UK Prime Minister Sir Keir Starmer has delivered a stark warning to Russian oligarch Roman Abramovich, urging him to release £2.5 billion from the sale of Chelsea FC for the benefit of victims of the Russian invasion of Ukraine – or face legal action.

Abramovich, the former owner of Chelsea Football Club, pledged in 2022 that the proceeds from the sale would be used to support those affected by the war in Ukraine. However, the funds remain frozen in a British bank account, with a legal standoff over how the money should be allocated.

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Starmer’s Warning in the Commons

Speaking in the House of Commons, Starmer said:

“My message to Abramovich is clear: the clock is ticking. Honour the commitment that you made and pay up now, 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 Prime Minister emphasized that the government has issued a licence to allow the transfer of the £2.5bn, which has remained frozen since the Chelsea sale.

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Dispute Over Use of Funds

The government wants the money to be directed exclusively to humanitarian aid in Ukraine, while Abramovich’s representatives have argued that the funds should support all victims of the war, potentially including Russian civilians.

• Under UK sanctions, Abramovich cannot access the funds personally.
• Treasury officials have confirmed that the licence stipulates the money cannot benefit any sanctioned individual, including Abramovich himself.

Foreign Secretary Yvette Cooper told the BBC:

“He needs to honour that commitment, pay that money. We are urging him not to pursue further court action, but if he does, the government will take the matter to court.”

Chancellor Rachel Reeves added:

“It is unacceptable that more than £2.5bn owed to the Ukrainian people remains frozen in a UK bank account.”

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Background: Abramovich and Chelsea Sale

Abramovich, a Russian billionaire with wealth from oil and gas, sold Chelsea FC following the Russian invasion of Ukraine in 2022. A special UK licence allowed the sale on the condition that he would not personally benefit from the proceeds.

He is alleged to have close ties to Russian President Vladimir Putin, though Abramovich has denied these claims.

The UK government has reportedly given Abramovich 90 days to release the funds before legal proceedings are initiated.

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Wider International Context

The issue comes ahead of a planned review by EU leaders on proposals to use frozen Russian assets to help support Ukraine’s budget and defence needs. Russia has strongly opposed these measures.