Starmer tells Abramovich to 'pay up now' or face court

Sir Keir Starmer has called on Roman Abramovich to release funds earmarked for victims of the war in Ukraine, or face legal action. The former owner of Chelsea Football Club pledged in 2022 to donate the £2.5 billion from the club's sale to benefit those affected by the Russian invasion. That said, the reality is a bit more complicated. the funds remain frozen in a British bank account due to disagreements over how the money should be distributed.

The UK government wants the money to be used for humanitarian aid in Ukraine. Abramovich, however, has insisted that the funds should benefit "all victims of the war," potentially including Russians.

While UK sanctions prevent Abramovich from accessing the money, he still legally owns the proceeds from the Chelsea sale. A government spokesperson stated that they are prepared to take Abramovich to court if he does not act quickly. The spokesperson emphasized the significant impact the £2.5 billion could have on the people of Ukraine, strengthening frontline capacity, enhancing protection for vulnerable individuals, and supporting sustainable solutions.

The government first threatened legal action against Abramovich in June. According to the Treasury, the license issued for the transfer of funds stipulates that the money must go to humanitarian causes in Ukraine and cannot benefit Abramovich or any other sanctioned individual.

Speaking in the House of Commons, Starmer said that the UK had issued a license to transfer the frozen £2.5 billion from the Chelsea sale. He warned Abramovich that "the clock is ticking" and urged him to honor his commitment and "pay up now." He added that if Abramovich fails to do so, the government is prepared to go to court to ensure that every penny reaches those affected by the war.

Chancellor Rachel Reeves has also criticized the delay, stating that it is unacceptable for the funds owed to the Ukrainian people to remain frozen. Abramovich, who made his fortune in oil and gas, was granted a special license to sell Chelsea after the Russian invasion, provided he could prove he would not profit from the sale. He has been alleged to have close ties to Vladimir Putin, which he denies.

Reportedly, Abramovich has 90 days to act before the UK considers further legal action. EU leaders are also scheduled to review proposals to use proceeds from frozen Russian assets to support Ukraine's budget and defense needs. Russia strongly opposes these proposals.