United Kingdom (UK) Prime Minister (PM) Sir Keir Starmer has said Russian oligarch and former Chelsea FC owner Mr. Roman Abramovich must “pay up now” money from the sale of the club to victims of the war in Ukraine or face court action.
In 2022, Mr Abramovich pledged that money from the sale of Chelsea FC would be used to benefit victims of the Russian invasion of Ukraine.
The money has been frozen in a British bank account since the sale, after he was sanctioned following Russia’s invasion of Ukraine.
According to a BBC report, the funds have been delayed due to a disagreement between the UK government and his lawyers over how the money should be spent in Ukraine.
The UK government wants the funds to be used for humanitarian purposes. Still, Mr Abramovich has insisted they be used for “all victims of the war,” meaning that Russians would also benefit.
The Treasury said that under the terms of the licence, the money must go to “humanitarian causes” in Ukraine and cannot benefit Mr Abramovich or any other sanctioned individual.
Speaking in the Commons, Sir Starmer said the UK had issued a licence “to transfer £2.5bn from the sale of Chelsea Football Club that’s been frozen since 2022.”
He said: “My message to Abramovich is clear: 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 and ensure that every penny reaches those whose lives have been torn apart by Putin’s illegal war.”
The UK government first threatened to sue Mr Abramovich in June.
Chancellor Rachel Reeves said, “It is unacceptable that more than £2.5bn of money owed to the Ukrainian people can be allowed to remain frozen in a UK bank account.”
Mr Abramovich – a Russian billionaire who made his fortune in oil and gas – was granted a special licence to sell Chelsea following Russia’s invasion of Ukraine, providing he could prove he would not benefit from the sale.
He is alleged to have strong ties to Russian President Vladimir Putin, something he has denied.
