UK officials are preparing for a possible court case against Roman Abramovich after he missed a deadline to release £2.4bn from the sale of Chelsea FC. The Russian billionaire failed to hand over the money by 17 March, amid a dispute over how it should be spent.
Government officials said they would now take steps to prepare for legal action so the funds can be used for humanitarian purposes in Ukraine. They have written to Abramovich’s lawyers to warn them, and will increase support for an independent foundation set up to distribute the money.
Abramovich sold Chelsea in 2022 under pressure from the UK government after Russia’s invasion of Ukraine. Because he was under sanctions, the government granted a licence for the sale on condition the proceeds support victims of the war. Since then, the two sides have been deadlocked over whether the money must be spent exclusively in Ukraine.
Aid charities welcomed the government’s push but warned delays were hurting Ukraine. Bond, representing development organisations, urged ministers to issue a new licence allowing interest accrued since 2022 – thought to be around £200m – to be spent outside Ukraine. Ministers have indicated openness to future gains being used elsewhere, but not the current funds.
