The British government is preparing for a potential court case against Roman Abramovich after the Russian billionaire missed a deadline to release £2.4 billion from the sale of Chelsea FC. The funds, raised in 2022, were intended to support victims of the war in Ukraine, but a dispute over their use has stalled their release.
Government officials confirmed that Abramovich failed to hand over the money by the 17 March deadline, prompting them to take steps toward legal action. They have written to Abramovich's lawyers warning of the impending case and pledged to increase support for an independent foundation set up to manage the funds once released.
A government spokesperson stated: 'We gave Roman Abramovich his last chance to do the right thing. Once again, he has failed to make the donation he committed to. We will now take further steps to ensure that the promise he made at the time of the Chelsea sale is kept.'
The deadlock centres on whether the money should be spent exclusively in Ukraine or can be used elsewhere. The funds remain in a UK bank account controlled by Abramovich's company, Fordstam. Recent accounts revealed that Jersey authorities may be investigating whether the money constitutes proceeds of crime.
Aid charities welcomed the government's move but warned that delays are already harming Ukraine. Bond, a network of development organisations, urged the government to allow interest accrued since the sale—estimated at £200 million—to be spent outside Ukraine. Alison Griffin of Save the Children said: 'The news that the government is planning to take Roman Abramovich to court to free the Chelsea fund is a significant development. However, we are deeply concerned that this will only further delay the release of these much-needed funds.'
