Media reports state that the UK has officially ordered Roman Abramovich to transfer the £2.5 billion proceeds from the sale of Chelsea Football Club to a foundation supporting Ukrainian humanitarian causes, otherwise Abramovich will face legal proceedings.
UK Prime Minister Keir Starmer stated in the House of Commons today that Abramovich must transfer the funds to a new foundation established for Ukraine, and the issuance of this transfer license is Abramovich's final compliance opportunity before legal action is initiated.
After the outbreak of the Russia-Ukraine conflict, Abramovich sold Chelsea in 2022 under pressure from the UK government. A key condition for the UK to approve the sale was that the proceeds must be used to assist Ukrainian victims. The funds from the transaction were deposited in a UK bank account controlled by his company Fordstam.
Subsequently, the funds were frozen due to a deadlock in negotiations—the contention centered on whether the funds should be used exclusively within Ukraine or could flow overseas.
The government has pledged to establish a fund management body led by Mike Penrose, the former UK director of UNICEF.
Government officials emphasized that they have been working for years to negotiate terms with Abramovich and seek his cooperation in fund transfer. Starmer stated that the government is prepared to take legal action to secure the funds.
