Britain again promises to transfer Abramovich's money from sale of Chelsea Football Club to Ukraine
British Foreign Secretary David Lammy has promised to do "everything possible" to transfer to Ukraine the frozen £2.3 billion that Russian oligarch Roman Abramovich received from the sale of Chelsea Football Club more than two years ago, he said in an interview with the Financial Times.
The funds have been sitting in a special trust fund bank account for two years while negotiations over their use drag on. The British minister said he was “disappointed” that the money had never been used.
He now says he is taking an "action-oriented approach" to finally resolve the issue, though Lammy acknowledged there are "legal complexities" to this.
"I am determined to do everything possible to ensure that this money comes out and goes where it is intended," he said.
According to the FT, the British government wants this money to be spent in Ukraine, but the trust fund in whose account it is held advocates for "flexibility" to support Ukrainian refugees, the publication's sources said.
In addition, the British Foreign Office also stated that officials are continuing negotiations with Abramovich's representatives, experts and international partners to reach a decision on the use of the funds.
Media reports indicated that the UK government is close to transferring money from the sale of Chelsea Football Club as early as January 2023.
More about the sale of Chelsea FC
In March 2022, following Russia's full-scale invasion of Ukraine, Roman Abramovich put his Chelsea football club up for sale. He said the money from the sale would go to help victims of the war in Ukraine. Abramovich himself was subject to sanctions by the UK and the EU.
In May, a statement about the final sale of the club was published on the club's website.
On April 14 of that year, the UK imposed sanctions on two close associates of Russian billionaire Roman Abramovich in response to Russia's invasion of Ukraine. London said the men were subject to the largest asset freeze ever imposed by London.
In January 2023, the Wall Street Journal reported that Abramovich, who had been involved in peace talks between Russia and Ukraine at the start of the invasion, continues to be involved in contacts between the countries. But his role is now reduced to negotiations on the exchange of prisoners or the “grain deal.”
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