The United Kingdom has announced that it will issue official instructions for the transfer of 2.5 billion pounds obtained by Russian oligarch Roman Abramovich from the sale of the football club FC Chelsea in 2022, to humanitarian causes in Ukraine. Prime Minister Keir Starmer stated in the House of Commons that the issuance of a transfer license represents the billionaire’s last chance to cooperate, before the British government resorts to legal measures.
“It is unacceptable for over 2.5 billion pounds owed to the Ukrainian people to remain frozen in a UK bank account,” said Finance Minister Rachel Reeves.
Roman Abramovich sold the Chelsea club in 2022 to a consortium led by American businessman Todd Boehly, co-owner of the Los Angeles Dodgers baseball team, for 4.25 billion pounds. The sale took place under pressure from the British government, as a result of sanctions imposed on Russia following the invasion of Ukraine.
The British government granted Abramovich a temporary license for the sale, on condition that the revenues obtained be used to support the victims of the war in Ukraine. The money was deposited in a British account controlled by the oligarch’s company, Fordstam. Since then, the transfer of funds has been blocked due to disputes between Abramovich and the British authorities over whether the money can be spent only in Ukraine or also outside it.
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