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The British government is taking legal action against former Chelsea Football Club owner Roman Abramovich to ensure that the £2.5bn from the club’s sale is directed towards Ukraine, following his sanctioning after Russia’s invasion of Ukraine in February 2022. The funds have been frozen in a UK bank account since the sale took place. While Mr. Abramovich has expressed his desire for the money to benefit “all victims of the war in Ukraine”, the UK government is adamant that it should go towards humanitarian aid specifically for Ukraine.
Chancellor Rachel Reeves and Foreign Secretary David Lammy issued a joint statement declaring their readiness to pursue legal action if necessary in order to guarantee that the funds are utilized for the benefit of those suffering in Ukraine. They emphasized the government’s determination to see the proceeds from the Chelsea Football Club sale support humanitarian causes in Ukraine, in response to Russia’s illegal invasion. The impasse between the UK government and Mr. Abramovich’s legal team has led to delays in releasing the funds, highlighting the disagreement over how the money should be allocated.
Mr. Abramovich, a Russian billionaire with ties to President Vladimir Putin, was granted a special license to sell the club on condition that he would not personally profit from the transaction. Despite being unable to access the sale proceeds due to UK sanctions, the money legally belongs to him. The government has argued that the funds should be used exclusively for humanitarian efforts within Ukraine, contrary to Mr. Abramovich’s initial intention to support victims of the war in both Ukraine and Russia. A House of Lords committee criticized both parties for the ongoing impasse, urging for a more binding commitment from Mr. Abramovich to fulfill his promise of supporting Ukraine.
The disagreement over the allocation of the funds has created tension between the UK government and Mr. Abramovich, with legal action looming as a potential resolution. The government’s insistence on directing the money towards Ukrainian humanitarian aid reflects their commitment to supporting those affected by the conflict. As negotiations continue, the fate of the £2.5bn proceeds from the Chelsea Football Club sale remains uncertain, pending a resolution between the parties involved
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