Chelsea FC billions frozen as UK issues last warning to Abramovich
Political pressure intensifies
The unresolved fate of money linked to the sale of Chelsea has once again moved to the forefront of British politics. After years of legal and diplomatic deadlock, ministers are signalling that patience has run out.
Senior government figures have indicated that the current phase marks a shift away from negotiation and towards enforcement, as the administration seeks to unlock funds it says should already be helping civilians affected by the war in Ukraine.
£2.5 billion still frozen
More than three years after Chelsea changed ownership, £2.5 billion from the sale remains frozen under UK sanctions. The funds are connected to former club owner Roman Abramovich, who was sanctioned following Russia’s invasion of Ukraine.
According to The Guardian, the government has now framed its latest move as a final opportunity for Abramovich to cooperate in releasing the money for humanitarian purposes.
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While the proceeds were publicly pledged to charitable causes linked to Ukraine, disagreements over governance and legal safeguards have prevented the transfer from taking place.
Licence clears legal hurdle
Chancellor Rachel Reeves has issued a licence allowing the frozen funds to be transferred into a newly established foundation. According to The Guardian, the foundation has been created specifically to distribute the money to humanitarian organisations working in Ukraine.
Government officials argue that this step removes a key legal obstacle and provides a clear framework to ensure the money cannot revert to Abramovich or entities connected to him.
The licence is intended to accelerate a process that has stalled despite repeated political commitments.
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Legal action on the table
Prime Minister Keir Starmer has warned that failure to comply could result in court proceedings. Such action would allow the government to pursue legal mechanisms to release the funds without Abramovich’s agreement.
Starmer said the government was prepared to escalate matters to ensure the money reaches those affected by the conflict.
“My message to Abramovich is this: the clock is ticking. Honour the commitment you made and pay up now, and if you don’t, we are prepared to go to court so every penny reaches those whose lives have been torn apart by Putin’s illegal war.”
A test case for sanctions enforcement
Ministers say the outcome now depends on how Abramovich responds to the licence and the government’s warning, with no public timetable set.
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According to The Guardian, officials see the case as a broader test of how sanctioned assets can be redirected towards humanitarian goals, particularly as political pressure grows to turn frozen wealth into tangible support for Ukraine.
Government sources insist their priority is to bring the long running stalemate to an end and demonstrate that sanctions can deliver real world consequences.
Source, The Guardian
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