US EditionUK Issues License to Hand £2.5 Billion From Abramovich’s Chelsea Sale to Ukraine
UK government issues licence to release £2.5 billion frozen since 2022 for Ukrainian humanitarian aid, demanding Roman Abramovich fulfill his pledge or face legal action.
- On Wednesday, Starmer announced that ministers are issuing a licence to transfer 2.5 billion from Chelsea's sale into a new foundation for Ukraine, urging Abramovich to honor his pledge.
- Abramovich sold Chelsea in 2022 after UK sanctions tied to his alleged links to Vladimir Putin, but the proceeds pledged for humanitarian aid remain frozen in a UK bank amid lawyer-minister disputes.
- Chancellor Rachel Reeves today authorised a licence requiring proceeds to fund humanitarian causes in Ukraine, allowing future gains to aid global conflict victims, while the Treasury will consider any voluntary proposal from Abramovich.
- The government warned it will pursue legal proceedings if Roman Abramovich does not fulfil his commitment, with Sir Keir Starmer cautioning on Wednesday that the 'clock is ticking'.
- The move positions the UK within wider efforts to unlock around £210billion in seized Russian assets, with UK ministers saying the licence aims to rebuild lives and support victims of Putin's illegal war.
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77 Articles
British Prime Minister Keir Starmer told Roman Abramovich, former owner of the Chelsea Club, that "the ticky season" for him to transfer the sum of 2.5 billion pounds of sterline from the sale of the club to humanitarian causes in Ukraine or to...
British Prime Minister Keir Starmer has said Russian oligarch Roman Abramovich must pay victims of the war in Ukraine or face legal action. Abramovich, the former owner of Chelsea football club, pledged in 2022 to donate the £2.5 billion (€2.85 billion) he made from selling the club to benefit victims of Russia's invasion of Ukraine.
Russian billionaire Roman Abramovich received his final warning from Britain on Wednesday in a dispute over the transfer of 2.5 billion pounds (over 69 billion crowns) to aid war-torn Ukraine. According to The Guardian, the oligarch now has 90 days to transfer the said amount, which came from the sale of Chelsea football club, or face trial. The case was discussed in parliament by British Prime Minister Keir Starmer.
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