Sir Keir Starmer has warned Roman Abramovich that “the clock is ticking” to donate the £2.5bn he received from the sale of Chelsea to Ukraine.
The prime minister said on Wednesday he had issued a license to MPs that would allow proceeds from the sale of Chelsea to be transferred to a new foundation for humanitarian purposes in Ukraine.
Speaking in the House of Commons, he said: “My message to Abramovich is this: The clock is ticking.
“Keep your word and pay back now. If you don’t, we are ready to go to court to make sure every penny reaches the people whose lives were torn apart by President Putin’s illegal war.”
Abramovich sold the club in May 2022 after being sanctioned following President Vladimir Putin’s invasion earlier that year.
The oligarchs had promised to donate the proceeds from the sale to the Ukrainian people, but so far they have not reached an agreement with the government on the future direction and the funds remain frozen.
Foreign Secretary Yvette Cooper told Sky News the government had tried “everything possible” to get Mr Abramovich to “do the right thing”.
“A huge amount of work has been done at different times to get Roman Abramovich to honor his commitments and do what he needs to do,” she said. “It has been tried in many different ways over the years, but still without success.
“This has nothing to do with the timing of the ongoing peace process work (between Ukraine and Russia). We have just reached that point. We have tried everything to get him to do the right thing, and now we are taking this action.”
Wednesday’s decision to grant a transfer license is aimed at forcing Abramovich to fulfill his commitments before the government resorts to legal action.
The government had previously raised the possibility of legal action in June, saying it was “frustrated” that Prime Minister Rachel Reeves and then-Foreign Secretary David Lamy had failed to reach an agreement with Abramovich.
On Wednesday, Prime Minister Reeves said it was “unacceptable” that the funds remained frozen in British banks and said ministers were “ready to do whatever it takes” to ensure the funds reach Ukraine. This comes after the Prime Minister told a Russian billionaire to “pay up” or be taken to court by the British government.
“Please ignore the reason behind the delay”
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Sky Sports’ Kave Solhekor has explained why Sir Keir Starmer gave former Chelsea owner Roman Abramovich a “last chance” to sell the club to Ukraine.
Sky Sports News Chief Correspondent Kaveh Solhekol:
“There was a conflict between the British government and Abramovich, because the government wants the funds to go to Ukraine, while Abramovich wants them to go to “all victims” of the war, some of which could go to Russia.
“The sale went ahead because Abramovich was under sanctions at the time of the sale and had been issued with a special license that would allow him to do so if he could prove that he would not personally benefit.
“The money still legally belongs to Abramovich, but he cannot access it.
“What we saw the government say today is, ‘We’ve run out of patience. This has been going on for too long. We’re going to make sure these funds are released and go to the victims of war in Ukraine, not to Ukraine and Russia.’
“Abramovich didn’t want to sell Chelsea, he didn’t need the money. He was very popular among Chelsea supporters and always had the impression of someone who loved the club.
“He was forced to sell Chelsea under the terms of a special license, which meant the money had to go to the victims of the Ukraine war. Politically it would be difficult for him.”
“I don’t know how easy it will be for the UK Government to force the release of this money, but the Prime Minister is saying time is running out. It’s ridiculous that this money has just been frozen in a bank account. The Government is now stronger and saying enough is enough, but I don’t think it will be easy.”
