The UK government is growing increasingly impatient with Roman Abramovich over the billions of pounds from the sale of Chelsea Football Club.
More than three years after Abramovich was forced to sell the club, the cash remains stuck in a frozen account — and now officials are threatening legal action to unlock the money.
Government Officials Frustrated as Funds Remain Frozen
On Monday, Chancellor Rachel Reeves and Foreign Secretary David Lammy made it clear that ministers are “deeply frustrated” by the ongoing delay.
In a joint statement, they warned that while negotiations with Abramovich are still open, the government is ready to take the dispute to court if necessary.
Their priority is to ensure the money finally reaches humanitarian efforts in Ukraine, which is suffering due to Russia’s invasion.
Why the Sale and Frozen Funds Matter
Back in 2022, Abramovich had to sell Chelsea under pressure from sanctions targeting his alleged connections to Vladimir Putin.
The club was sold for a staggering £2.5 billion, a record-breaking deal.
The UK government promised that the proceeds would go toward humanitarian aid for those affected by the war in Ukraine.
But despite these promises, the money remains locked away in a UK bank account.
Abramovich’s Position on How the Money Should Be Used
Abramovich has argued that the funds should help all victims of the war, not just Ukrainians.
However, the UK government has stood firm, insisting the money must exclusively support humanitarian causes within Ukraine.
This disagreement has added to the complex legal and diplomatic challenges delaying the release of the funds.
Legal and Bureaucratic Hurdles Keep Money on Ice
One major reason the funds remain frozen is that they cannot be moved without special permission from the Office of Financial Sanctions Implementation (OFSI), the same government body that authorized the sale in 2022.
The process is tangled with international regulations and legal obstacles, frustrating campaigners who want to see the funds put to use urgently.
Calls for Transparency Grow Louder
Humanitarian groups and legal charities have voiced concerns about the slow pace and lack of transparency.
In March, Lyra Nightingale from the charity Redress highlighted how the money, committed for urgent humanitarian purposes, has yet to be deployed after three years — raising serious questions about accountability and clarity.
Abramovich’s Impact on Chelsea and His Sanctions
Roman Abramovich originally bought Chelsea in 2003 for £140 million and transformed the club into one of the most successful in England.
Under his ownership, Chelsea won 21 major trophies, including five Premier League titles and two Champions League trophies.
But in March 2022, Abramovich faced a UK asset freeze and a ban from entering the country amid sanctions targeting Russian oligarchs.
Political Leaders Condemn Sanctioned Oligarchs
At the time, then-Foreign Secretary Liz Truss accused oligarchs like Abramovich of having “the blood of the Ukrainian people on their hands” and said they should “hang their heads in shame.”
Abramovich denied close ties to Putin, but Chelsea’s future remained uncertain until a special government licence allowed the club to operate and eventually be sold.
New Ownership Takes Over Chelsea
The sale process was rushed and handled by Raine Bank, which ultimately saw American billionaire Todd Boehly and Clearlake Capital step in as the new owners.
Since then, nearly all of Abramovich’s senior staff have departed from Chelsea as the club moves forward under new leadership.
What Happens Next
As the UK government prepares to possibly take Abramovich to court, the world watches closely.
The main question remains whether the frozen £2.5 billion will finally be released to aid those suffering in Ukraine or if legal battles will drag on.
Abramovich has yet to comment on the latest developments.