Keir Starmer has delivered a stark ultimatum to former Chelsea owner Roman Abramovich, demanding he honour his pledge to transfer £2.5billion from the club's sale to assist Ukraine. The UK Government is preparing legal proceedings against the Russian oligarch should he fail to fulfil his commitment to donate the proceeds to the Ukrainian population.
Abramovich sold the football club in 2022 following sanctions imposed by the UK due to his purported connections to Vladimir Putin after the Ukraine invasion. The funds were earmarked for humanitarian purposes relating to the Ukraine conflict, yet they remain locked in a British bank account amid disputes between Abramovich's legal representatives and the UK Government.
Chancellor Rachel Reeves has today granted a licence permitting the transfer of the money to a newly established foundation for Ukrainian humanitarian assistance.
The billionaire has been cautioned that the government will pursue court action should he fail to uphold his pledge.
During PMQs, Starmer declared: "My message to Abramovich is this - the clock is ticking. Honour the commitment that you made and pay up now. If you don't, we're prepared to go to court so every penny reaches those whose lives have been torn apart by Putin's illegal war."
The government pledged to establish a foundation to distribute the money, which will be headed by former head of UNICEF UK, Mike Penrose.
Reeves said that it was “unacceptable that more than £2.5bn 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.”