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THPM Stramer: UK To Transfer 2.5 Billion Pounds of Abramovich’s Chelsea Cash to Ukraine
UK Prime Minister Keir Starmer has announced that his government will transfer about 2.5 billion pounds from the frozen sale proceeds of Roman Abramovich’s Chelsea FC to a new fund for humanitarian aid in Ukraine.
The cash has been frozen in a UK bank since Abramovich sold the club in 2022 after being sanctioned following Russia’s invasion of Ukraine. Starmer warned that “the clock is ticking” for Abramovich to honour his pledge and hand over the funds, saying the government is prepared to take legal action if necessary.
A license has now been issued allowing the transfer, but Abramovich has so far failed to reach an agreement with UK authorities on the terms of the payout. The move is part of a broader western effort to use frozen Russian assets to support Ukraine’s war relief needs.
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Keir Starmer Abramovich Chelsea funds | UK seizes Chelsea money for Ukraine | Russia Ukraine war | EU Ukraine support |
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