Wed Dec 17 18:31:05 UTC 2025: Summary:

The UK government is putting pressure on Roman Abramovich to release £2.5 billion from the sale of Chelsea Football Club to a Ukrainian humanitarian fund, giving him 90 days to act. If he fails to do so, the government is prepared to take legal action to enforce a 2022 agreement that mandates the funds be used for Ukrainian victims of the war. While Abramovich has expressed interest in the funds helping all victims, the UK insists the money must go solely to humanitarian causes in Ukraine. Other European nations are exploring ways to use frozen Russian assets to support Ukraine.

News Article:

UK Issues Final Ultimatum to Abramovich: Release Chelsea Funds for Ukraine or Face Legal Action

London, UK – The UK government has issued a firm ultimatum to sanctioned Russian oligarch Roman Abramovich, demanding he release £2.5 billion ($3.33 billion) from the sale of Chelsea Football Club within 90 days, earmarked for humanitarian aid to Ukraine. The funds have been frozen in a UK bank account since Abramovich was sanctioned in 2022 following Russia’s invasion of Ukraine.

Finance Minister Rachel Reeves stated, “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.”

The government is reportedly prepared to take legal action to enforce a 2022 agreement ensuring the funds benefit Ukrainian victims. Prime Minister Keir Starmer confirmed that a license would be issued to release the funds and transfer them to a newly established charitable foundation.

While Abramovich has previously expressed a desire for the money to benefit all victims of the conflict, the UK government remains adamant that the funds should be exclusively directed towards humanitarian efforts within Ukraine.

“We will consider any proposal from Mr. Abramovich to make use of this clear legal route to establish the foundation and transfer the funds under the terms of the license,” Reeves told Parliament.

The move comes as European Union leaders are set to discuss using proceeds from frozen Russian assets to bolster Ukraine’s budget and defence needs, a move vehemently opposed by Moscow. The pressure on Abramovich is part of a broader effort to ensure Russia bears the financial burden of the war’s devastation in Ukraine. The 90 day clock has started.

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