Three years after Chelsea’s £2.5bn sale, the funds remain frozen in a UK bank account due to disagreements over how the money should be distributed, with Roman Abramovich’s representatives and the UK government yet to reach a resolution.
Despite Abramovich’s initial pledge that all net proceeds from Chelsea’s sale would go to victims of the war in Ukraine, the funds remain untouched. The UK government insists the money must be used exclusively for Ukrainian humanitarian aid, while Abramovich reportedly wants a broader distribution, including support for Russian victims and other charitable causes.
The UK’s Foreign, Commonwealth and Development Office (FCDO) maintains that discussions with Abramovich’s representatives are ongoing but has made no progress on establishing an independent foundation to manage the funds. Labour MP Emily Thornberry has criticised the situation, blaming Abramovich for delaying much-needed aid. Meanwhile, charities warn that the humanitarian crisis in Ukraine is worsening, with millions in urgent need of support.
