Name: UK to transfer €2.8bn of Abramovich’s Chelsea cash to Ukraine fund
Uploaded: 2025-12-17T17:20:30.382Z
Duration: 1 min 2 s
Description: Since the Russian billionaire sold Chelsea in 2022 under pressure from the British government, the funds from the sale have been frozen. PM Starmer is now allowing him to use it, but only for one cause: to help Ukraine.

Since the Russian billionaire sold Chelsea in 2022 under pressure from the British government, the funds from the sale have been frozen. PM Starmer is now allowing him to use it, but only for one cause: to help Ukraine.

The United Kingdom has granted a license permitting the transfer of €2.8 billion from the sale of Chelsea Football Club, previously owned by Russian oligarch Roman Abramovich, to humanitarian causes in Ukraine. The funds, which had been frozen since Abramovich was sanctioned following Russia's invasion of Ukraine in 2022, will be managed by a new foundation led by the former head of UNICEF UK.

Under the new arrangement, the proceeds must initially be directed to Ukrainian humanitarian efforts, though future gains may be allocated to victims of conflicts worldwide. The decision follows the British government's crackdown on Russian oligarchs and aims to support those affected by the ongoing conflict in Ukraine.

UK to transfer €2.8bn of Abramovich’s Chelsea cash to Ukraine fund

The United Kingdom issued a licence to allow the funds from the sale of Chelsea football club to be transferred to humanitarian causes in Ukraine. Russian oligarch Roman Abramovich sold Chelsea in 2022 under pressure from the British government. The funds from the sale have since then been frozen. UK's Prime Minister Keir Starmer is now allowing him to use the money, but only to help Ukraine. Under the new licence, proceeds must be directed to humanitarian causes in Ukraine, but future gains may be spent more broadly on victims of conflicts worldwide. The UK sanctioned Abramovich in a crackdown on Russian oligarchs after Russia's full-scale invasion of Ukraine in 2022, which had triggered the rushed sale of the English Premier League football club. The UK government has now promised to establish a foundation to disperse the funds, headed by the former head of UNICEF UK.

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