Overview

• On June 2, Chancellor Rachel Reeves and Foreign Secretary David Lammy announced they will take Roman Abramovich to court over the £2.5 billion proceeds frozen since his 2022 sale of Chelsea FC.
• The funds remain locked in a UK bank account pending a licence from the Office of Financial Sanctions Implementation, with ministers demanding the money be spent exclusively on humanitarian aid in Ukraine.
• Abramovich has sought flexibility to direct the proceeds to all victims of the conflict, but efforts to bridge differences have stalled for nearly three years.
• Humanitarian groups such as Redress and Save the Children have criticised the delay and urged transparent deployment of the funds to meet urgent needs in Ukraine.
• Officials say negotiations remain open but that the government is fully prepared to pursue legal action to resolve the impasse.