Keir Starmer gives Roman Abramovich a deadline to hand over £2.5 billion from the sale of Chelsea for Ukraine aid. The UK Government threatens legal action if Abramovich fails to fulfill his promise amid concerns of funds being frozen in a UK bank account. The standoff continues as the billionaire aims for the money to benefit all war victims, including Russians.
Starmer urges Abramovich to honor his commitment promptly, warning of court action to ensure the funds reach those affected by Putin’s war. Chancellor Rachel Reeves issues a license for transferring the money to a new foundation for Ukrainian humanitarian aid, with a 90-day window for Abramovich to respond before potential legal measures.
The UK Government has been in negotiations with Abramovich’s company, Fordstam Ltd, since the club sale in 2022 to find a resolution. Ministers are open to voluntary proposals for donating the money to Ukraine as the funds remain inaccessible to the billionaire but legally his. Reeves stresses the urgency of releasing over £2.5 billion owed to Ukraine and vows to take necessary steps if Abramovich delays.
Foreign Secretary Yvette Cooper emphasizes the overdue promise of the money to Ukraine and the need for Abramovich to act responsibly, warning of government intervention if required. Liberal Democrat representative Calum Miller calls for a deadline by the year-end for the fund transfer, emphasizing its critical impact on aiding Ukrainian civilians.
European leaders press for a resolution on approximately €210 billion (£184 billion) in frozen Russian assets to support Ukraine. UK officials express optimism for progress in utilizing these assets to assist Ukraine in rebuilding post-war devastation.