The United Kingdom wants to use the money of the sale of the Chelsea of Roman Abramovich to help the victims of the war in Ukraine. London said he wanted to bring the Russian businessman to court to unlock the frozen funds since he sold the football team he owned for years.
Sanctions
Abramovich, owner of Chelsea from 2003 to 2022, was sanctioned by the British government in March 2022, a few weeks after the Russian invasion of Ukraine. London included him in the black list for his alleged ties with Moscow and with President Vladimir Putin, accusing him of being “pro-Cremlin”.
Due to the sanctions, the magnate was forced to sell the club, purchased in May 2022 by a consortium led by the American entrepreneur Todd Boehly. However, the 2.5 billion pounds (almost 3 billion euros) collected from the sale were immediately frozen and since then an agreement has not been found on how to use them.
Dispute
The British government wants the entire sum to be used for humanitarian purposes in Ukraine. Abramovich, on the other hand, would like the funds to be destined for all victims of the war, including Russian citizens. Waiting for a solution, the money remains blocked and cannot be touched without the go -ahead of the IFSi, the British treasure office in charge of applying financial sanctions.
Great Britain wants the funds to be spent only in Ukraine, in line with a wider European thrust so that Moscow pays the account for the deaths and destruction caused by its invasion, but Abramovich wants the money to go to all the victims of the war.
“We are deeply frustrated by the fact that so far it has not been possible to reach an agreement with Abramovich,” said British Finance Minister Rachel Reeves and the Foreign Foreign Minister David Lammy in a note.
“Even if the door for negotiations will remain open, we are fully ready to pursue the question through the courts, if necessary, to ensure that people suffering in Ukraine can benefit from these proceeds as soon as possible,” said the two.
Other frozen goods
George Foulkes, a member of the Top Chamber of Parliament who fought to obtain the release of the money, said that the government could evaluate the possibility of using other frozen Russian assets to help the victims if you cannot find a legal way to resolve the disagreement.
“It is symbolic, and I think that if he could do it he would create a precedent, and we could examine all the other money blocked in ownership, banks and overseas territories,” he told Reuters.
