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Labour ministers have not yet engaged in discussions with important figures involved in releasing the promised £2.5bn for Ukraine following Roman Abramovich’s sale of Chelsea football club. Abramovich, who sold Chelsea in 2022 after facing sanctions from the UK government due to Russia’s invasion of Ukraine, raised the funds, which were intended for humanitarian purposes related to the conflict in Ukraine. However, the money remains locked in a UK bank account, prompting calls for Labour ministers to meet with Abramovich’s representatives or the foundation responsible for managing the funds.
While the Foreign, Commonwealth and Development Office (FCDO) has stated that its officials are in communication with Abramovich’s representatives, sources have revealed that there have been no meetings between Labour ministers and the foundation overseeing the funds since the last general election. A political decision from a minister is required to break the deadlock between the government and the foundation, according to sources close to the situation. The urgency of the matter has grown following Prime Minister Sir Keir Starmer’s announcement that a portion of the UK’s overseas aid budget is being redirected to defense, with £282m earmarked for Ukraine in 2024/25.
The delay in releasing the funds stems from a disagreement between the UK government and Abramovich’s legal team. While Abramovich was permitted to sell Chelsea under a special license, he was required to demonstrate that he would not personally benefit from the sale. The proceeds were intended to be donated through a foundation to assist all victims of the Ukrainian conflict, a commitment that Abramovich has maintained despite being unable to access the funds due to UK sanctions. The disagreement centers on whether the money should be allocated solely for humanitarian efforts within Ukraine or also include those affected outside the country.
The foundation, led by Mike Penrose and Norwegian diplomat Jan Egeland, met with former Foreign Secretary David Cameron and his deputy Andrew Mitchell last year, indicating a positive direction toward resolving the impasse. However, no resolution was reached before the general election, and there have been no ministerial meetings since Labour came into power. The foundation has prepared a plan for immediate action once the funds are released, which includes programs to support Ukrainian soldiers’ orphans and address various needs of those fleeing the conflict, such as health, housing, and education
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