Prime Minister Sir Keir Starmer will host Ukrainian President Volodymyr Zelenskyy in the UK on Tuesday, as he warns that the US-Israeli strikes on Iran must not become a 'windfall for Putin'. The visit coincides with the government's deadline for Russian oligarch Roman Abramovich to transfer proceeds from the £2.5bn sale of Chelsea FC to victims of the war in Ukraine.
Abramovich, who previously owned Chelsea, is now expected to face legal action after insisting the funds are his to allocate, including to Russian victims of the war. The British government warned him last year that he must release the cash or face court proceedings. A government source indicated there is no expectation that Abramovich will pay by the deadline. His lawyers at Kobre & Kim stated on Monday that the cash remains 'wholly owned' by Fordstam Ltd, the vehicle through which the billionaire funded Chelsea.
Starmer is likely to face questions over the future of the funds during Zelenskyy's visit. Both Starmer and Defence Secretary John Healey expressed firm support for Ukraine on Monday, confirming continued weapons supplies. The Prime Minister said it 'was vital that we continue to focus on supporting Ukraine. We cannot allow the war in the Gulf to turn into a windfall for Putin.'
Data suggests Russia has received €6bn (£5bn) from selling its fossil fuels in the fortnight since the start of the US-Israel conflict with Iran. Speaking in the Commons, Healey confirmed the UK has delivered 3,500 drones, 18,000 artillery rounds, and 3 million rounds of small ammunition to Ukraine over the past month. He added: 'We face two conflicts on two continents, supported by an axis of aggression with similar tactics and similar technologies. I say this to the Ukrainian people on behalf of the UK: we will not forget the war in Europe and our total determination to stand with Ukraine remains steadfast.'
Russia's commodity revenues are a vital component of state revenue to fund its military operations in Ukraine. Last week, US President Donald Trump activated a one-month waiver allowing countries to buy Russian oil without facing sanctions. The US has previously applied tariffs to countries such as India for purchasing Russian oil. Zelenskyy appeared to push back against Trump's claim that the US did not need Ukraine's help on drone defence, stating that the US had contacted Ukraine 'several times' for assistance, which Ukraine provided.
Healey has previously suggested that Russian President Vladimir Putin's 'hidden hand' lies behind some Iranian tactics, including drone and missile attacks against Gulf states. He said the Russian president is benefiting from the surge in oil prices, which 'helps him with a fresh supply of funds for his brutal war in Ukraine.'
