The UK government has issued Russian billionaire Roman Abramovich with a final ultimatum, requiring him to channel more than £2.5 billion from the 2022 sale of Chelsea Football Club into humanitarian support for Ukraine—or risk immediate court proceedings.
Frozen in a British bank amid sanctions linked to his alleged ties with Vladimir Putin, the proceeds were originally promised by Abramovich to aid war victims, but ongoing disputes about their distribution have prevented release.
A newly granted licence from the Office of Financial Sanctions Implementation now allows transfer exclusively to Ukrainian causes, potentially directing any interest to other global conflicts while barring Abramovich himself.
Addressing the House of Commons on Wednesday, Prime Minister Sir Keir Starmer declared: “My message to Abramovich is clear: the clock is ticking.” He detailed the licence “to transfer £2.5bn from the sale of Chelsea Football Club that’s been frozen since 2022,” before issuing a pointed challenge: “Honour the commitment that you made and pay up now, and if you don’t we’re prepared to go to court and ensure that every penny reaches those whose lives have been torn apart by Putin’s illegal war.”
Foreign Secretary Yvette Cooper reinforced this during a BBC interview, insisting Mr. Abramovich “needs to honour that commitment, pay that money,” and cautioning: “I’m urging him not to try and pursue further court action,” while affirming the government’s readiness to litigate if necessary.
Chancellor Rachel Reeves described the delay as intolerable, stating: “It is unacceptable that more than £2.5bn of money owed to the Ukrainian people can be allowed to remain frozen in a UK bank account,” and pledging decisive action to secure delivery.
Abramovich’s team offered no comment as he awaits resolution of a separate Jersey legal matter, with Treasury conditions limiting funds to Ukraine’s aid needs—where UN figures highlight 12.7 million people requiring assistance.