Labour ministers have yet to meet with key figures involved in unlocking the £2.5bn pledged for Ukraine from the sale of Chelsea FC by Roman Abramovich, despite mounting pressure to do so. The money, raised when Abramovich sold the club in 2022 after being sanctioned by the UK government over Russia’s invasion of Ukraine, remains frozen in a UK bank account instead of being used for humanitarian aid as intended.
While the Foreign, Commonwealth and Development Office (FCDO) confirmed that officials have been in discussions with Abramovich’s representatives, multiple sources say no Labour ministers have met with the foundation set up to manage the funds since last year’s general election. Sources close to the foundation claim that political intervention is required to break the deadlock, with one saying: “For three years, the government has been saying it’s working hard to release the money. But they are not meeting with the foundation.”
The delay has gained urgency after Prime Minister Sir Keir Starmer announced that part of the UK’s overseas aid budget would be diverted to defence, with £282m allocated to Ukraine in 2024/25. The release of the £2.5bn—plus the interest accrued—could help offset cuts to humanitarian aid.
Alison Griffin of Save the Children criticised the delay, saying: “This money has been sitting gathering dust—and interest—when it could and should have been spent helping the children of Ukraine cope with the horrors of a full-scale war that has lasted over three years.”
The main sticking point in negotiations is a disagreement between the UK government and Abramovich’s legal team. The billionaire, sanctioned over his alleged ties to Vladimir Putin—claims he denies—was granted a special licence to sell Chelsea on the condition that he would not personally benefit from the proceeds. He has maintained that the funds should support all victims of the war, including those outside Ukraine. However, the UK government insists the money should be used solely for humanitarian efforts within the country.
Portugal, which sanctioned Abramovich as an EU citizen due to his Portuguese citizenship, has also been involved in discussions. Meanwhile, Abramovich’s representatives have remained largely silent on the matter, acknowledging only that little progress has been made under the four UK prime ministers who have been in office since Chelsea’s sale.
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