The UK Prime Minister has expressed that Russian oligarch Roman Abramovich must 'pay up now' to victims of the war in Ukraine or risk facing court action.
Mr. Abramovich, the former owner of Chelsea Football Club, had previously pledged that money from the sale of the club would benefit victims of the Russian invasion of Ukraine in 2022.
However, £2.5 billion from the sale has remained frozen in a British bank account since Abramovich's imposition of sanctions following the invasion.
Delays in releasing the funds have emerged due to disagreements between the UK government and Abramovich’s legal representatives.
Speaking in the Commons, Sir Keir Starmer stated, 'The clock is ticking,' urging Abramovich to fulfill his commitment. He added, 'If you don't, we're prepared to go to court and ensure that every penny reaches those whose lives have been torn apart by Putin's illegal war.'
The UK government threatened to sue Mr. Abramovich last June, emphasizing that under the terms of the license, the funds must support 'humanitarian causes' in Ukraine, and cannot benefit Abramovich or any other sanctioned individual.
While the UK government aims to direct the money towards Ukrainian humanitarian assistance, Abramovich has expressed a desire for it to support 'all victims of the war in Ukraine.'
As a billionaire who accrued his wealth primarily in oil and gas, Abramovich was granted a special license to sell Chelsea, provided it could be proven that he would not benefit from the sale proceeds. Despite the sanctions restricting him from accessing the funds, the money remains legally his.
