Prime Minister Sir Keir Starmer has issued a stark ultimatum to Russian oligarch Roman Abramovich: “pay up now” to victims of the war in Ukraine or face court proceedings. Abramovich, the former owner of Chelsea Football Club, pledged in 2022 that funds from the sale of the club would be directed to those impacted by Russia’s invasion.

The significant sum, amounting to £2.5 billion, has been frozen in a British bank account since the club’s sale. This action followed sanctions imposed on Abramovich in the wake of Russia’s full-scale invasion of Ukraine. However, the release of these funds has been stalled due to ongoing disagreements concerning their allocation.

Speaking in the House of Commons, Sir Keir Starmer announced that a licence had been issued for the transfer of the £2.5 billion. He emphasized the urgency of the situation, stating, “My message to Abramovich is clear: the clock is ticking.” The Prime Minister stressed that Abramovich must honour his commitment to ensure the money benefits those whose lives have been devastated.

“Honour the commitment that you made and pay up now,” Sir Keir declared. “And if you don’t, we’re prepared to go to court and ensure that every penny reaches those whose lives have been torn apart by Putin’s illegal war.” The government’s intent to pursue legal action was first signaled in June.

The Treasury has stipulated that under the terms of the issued licence, the money must be allocated to “humanitarian causes” within Ukraine. Crucially, the funds are explicitly barred from benefiting Mr. Abramovich or any other individual under sanctions. This stipulation underscores the UK government’s objective to provide direct aid to those suffering.

Despite the government’s clear directive for humanitarian aid, Mr. Abramovich has reportedly expressed a preference for the funds to be distributed to “all victims of the war in Ukraine.” This divergence in interpretation has contributed to the protracted delay in the disbursement of the sale proceeds, leaving the intended beneficiaries in limbo.

Roman Abramovich, a Russian billionaire who amassed his wealth in the oil and gas sectors, was granted a special licence to sell Chelsea Football Club after Russia’s invasion of Ukraine. This licence was contingent on his ability to demonstrate that he would not personally profit from the transaction. His alleged close ties to Russian President Vladimir Putin have been a significant factor in the sanctions regime.

While Abramovich legally retains ownership of the £2.5 billion sale proceeds, he is currently unable to access these funds due to the existing UK sanctions. The ongoing legal and diplomatic wrangling highlights the complex challenges in repatriating assets linked to sanctioned individuals for humanitarian purposes, particularly amid an active conflict and international legal scrutiny.

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Keywords: Roman Abramovich, Ukraine war victims, Chelsea FC sale, UK sanctions, humanitarian aid, legal action, frozen funds, oligarch assets