The UK plans to unfreeze funds received from the sale of the Chelsea football club and direct them to aid Ukraine, reported the newspaper Financial Times citing a statement by Foreign Secretary David Lammy.
Lammy stated that the country's government will take active measures, particularly through a possible legal process, to release the frozen 2.3 billion pounds sterling obtained from the sale of the Chelsea football club by Russian billionaire Roman Abramovich. These funds, which have been held in a special bank account for two years, may be used for humanitarian needs in Ukraine.
The UK government insists that these funds should be used within Ukraine to provide urgent assistance to war victims, while the possibility of creating a new fund for their distribution is being discussed. Lammy noted that although legal complexities have arisen, the government is determined to resolve this issue as quickly as possible.
Currently, the funds remain frozen in an account in the UK, and officials are negotiating with Abramovich's representatives and international partners to find the best solution for distributing these funds.
Russian oligarch Roman Abramovich acquired the Chelsea football club in the summer of 2003. After Russia's invasion of Ukraine, he was removed from his position as director due to sanctions and ties with Vladimir Putin. Abramovich announced the sale of the football club in early March 2022, promising that the proceeds would go to a fund to aid Ukraine.
In May, the Russian oligarch sold Chelsea for 5.4 billion dollars, but the received funds have not yet been transferred to Ukraine.