Overview

• The government insists the £2.5bn sale proceeds must fund humanitarian aid for Ukrainians under the 2022 sale conditions.
• Roman Abramovich proposes channeling the frozen funds through a foundation to benefit all war victims, including Russian civilians.
• Held in trust since 2022 under sanctions, the funds remain Abramovich’s legal assets but have not been released.
• Finance Minister Rachel Reeves and Foreign Secretary David Lammy say talks remain open but are prepared to enforce the agreement in court.
• The dispute highlights the challenge of ensuring sanctioned assets are used as intended for targeted humanitarian relief.