UK works on unlocking frozen funds from Chelsea sale to aid Ukraine
Photo: Russian oligarch Roman Abramovich (Getty Images)
The United Kingdom plans to unfreeze the funds obtained from the sale of the Chelsea Football Club and redirect them to aid Ukraine. UK foreign secretary David Lammy promises to take the necessary steps, Financial Times reports.
David Lammy stated that the government would take active measures, including possibly through legal proceedings, to free up the £2.3 billion that was frozen after the sale of Chelsea Football Club by Russian billionaire Roman Abramovich.
These funds, which have been held in a special bank account for two years, could be used for humanitarian purposes in Ukraine.
Lammy expressed concern that the funds had not yet been redirected to Ukraine and promised to resolve the matter as soon as possible.
The UK government insists that the funds should be used inside Ukraine to provide urgent assistance to war victims, while discussions are underway regarding the creation of a new fund for their distribution.
Lammy mentioned that although legal challenges have arisen, the government is determined to resolve the issue as quickly as possible.
Currently, the funds remain frozen in the UK, and officials are negotiating with representatives of Abramovich and international partners to find the optimal solution for distributing the financial assets.
Sale of Chelsea
Russian oligarch Roman Abramovich purchased 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 his ties to dictator Vladimir Putin.
Abramovich announced the sale of Chelsea in early March 2022 and noted that the proceeds would go into a fund for Ukraine's aid.
In May, the Russian oligarch sold the football club for $5.4 billion. However, as of now, the money from the sale has not reached Ukraine.
