The UK Government has warned Russian billionaire Roman Abramovich that it is prepared to take legal action over the £2.5 billion proceeds from the sale of Chelsea Football Club, which have been frozen since 2022. These funds were intended by Abramovich to support victims of the war in Ukraine, but their release has stalled over a dispute regarding how and where they should be allocated.

Sanctioned in the aftermath of Russia’s full-scale invasion of Ukraine, Abramovich was forced to sell the Premier League club in a rushed deal to a consortium led by U.S. investor Todd Boehly and Clearlake Capital in May 2022. The proceeds remain locked in a UK bank account, inaccessible without clearance from the Office of Financial Sanctions Implementation (OFSI).

While Abramovich has expressed a desire to use the funds to support all victims of the war—regardless of nationality—the UK insists the money be directed solely to Ukraine, reflecting a broader European effort to hold Russia financially accountable for the invasion's human toll and destruction.

In a rare joint statement, UK Finance Minister Rachel Reeves and Foreign Secretary David Lammy emphasized the government’s stance: “We are determined to see the proceeds from the sale of Chelsea Football Club used for humanitarian purposes in Ukraine following Russia’s illegal, full-scale invasion. We are deeply disappointed that an agreement has not yet been reached with Mr. Abramovich.”

They added that while negotiations remain open, the UK is "fully prepared to pursue this through the courts if necessary."

The sale proceeds, held under strict sanctions oversight, cannot be moved or utilized without OFSI approval.