UK Authorizes Transfer of £2.5bn from Chelsea Sale to Aid Ukraine Victims
Keir Starmer informed Roman Abramovich in Parliament that the UK government has issued a licence allowing the transfer of £2.5 billion from the sale of Chelsea FC to humanitarian causes benefiting victims of Russia's invasion of Ukraine. This licence specifically permits the funds to be directed to Ukraine and not to Abramovich or any other sanctioned individual. The proceeds from the Chelsea sale have been frozen in a British bank account following Abramovich's sanctions.
Abramovich had pledged in 2022 that the proceeds from the Chelsea FC sale would provide support to victims of the conflict in Ukraine. The Treasury has confirmed that under the licence, the funds must be used solely for humanitarian assistance in Ukraine. The UK government has also stated it is prepared to take court action to ensure that every penny reaches those affected by Putin's invasion.
