LONDON
Former Chelsea Football Club owner Roman Abramovich should release £2.5 billion ($3.4 billion) from the sale of the team to help support Ukraine or face legal action, UK Prime Minister Keir Starmer said on Wednesday.
Speaking in the House of Commons, Starmer was responding to questions from MPs on what the UK is doing to support Ukraine as the war with Russia enters its fourth winter.
He said the government has been working with Ukraine and its international partners on how frozen Russian assets could be used to assist civilians affected by the war.
Starmer announced that the UK is now taking steps to unlock funds from the sale of Chelsea, which Abramovich sold in 2022 after being sanctioned by the UK following Russia's "special military operation."
The £2.5 billion (nearly $3.4 billion) in proceeds have since been frozen in a UK bank account. Abramovic had pledged to spend the money in supporting the victims of Ukraine war.
"Today I can announce that we're issuing a license to transfer £2.5 billion from the sale of Chelsea Football Club that's been frozen since 2022," Starmer said.
"My message to Abramovich is this: The clock is ticking, honor the commitment that you made, and pay up now. And if you don't, we're prepared to go to court, so every penny reaches those whose lives have been torn apart by Putin's illegal war."