background on sanctions and pledge
Abramovich was sanctioned following Vladimir Putin's invasion of Ukraine in 2022. He pledged to donate the Chelsea sale proceeds to the people of Ukraine but has not yet fulfilled this commitment.
The government first raised the possibility of legal action in June, when Reeves and then-foreign secretary David Lammy expressed frustration over the stalled agreement.
Note: This article was created with Artificial Intelligence (AI).
