US EditionUK Issues License to Hand £2.5 Billion From Abramovich’s Chelsea Sale to Ukraine
The UK government issued a licence enabling the transfer of £2.5 billion from Abramovich’s Chelsea sale to aid Ukraine, warning of legal action if he does not comply.
- On Wednesday, Starmer announced that ministers are issuing a licence to transfer 2.5 billion from Chelsea's sale into a new foundation for Ukraine, urging Abramovich to honor his pledge.
- Abramovich sold Chelsea in 2022 after UK sanctions tied to his alleged links to Vladimir Putin, but the proceeds pledged for humanitarian aid remain frozen in a UK bank amid lawyer-minister disputes.
- Chancellor Rachel Reeves today authorised a licence requiring proceeds to fund humanitarian causes in Ukraine, allowing future gains to aid global conflict victims, while the Treasury will consider any voluntary proposal from Abramovich.
- The government warned it will pursue legal proceedings if Roman Abramovich does not fulfil his commitment, with Sir Keir Starmer cautioning on Wednesday that the 'clock is ticking'.
- The move positions the UK within wider efforts to unlock around £210billion in seized Russian assets, with UK ministers saying the licence aims to rebuild lives and support victims of Putin's illegal war.
141 Articles
141 Articles
"My message to Abramovich is as follows: time is running out."In front of the House of Commons, British Prime Minister Keir Starmer threatened on Wednesday the Russian oligarch Roman Abramovich to take legal action if the ex-owner of Chelsea FC did not agree to give Ukraine the 2.5 billion pounds from the club's sale."Honor the commitment you made and pay now. Otherwise, we are ready to go to court so that every penny goes to those whose lives w…
The businessman has to transfer billions to Ukraine.
The transfer can only be effected through a foundation approved specifically for this purpose.
The former owner of Chelsea Roman Abramovich is to transfer proceeds from the club sale for humanitarian aid in Ukraine. As this has not happened so far, the British Prime Minister Starmer increases the pressure. He warns the oligarch: »The clock ticks«.
The funds are frozen in a British bank account. The dispute concerns exactly how the funds should be used.
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