- UK Government takes next step to enable donation of proceeds
from the sale of Chelsea Football Club (F.C.) to help the grave
humanitarian crisis in Ukraine
- Licence issued today to permit transfer of over £2.5
billion to benefit the people of Ukraine suffering at the hands
of Russian invasion
- Chancellor and the Foreign Secretary give Roman Abramovich
final chance to make the donation of funds now
The Chancellor and the Foreign Secretary have called time on
Roman Abramovich's inaction. He must now hand over more than
£2.5bn from the Chelsea FC sale – as he committed to do so over
three years ago - to benefit the victims of Russia's invasion of
Ukraine or risk facing court action.
The multi-billion-pound proceeds have been frozen in a UK bank
account since the sale in 2022, when the UK government sanctioned
Roman Abramovich after Russia's full-scale invasion of Ukraine
due to his close ties with Putin.
The Government will consider any proposal from Abramovich to
voluntarily donate the multi-billion pounds of funds to the most
vulnerable in Ukraine. Under the terms of the licence, proceeds
must go to humanitarian causes in the country. Any future gains
earned by the foundation can be spent more broadly on victims of
conflict worldwide. In neither case can the funds benefit
Abramovich or other sanctioned individuals.
Should Abramovich fail to free the funds quickly the UK
Government is fully prepared to take him to court if necessary to
enforce the agreement reached with him in 2022.
Prime Minister said:
“The clock is ticking on Roman Abramovich to honour the
commitment he made when Chelsea FC was sold and transfer the
£2.5 billion to a humanitarian cause for Ukraine.
“This Government is prepared to enforce it through the courts so
that every penny reaches those whose lives have been torn apart
by Putin's illegal war.”
Chancellor of the Exchequer said:
“It's unacceptable that more than £2.5 billion of money owed to
the Ukrainian people can be allowed to remain frozen in a UK bank
account. It's time for Roman Abramovich to pay up.
“If he doesn't act then we are prepared to do what is necessary
to make sure that money get to the Ukrainian people.”
Foreign Secretary said:
“This money was promised to Ukraine over three years ago. It is
time Roman Abramovich does the right thing, but if he won't we
will act.
“That's why the licence has been issued. It is time this money
was used to rebuild the lives of people who've seen devastation
as a result of Putin's illegal war.”
Since the sale of the club in 2022, the UK Government
has tried to agree a way forward with Abramovich and his
company, Fordstam Ltd. The Government will consider any proposal
from Abramovich to voluntarily donate the multi-billion-pound
proceeds to Ukraine.
Under the terms of the licence, proceeds must go to humanitarian
causes in the country while any future gains can be spent more
broadly on victims of conflict worldwide. In neither case can the
funds benefit Abramovich or other sanctioned individuals.
Notes to editors
It is now time for Roman Abramovich to act. Once a charitable
foundation is established, the proceeds from the sale can be
transferred in accordance with the terms authorised by today's
OFSI licence. However, should he fail to act, the money will
remain frozen and the Government will consider all options,
including pursuing the matter in Court.
The UK Government has worked closely alongside our international
partners throughout this process. All authorisations needed
to permit the donation have now been issued.
This comes as the United Nations (UN) estimates that 12.7 million
people – 36% of the population – need humanitarian support within
Ukraine. The impact this funding could have in meeting these
needs cannot be overstated for the people of Ukraine, who have
endured relentless suffering since Russia's full-scale invasion
in February 2022. The UN and partners appealed for US$3.32
billion in 2025 to support humanitarian and refugee response
plans for 8.2million people affected by the war in Ukraine.
