The British government has warned Roman Abramovich that this is his last chance to donate the proceeds from Chelsea’s sale to victims of Russia’s war in Ukraine.
Published December 17, 2025
Britain said Wednesday it would give Russian oligarch Roman Abramovich one last chance to hand over 2.5 billion pounds ($3.33 billion) to Ukraine for the sale of Chelsea Football Club or face legal action.
After Moscow’s invasion of Ukraine in 2022, Britain imposed sanctions on Abramovich for cracking down on the Russian oligarchy, triggering a hasty sale of Premier League soccer clubs and a freeze on profits.
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Britain wants the money to be used only for humanitarian purposes in Ukraine, in line with widespread calls by European countries to make Moscow pay for the death and destruction caused by the invasion.
Reuters could not immediately contact Abramovich’s representatives for a response to the government’s statement. He has previously called for more flexibility and said he wants to ensure that all victims receive funding. Mr Abramovich has 90 days to act on the terms of the new government permit.
If the Russian businessman fails to release the funds quickly, the government said in a statement that it is fully prepared to take him to court if necessary to implement the 2022 agreement with him.
“It is unacceptable that more than 2.5 billion pounds (approximately $3.33 billion) of funds owed to the people of Ukraine remain frozen in UK bank accounts,” Finance Minister Rachel Reeves said in a statement.
Prime Minister Keir Starmer said the UK would issue a license to release the funds. This will allow remittances to be made to new charitable foundations.
In a separate statement to Congress, Reeves said he would “consider Mr. Abramovich’s proposal to use this clear legal instrument to establish a foundation and transfer funds under the terms of the license.”
European Union leaders are scheduled to consider on Thursday a proposal aimed at using revenue from Russia’s idle state assets to support Ukraine’s huge budget and defense needs, a proposal fiercely opposed by the Kremlin.
Chelsea were sold to a consortium led by American investor Todd Boley and private equity firm Clear Lake Capital in May 2022, following the club’s most successful run under Abramovich.
Proceeds from the sale will be frozen in a UK bank account. They cannot be moved or used without a license from the Office of Financial Sanctions Enforcement, the Treasury Department’s sanctions enforcement agency.
