London
Prime Minister Sir Keir Starmer has moved to unlock £2.5 billion from the sale of Chelsea Football Club, directing that the frozen funds be transferred for humanitarian support to Ukraine, in what the government describes as a decisive step to end a years-long stalemate.
The money comes from the 2022 sale of Chelsea by former owner Roman Abramovich, who was sanctioned by the UK following Russia’s full-scale invasion of Ukraine. Although Abramovich pledged at the time that the proceeds would go to victims of the war, the funds have remained frozen in a UK bank account for more than three years due to legal and political disagreements over how and where the money should be used.
Speaking in Parliament, Starmer said the government has now issued a formal licence allowing the funds to be transferred to a dedicated foundation focused on humanitarian aid inside Ukraine. He warned that patience has run out and made clear that the government is prepared to take legal action if the transfer does not proceed.
Officials say negotiations with Abramovich and his representatives repeatedly stalled over conditions attached to the donation. Abramovich has argued that the funds should assist all victims of the conflict, not only those inside Ukraine, a position the UK government rejected. Ministers insist the money must directly benefit people affected by Russia’s invasion within Ukraine itself.
Under the terms set out by the government, Abramovich has been given a limited window to cooperate with the transfer process. If no agreement is reached, the UK is prepared to pursue court action to ensure the money is released. Chancellor Rachel Reeves backed the move, calling it unacceptable that such a significant sum has remained unused while humanitarian needs in Ukraine continue to grow.
The funds are among the largest frozen assets linked to a sanctioned Russian individual in the UK. Their release would mark a major moment in efforts by Western governments to convert sanctioned assets into tangible support for Ukraine, as discussions continue internationally about the use of frozen Russian wealth for reconstruction and relief.
Chelsea FC was sold in May 2022 to a consortium led by Todd Boehly and Clearlake Capital after the government forced Abramovich to divest the club. The sale was approved under strict conditions preventing Abramovich from benefiting financially, but it left unresolved the final destination of the proceeds.
Ukrainian advocacy groups and British lawmakers have long criticized the delay, arguing that bureaucratic deadlock has prevented vital aid from reaching civilians affected by the war. Starmer’s intervention signals a tougher stance by the new government, aiming to convert political commitments into concrete assistance.
Downing Street sources say the government will now closely monitor compliance with the licence and move swiftly if legal enforcement becomes necessary. While Abramovich has not publicly responded to the latest announcement, officials insist the direction of travel is now clear.
As the war in Ukraine enters another difficult phase, the release of the £2.5 billion could provide a significant boost to humanitarian efforts, if the government’s ultimatum succeeds in breaking the impasse that has kept the funds frozen for years.
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