Pressure Mounts on Labour Ministers to Release Abramovich's £2.5bn for Ukraine

Labour ministers have not yet initiated discussions with representatives regarding the £2.5 billion earmarked for humanitarian aid in Ukraine, following Roman Abramovich’s sale of Chelsea FC amid UK sanctions due to Russia’s invasion of Ukraine. The funds, which are currently frozen in a UK bank account, were pledged to assist war victims but are stalled due to lack of engagement between Labour ministers and the foundation tasked with managing the funds.

The Foreign, Commonwealth and Development Office (FCDO) stated it is in talks with Abramovich’s representatives, yet multiple sources indicate no minister has met with the foundation since Labour came to power. This delay has raised concerns among humanitarian organizations, particularly as the UK aims to redirect parts of its overseas aid budget towards defense.

Abramovich sold the club with the intention of donating the proceeds through a foundation to benefit all victims of the war. However, the UK government contends that the funds should exclusively be allocated for humanitarian support within Ukraine. Disagreements have arisen regarding the intended scope of the aid, with possibilities of extending assistance to victims outside Ukraine per suggestions from Abramovich’s lawyers.

The situation is further complicated by European Union sanctions and decisions from Portuguese authorities that permit the funds’ use strictly for humanitarian purposes. While there were previous positive discussions regarding potential resolutions, no agreements have been finalized, leaving the funds—along with any interest—in limbo.

The humanitarian crisis in Ukraine continues to escalate, and advocacy groups have stressed that the delay in accessing the funds is detrimental. A House of Lords committee previously criticized the government’s inaction, dubbing it “incomprehensible,” while legal actions to unlock the frozen assets are reportedly under consideration.

As international partners and the UK government work toward a resolution, the urgency of the situation highlights the pressing need for immediate action to support the humanitarian efforts in Ukraine.