In a bold move to ensure aid reaches victims of the ongoing war in Ukraine, UK Prime Minister Keir Starmer has demanded that Russian oligarch Roman Abramovich immediately transfer the £2.5 billion proceeds from the 2022 sale of Chelsea Football Club to a humanitarian foundation, warning that failure to comply could result in court action.
The funds, frozen in a UK bank account since Abramovich was sanctioned following Russia's invasion of Ukraine, were pledged by the former Chelsea owner to support war victims.
However, delays in establishing a suitable foundation have kept the money locked away for over three years, drawing criticism from Ukrainian officials and charities alike.
Speaking in the House of Commons on December 17, Starmer announced that the UK government would issue a special licence to facilitate the transfer of the frozen assets to a newly established independent foundation dedicated to humanitarian efforts in Ukraine.
"Honour the commitment you made and pay up now," Starmer directly addressed Abramovich, adding, "And if you don't, we are prepared to go to court so every penny reaches those whose lives have been shattered by Putin's illegal invasion."
This ultimatum marks a significant escalation in the long-running saga surrounding the Chelsea sale. Abramovich, who owned the Premier League club for nearly two decades, was forced to sell it in May 2022 amid Western sanctions targeting Russian elites with ties to President Vladimir Putin.
The sale to a consortium led by American businessman Todd Boehly fetched £4.25 billion, with £2.5 billion earmarked for charitable causes benefiting Ukraine.
Despite Abramovich's initial pledge, negotiations over the foundation's structure stalled, partly due to disagreements on governance and concerns about ensuring the funds' proper use.
Ukrainian President Volodymyr Zelensky has repeatedly called for the money to be released, emphasizing its potential to aid reconstruction and support for displaced families.
Starmer's Labour government, which took office in July 2024, has prioritized resolving the issue as part of its broader support for Ukraine.
The prime minister highlighted that the new foundation would be independent, with robust oversight to guarantee transparency and effectiveness in distributing aid.
Abramovich, now an Israeli and Portuguese citizen residing outside Russia, has not publicly responded to Starmer's remarks.
His representatives have previously insisted that he remains committed to the pledge but that legal and bureaucratic hurdles have caused the delays.
Critics, however, argue that Abramovich's reluctance stems from a desire to maintain some control over the funds' allocation.
The threat of legal action could involve the UK government seeking a court order to compel the transfer, potentially setting a precedent for handling frozen assets from sanctioned individuals.
Legal experts suggest that while Abramovich could challenge such moves, the government's position is strengthened by the original sale agreement and international sanctions frameworks.
This development comes amid heightened global scrutiny of Russian oligarchs' assets.
The UK has been at the forefront of efforts to seize and repurpose such funds for Ukraine's benefit, with similar actions in the US and EU.
As the war enters its fourth year, the £2.5 billion could provide critical support for infrastructure rebuilding, medical aid, and humanitarian relief.
Starmer's stance has garnered support from across the political spectrum in the UK, with opposition leaders praising the push for accountability.
"It's time for Abramovich to pay up," Starmer reiterated in a social media post, underscoring the government's resolve.
As the situation unfolds, all eyes will be on Abramovich's next move.
With the licence now in place, the ball is in his court – quite literally, given his footballing legacy – to decide whether to comply or risk a high-stakes legal battle.
