UK Prime Minister Keir Starmer has told the House of Commons that the UK will formally issue instructions to transfer £2.5 billion raised from Roman Abramovich's sale of Chelsea Football Club to humanitarian causes in Ukraine.

Source: European Pravda, citing The Guardian

Details: Starmer warned that this was Abramovich's final chance to transfer the funds to Ukraine, otherwise the billionaire would face legal action.

Quote from Starmer: "The clock is ticking on Roman Abramovich to honour the commitment he made when Chelsea FC was sold and transfer the £2.5bn to a humanitarian cause for Ukraine. This government is prepared to enforce it through the courts so that every penny reaches those whose lives have been torn apart by Putin's illegal war."

Background:

• Russian billionaire Roman Abramovich sold Chelsea FC in 2022 under pressure from the UK government following Russia's invasion of Ukraine.
• Abramovich was granted a licence by the UK government to sell the club on the condition that the proceeds would be used to support victims of the war in Ukraine. The funds from the sale were placed in a UK bank account controlled by Fordstam, a company linked to Abramovich.
• The UK government has previously stated that it may take legal action against Abramovich to secure the transfer of US$3.2 billion from the proceeds of the Chelsea sale for humanitarian purposes in Ukraine.
• UK Foreign Secretary David Lammy has pledged to take steps to help unlock the funds from the sale of Chelsea.

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