Sir Keir Starmer warns Roman Abramovich to 'pay up now' as licence issued for transfer of £2.5bn from Chelsea sale to Ukraine

The UK government sanctioned former Chelsea owner Abramovich back in 2022 when Russia invaded Ukraine, with Abramovich said to hold close ties to Russian president Putin, though he has denied those claims. Later that year, the Blues were taken over by the investor consortium BlueCo, led by Todd Boehly and Clearlake Capital, but the multi-billion pound sum has been frozen in a UK bank account for close to four years. There has been little progress in donating those funds to the people of Ukraine and Starmer has now revealed ministers have issued a licence for those proceeds to be transferred to a new foundation relating to humanitarian causes in Ukraine. Sky Sports add the reason behind the stand-off between the two parties is because Abramovich wants some of the money to go to "all victims" of the war, which would see Russia receive some of the funds.

Speaking to members of parliament on Wednesday, Starmer said: “The clock is ticking on Roman Abramovich to honour the commitment he made when Chelsea FC was sold and transfer the £2.5 billion 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."

Chancellor Rachel Reeves added: "It's unacceptable that more than £2.5 billion of money owed to the Ukrainian people can be allowed to remain frozen in a UK bank account. It's time for Roman Abramovich to pay up.

"If he doesn't act then we are prepared to do what is necessary to make sure that money gets to the Ukrainian people."

Foreign secretary Yvette Cooper also said: "This money was promised to Ukraine over three years ago. It is time Roman Abramovich does the right thing, but if he won’t we will act. 

"That’s why the licence has been issued. It is time this money was used to rebuild the lives of people who’ve seen devastation as a result of Putin’s illegal war."

Earlier this year in January, it was reported that Abramovich has been living in exile in Turkey, having been sanctioned by both the UK and the European Union in the wake of Russia's invasion of Ukraine. The billionaire himself had previously revealed his wish to return to Stamford Bridge one day to "say goodbye" to Chelsea supporters, having owned the club from 2003 to 2022.

The Russia-Ukraine conflict has been devastating and has resulted in many nations around the world sending aid to Ukraine, though the United States of America has urged Volodymyr Zelensky to give up areas of Ukrainian territory in order to accelerate a potential ceasefire.

The United Nations estimate around 12.7 million people within Ukraine need humanitarian funding and the government said "the impact this funding could have in meeting these needs cannot be overstated".

The UK government is clear in its stance that Abramovich must hand over the £2.5bn from the sale of Chelsea or face court action. They say they have tried to facilitate the handover of cash since 2022 and warned Abramovich the money will remain frozen while they consider all their options. It is thought Abramovich has 90 days to act towards a resolution before the UK government considers taking legal action against him.

More recently in Ukraine, a Russian attack in the city of Odesa has left tens of thousands of people without electricity for three days, with civilians battling cold temperatures that are set to drop even further over the next month or so.