"I can announce that we're issuing a licence to transfer £2.5billion from the sale of Chelsea Football Club, that's been frozen since 2022. My message of Abramovich is this: the clock is ticking. Honour the commitment that you made and pay up now, and 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 money has remained frozen in a bank account following the sale after Abramovich was hit with sanctions in the wake of the invasion, with a delay in releasing the funds stemming from a disagreement between the British government and the 59-year-old's lawyers. The terms of the licence state that proceeds must go to humanitarian causes in Ukraine. However, future gains can be used on victims of conflict around the world. Abramovich or other Russian individuals under sanctions cannot benefit."
Prime Minister Keir Starmer warned the UK government will take legal action against Roman Abramovich unless he transfers funds pledged to victims of the war in Ukraine. The 2022 sale of Chelsea to Todd Boehly's consortium, worth up to $4.25 billion, was permitted under a special licence requiring Abramovich not to profit. £2.5 billion has remained frozen after Abramovich was sanctioned following Russia's invasion, and a legal dispute delayed releasing the funds. The issued licence permits transfer of the £2.5 billion to humanitarian causes in Ukraine, allows future gains to aid victims of conflict worldwide, and prevents Abramovich or other sanctioned Russian individuals from benefiting.
Read at 101GREATGOALS.COM
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