The UK government has demanded that Russian oligarch Roman Abramovich gives £2.5bn from the sale of Chelsea Football Club to be used for humanitarian purposes in Ukraine, or face legal action.
Sir Keir Starmer announced at Prime Minister’s Questions at lunchtime that the Treasury is issuing a licence for the transfer of the frozen funds to a foundation to be used to provide aid in Ukraine.
If he does not do so within 90 days, the government will take him to court in the UK.
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The prime minister said: “My message to Abramovich is this: the clock is ticking, honour the commitment that you made, and pay up now.
“And if you don’t, we’re prepared to go to court, so every penny reaches those whose lives have been torn apart by Putin’s illegal war.”
Mr Abramovich rose to prominence in the UK when he bought Chelsea Football Club in 2003, before pumping billions into the club, winning several trophies including multiple Premier League titles and the Champions League.
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He made his billions in the post-Soviet Russian era, and has been said to be an ally to Vladimir Putin.
However, when Russia invaded Ukraine in 2022, Mr Abramovich was sanctioned by the Boris Johnson government due to his links to the Russian leader.
As part of this, he was forced to sell his stake in Chelsea, and he announced that the frozen proceeds would be earmarked “for the benefit of all victims of the war in Ukraine”, including “providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery”.
But the £2.5bn received for the sale has stayed in the deep freeze ever since, not available to support Kyiv and kept in an inaccessible account.
Asked by journalists if Mr Abramovich has given a reason for not agreeing to transfer the funds for use in Ukraine, the prime minister’s official spokesman said: “He disputes that the funds should be used exclusively for humanitarian purposes in Ukraine.
“He wants to spend them more widely. And negotiations on this have not resulted in an agreed outcome.”
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Downing Street said Mr Abramovich would need to set up the foundation and arrange the transfer in line with the licence, otherwise legal action would be taken – although the spokesperson would not say under what legislation they would take action under.
This move from the UK government is in line with a wider European push for Moscow to foot the bill for deaths and destruction triggered by its invasion.
Sky News has contacted Mr Abramovich’s last known legal representatives in the United States and Belgium for comment.
