The United Kingdom government has intensified pressure on Russian oligarch Roman Abramovich, warning that he must urgently release £2.5 billion from the sale of Chelsea Football Club to support victims of the war in Ukraine or face legal action.
Prime Minister Sir Keir Starmer delivered the strongest warning yet in Parliament, making it clear that the government is prepared to take the matter to court if Abramovich fails to honour the commitment he made in 2022 following Russia’s full-scale invasion of Ukraine.
“My message to Abramovich is clear: the clock is ticking,” Sir Keir told Members of Parliament on Wednesday. “Honour the commitment that you made and pay up now. If you don’t, we are prepared to go to court and ensure that every penny reaches those whose lives have been torn apart by Putin’s illegal war.”
Abramovich, the former owner of Chelsea FC, pledged in March 2022 that the proceeds from the club’s sale would be donated to help victims of the war. The £2.5 billion generated from the sale has, however, remained frozen in a British bank account for more than two years due to disagreements over how the funds should be distributed.
The standoff centres on the definition of who qualifies as beneficiaries. While the UK government insists that the money must be used strictly for humanitarian assistance in Ukraine, Abramovich has reportedly argued that the funds should support “all victims of the war,” a position that could potentially allow some Russians affected by the conflict to benefit.
Under UK sanctions imposed after Russia’s invasion, Abramovich is barred from accessing the funds, though the money legally remains his property. To address this impasse, the UK government has now issued a special licence permitting the transfer of the £2.5 billion, provided it is directed exclusively toward humanitarian causes in Ukraine.
Updating Parliament, Sir Keir said the licence was designed to break the deadlock and ensure the funds reach those most affected by the conflict. He stressed that the government’s patience was wearing thin and warned that court action would follow if Abramovich continued to delay.
Foreign Secretary Yvette Cooper echoed the Prime Minister’s position in an interview with the BBC, saying Abramovich “needs to honour that commitment and pay that money.” She urged him not to pursue prolonged legal challenges that could further delay the release of the funds.
“I’m urging him not to try and pursue further court action,” Ms Cooper said, while confirming that the government is prepared to initiate legal proceedings if he fails to act.
The Treasury reinforced the government’s stance, stating that under the terms of the licence, the money must be used for humanitarian causes in Ukraine and must not benefit Abramovich or any other individual subject to UK sanctions.
The UK government first signalled its willingness to sue Abramovich in June, reflecting growing frustration over the prolonged delay. Chancellor Rachel Reeves described the situation as unacceptable, saying it was wrong for such a substantial sum intended for humanitarian relief to remain frozen while the war continues.
“It is unacceptable that more than £2.5 billion of money owed to the Ukrainian people can be allowed to remain frozen in a UK bank account,” Reeves said.
Abramovich, who amassed his wealth in the oil and gas sector, was granted a special licence to sell Chelsea FC shortly after Russia launched its invasion of Ukraine. The licence was issued on the condition that he could demonstrate he would not personally benefit from the sale. While Abramovich has consistently denied having close ties to Russian President Vladimir Putin, he has long been alleged by Western governments to have links to the Kremlin.
His representatives declined to comment on the latest government warning.
According to sources familiar with the matter, Abramovich now has approximately 90 days to comply with the licence terms and facilitate the transfer of the funds before the UK government moves forward with legal action.
The issue comes amid broader international efforts to mobilise frozen Russian assets to support Ukraine’s war effort and reconstruction. On Thursday, European Union leaders are expected to review proposals to use proceeds from frozen Russian assets to help cover Ukraine’s growing budgetary and defence needs. The proposals have drawn fierce opposition from Moscow, which has condemned such measures as illegal.
As the war in Ukraine enters another brutal phase, UK officials argue that releasing the Chelsea sale proceeds would send a powerful signal of accountability and solidarity with victims of the conflict. For now, the government insists that the responsibility lies squarely with Abramovich to act swiftly and fulfil the promise he made more than two years ago.
Follow Africa Live News on social media for more updates:
- X (Twitter): https://x.com/africalivenews2
- Instagram: https://www.instagram.com/africalivenews
- Facebook: https://www.facebook.com/AfricaLiveNews
- TikTok: https://www.tiktok.com/@africalivenews
