Prime Minister Keir Starmer has delivered a stark ultimatum to Russian billionaire Roman Abramovich, demanding he finally release the £2.5 billion from the sale of Chelsea Football Club for humanitarian aid in Ukraine.
The Ultimatum and Legal Threat
The UK Government has explicitly warned that it will initiate legal proceedings against the former Chelsea owner if he fails to honour his commitment to hand over the proceeds. This dramatic move follows years of stagnation, with the colossal sum frozen in a UK bank account since the club's sale in 2022. The sale was forced after Abramovich was sanctioned by the UK over his alleged ties to Russian President Vladimir Putin following the invasion of Ukraine.
A Licence to Unlock the Funds
In a significant step to break the deadlock, Chancellor Rachel Reeves issued a licence on 17 December 2025. This licence is designed to permit the transfer of the frozen £2.5 billion to a newly established foundation dedicated to providing humanitarian support for Ukraine. The government's action creates a clear pathway for the money to reach its intended destination, putting the onus squarely on Abramovich and his legal team to comply.
Years of Delay and a Final Warning
The funds have been in limbo due to protracted disagreements between the oligarch's lawyers and UK authorities. Despite the original promise that the money would be used for "humanitarian causes" related to the war, bureaucratic and legal hurdles have prevented any disbursement. Today's intervention by the Starmer administration represents a decisive effort to resolve the impasse. The message from Westminster is unequivocal: honour the pledge or face the consequences in a British court.
The situation underscores the ongoing complexities of leveraging frozen Russian assets for Ukrainian reconstruction and sets a high-stakes precedent for the new government's approach to sanctions enforcement.
