Britain on Wednesday gave Russian billionaire Roman Abramovich a final opportunity to release £2.5 billion ($3.33 billion) from the sale of Chelsea Football Club to Ukraine, warning that it is ready to take legal action if he fails.
Abramovich was sanctioned in the UK following Russia’s 2022 invasion of Ukraine, prompting a rushed sale of the Premier League club and freezing of the proceeds. The UK government insists the funds be used solely to aid Ukraine, as part of a broader European effort to hold Moscow accountable for the war’s destruction.
Finance Minister Rachel Reeves called it “unacceptable” that the money remains frozen, while Prime Minister Keir Starmer confirmed that Britain will issue a licence to release the funds. Abramovich has previously sought more flexibility, wanting the money to help all victims of the war.