Starmer Warns Abramovich as Chelsea Sale Funds Remain Frozen
UK Prime Minister Keir Starmer has warned Roman Abramovich that time is running out to release the proceeds from the sale of Chelsea, as the government pushes for the money to be donated to humanitarian causes in Ukraine.
Speaking in Parliament on Wednesday, Starmer confirmed that ministers have issued a license allowing the funds to be transferred into a new foundation, clearing a legal path for the money to finally be used. He stressed that the government is now ready to escalate matters if progress is not made.
The Prime Minister made it clear that patience is wearing thin, telling MPs that Abramovich must honor the commitment he made when selling the club in May 2022. If he does not, Starmer said the government is prepared to pursue the matter through the courts to ensure the funds reach those affected by Russia’s invasion of Ukraine.
Abramovich sold Chelsea after being sanctioned following President Vladimir Putin’s decision to launch a full-scale invasion earlier that year. While the oligarch pledged to donate the proceeds for humanitarian purposes, the money has remained frozen in a UK bank amid prolonged negotiations with the government.
The sticking point has been Abramovich’s objection to the government’s insistence that the funds be spent exclusively in Ukraine. Downing Street confirmed that this disagreement has prevented any agreement from being finalized, despite repeated attempts to move the process forward.
Wednesday’s decision to grant a transfer license is designed to increase pressure before formal legal action is taken. Although no fixed deadline has been announced, it is understood that officials expect Abramovich to act within the coming months.
The issue has been simmering for some time. In June, Chancellor Rachel Reeves and then foreign secretary David Lammy publicly expressed frustration at the lack of progress, warning that legal options were being considered if the impasse continued.
Reeves reiterated that stance on Wednesday, describing it as unacceptable that such a large sum remains frozen while humanitarian needs in Ukraine persist. She added that ministers are prepared to take whatever steps are necessary to ensure the money is released.
Under the terms of the new license, the sale proceeds must be directed to humanitarian causes in Ukraine, while any future gains could be used to support victims of conflict more broadly. The Treasury said it would still consider any voluntary proposal from Abramovich, though it declined to specify what legal mechanism could ultimately be used to compel the transfer.
For now, the funds remain untouched, but the government’s message is clear. The stalemate cannot continue indefinitely, and the next phase is likely to determine whether cooperation or court action brings the long-running issue to an end.