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UK Threatens Legal Action Over Undistributed £2.5bn From Chelsea Sale

Ministers have opened negotiations, warning they will sue Roman Abramovich unless the frozen proceeds go exclusively to Ukrainian war victims

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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.