Sports
Starmer prepared to take Abramovich to court
The UK government is prepared to take legal action against the former Chelsea owner as funds pledged to Ukraine remain frozen.
The Prime Minister of the United Kingdom, Sir Keir Starmer, has threatened to take former Chelsea owner Roman Abramovich to court unless he pays the money he promised to victims of the war in Ukraine following his sale of the Premier League club.
Russian oligarch Abramovich was given a special licence for his 2022 sale of Chelsea from the British government provided he did not profit from it. Russia invaded Ukraine in February of that year.
Abramovich pledged at the time that money from the sale of the club would go to victims of the war. A consortium led by Todd Boehly completed a takeover deal worth up to $4.25 billion in May of that year.
Starmer sends message to former Chelsea owner
The money has remained frozen in a bank account following the sale after Abramovich was hit with sanctions in the wake of the invasion, with a delay in releasing the funds stemming from a disagreement between the British government and the 59-year-old’s lawyers.
Speaking in the House of Commons on Wednesday, Starmer said: “I can announce that we’re issuing a licence to transfer £2.5billion from the sale of Chelsea Football Club, that’s been frozen since 2022.
“My message of Abramovich is this: 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 terms of the licence state that proceeds must go to humanitarian causes in Ukraine. However, future gains can be used on victims of conflict around the world. Abramovich or other Russian individuals under sanctions cannot benefit.
Abramovich is unable to access the $2.5bn under UK sanctions, though legally the money is still his.
