Keir Starmer has given a final warning to former Chelsea owner Roman Abramovich, demanding £2.5 billion from the club sale to aid Ukraine. The UK Government threatens legal action if Abramovich fails to fulfill his pledge to transfer the funds to the Ukrainian people. The sale occurred in 2022 after the UK sanctioned Abramovich for alleged links to Vladimir Putin during the Ukraine invasion.
The money, earmarked for humanitarian causes related to the Ukraine conflict, is currently held in a UK bank account due to a standoff between Abramovich’s legal team and the government. The billionaire, known for his investments in oil and gas, wants the funds to benefit all war victims, including Russians.
Starmer urged Abramovich to honor his commitment promptly, warning of legal action if the money does not reach those impacted by Putin’s actions. Chancellor Rachel Reeves granted a license for the fund transfer to a new humanitarian aid foundation for Ukraine, giving Abramovich 90 days to respond before legal measures are considered.
Although the money is frozen in the UK account and inaccessible to Abramovich, it legally belongs to him. Government officials have been in discussions with Abramovich and his company, Fordstam Ltd., since the club sale to find a resolution. They are open to any proposal for voluntary donation of the funds to Ukraine.
Reeves emphasized the urgency of releasing the £2.5 billion owed to Ukraine, stating that action will be taken to ensure the funds reach the Ukrainian people if Abramovich fails to comply. Foreign Secretary Yvette Cooper echoed these sentiments, emphasizing the need to use the money for rebuilding lives affected by Putin’s war.
Liberal Democrat foreign affairs spokesman Calum Miller pressed for the money transfer deadline by the year’s end, stressing the importance of aiding Ukrainian civilians promptly. European leaders are striving to unlock about €210 billion (£184 billion) in Russian assets seized at the war’s onset, with UK officials hopeful for progress in utilizing these frozen assets to support Ukraine.