The UK government is moving forward with plans to allocate over £2.3 billion from the sale of Chelsea Football Club towards humanitarian aid in Ukraine.
The funds stem from the 2022 sale of the club, previously owned by Russian billionaire Roman Abramovich, who was sanctioned following Russia’s full-scale invasion of Ukraine. However, the money has remained frozen due to legal and bureaucratic hurdles.
Government push to unblock funds
Foreign Secretary David Lammy has pledged to take action to ensure the funds are delivered to Ukraine. Speaking to the Financial Times, he expressed frustration over the delays and signaled a shift toward an "action-oriented approach" to resolve the impasse.
“I am frustrated that it hasn’t happened. That money needs to be distributed and used,” Lammy stated during a visit to Tokyo.
While he acknowledged the legal complexities, he emphasized that Britain’s priority remains ensuring the money is used within Ukraine. He hinted at the possibility of launching a legal case but noted that his "first instinct is not litigation" due to the time it could take.
Abramovich’s sanctions and sale of Chelsea FC
Abramovich, who owned Chelsea since 2003, was sanctioned weeks after the invasion. The UK government accused him of being involved in actions that "undermined the territorial integrity, sovereignty, and independence of Ukraine" through his connections to Evraz PLC, a Russian steel manufacturer.
As a result, he was only allowed to sell the club on the condition that the "net proceeds" would go toward assisting victims of the war in Ukraine.
Seizing Russian assets for Ukraine
The UK, US, and European governments have collectively seized between £233 billion and £271 billion worth of Russian assets since February 2022. While European leaders have long advocated for using these assets to help rebuild Ukraine, they are still navigating legal challenges to avoid setting a risky international precedent.
Lammy has called for swift action, stating:
“Europe has to act quickly. I believe we should move from freezing assets to seizing assets. But this must be done in coordination with our European allies.”
As discussions continue, the UK government is expected to intensify efforts to ensure the funds from the Chelsea sale are released as soon as possible. Photo by inkiboo, Wikimedia commons.