On December 17, 2025, the British government delivered its most forceful ultimatum yet to Russian billionaire Roman Abramovich: release the £2.5 billion proceeds from the 2022 sale of Chelsea Football Club to support humanitarian relief efforts in war-torn Ukraine, or face legal action in UK courts. The saga—spanning nearly four years, multiple governments, and a devastating war—has become a flashpoint in the West’s efforts to hold Russian oligarchs to account and provide aid to millions suffering under Russia’s ongoing invasion.
Prime Minister Keir Starmer, addressing the House of Commons, left no room for ambiguity. "The clock is ticking on Roman Abramovich to honour the commitment he made when Chelsea FC was sold and transfer the £2.5 billion to a humanitarian cause for Ukraine," Starmer declared, according to BBC News. "This government is prepared to enforce it through the courts so that every penny reaches those whose lives have been torn apart by Putin’s illegal war."
The £2.5 billion in question has been frozen in a UK bank account since the spring of 2022, when Abramovich—then the owner of Chelsea FC—was sanctioned by the British government for his alleged ties to Russian President Vladimir Putin. Abramovich has consistently denied any close relationship with Putin, but the UK government, citing national security and solidarity with Ukraine, moved swiftly to freeze his assets following Russia’s full-scale invasion that February.
At the time of the club’s sale, Abramovich pledged that the proceeds would benefit "all victims of the war in Ukraine." However, this phrase has since become the crux of a protracted standoff. According to Sky Sports and The Guardian, Abramovich has insisted that not only Ukrainians, but also Russians affected by the conflict, should be eligible for support from the fund. The UK government, meanwhile, has made clear that the money must be used exclusively for humanitarian causes in Ukraine, and that neither Abramovich nor any other sanctioned individual can benefit—directly or indirectly—from the funds.
"It’s unacceptable that more than £2.5 billion of money owed to the Ukrainian people can be allowed to remain frozen in a UK bank account. It’s time for Roman Abramovich to pay up," Chancellor of the Exchequer Rachel Reeves told The Independent. "If he doesn’t act, then we are prepared to do what is necessary to make sure that money gets to the Ukrainian people." Foreign Secretary Yvette Cooper echoed this sentiment, stating, "This money was promised to Ukraine over three years ago. It is time Roman Abramovich does the right thing, but if he won’t we will act. That’s why the licence has been issued. It is time this money was used to rebuild the lives of people who’ve seen devastation as a result of Putin’s illegal war."
The licence, issued on December 17, 2025, by the UK Treasury, authorizes the transfer of the frozen funds to a new charitable foundation dedicated to humanitarian aid in Ukraine. Under the terms, the proceeds must go to humanitarian causes in Ukraine, while any future gains earned by the foundation may be used more broadly for victims of conflict worldwide. The government has emphasized that all necessary authorizations have now been issued, and the process can move forward—if Abramovich complies.
Yet, the path to disbursing the money remains fraught. Abramovich’s representatives have declined to comment publicly. According to The Independent, Abramovich claims he cannot transfer the money until a separate case against him by the government of Jersey is dropped, further complicating matters. Ministers have expressed growing frustration with the delay, noting that years of negotiations have failed to yield a resolution. The UK government has said it would consider "any proposal" from Abramovich to voluntarily donate the funds to Ukraine, but the clock is now ticking: Abramovich has been given 90 days to act before the government initiates court proceedings.
Meanwhile, the humanitarian need in Ukraine is staggering. According to the United Nations, an estimated 12.7 million people—roughly 36% of the Ukrainian population—require humanitarian support as of 2025. The UN and its partners have appealed for over $3.3 billion in 2025 alone to support those affected by the war, including refugees and internally displaced persons. As Goal.com reported, "the impact this funding could have in meeting these needs cannot be overstated for the people of Ukraine, who have endured relentless suffering since Russia’s full-scale invasion in February 2022."
In the broader geopolitical context, the UK’s move comes just as European Union leaders are set to debate the use of frozen Russian assets to provide Ukraine with a €90 billion loan. Most of these assets, totaling around €185 billion, are held at the Euroclear central securities depository in Brussels. The plan, championed by several EU nations and supported by the UK, is fiercely opposed by Moscow, which has threatened to seize European private investors’ assets in Russia in retaliation. Belgium, where most of the assets are held, has expressed caution, seeking guarantees against liability before releasing any funds. The outcome of these discussions could set a precedent for how the West handles the vast sums of Russian wealth frozen in the wake of the invasion.
For Abramovich, the stakes are high both financially and reputationally. Once a regular fixture at Stamford Bridge, the former Chelsea owner is reportedly living in exile in Turkey, having been sanctioned by both the UK and the European Union. He has previously expressed a wish to return to Chelsea one day to "say goodbye" to supporters, but his future in Britain remains uncertain as long as the sanctions—and the legal battle over the £2.5 billion—persist.
The British government, for its part, insists that the matter is now in Abramovich’s hands. "Once a charitable foundation is established, the proceeds from the sale can be transferred in accordance with the terms authorised by today’s OFSI licence," a spokesperson for the Prime Minister said, as reported by The Guardian. "Mr Abramovich must take the necessary steps to establish the foundation and arrange the transfer in accordance with the licence. In terms of the setting up of that, it’s a few steps away. This is the first step in that process."
The coming weeks will reveal whether Abramovich will comply with the government’s demands or force a high-profile legal showdown. With pressure mounting from both British and international partners, and with millions of Ukrainians still in desperate need, the world will be watching to see if one of Russia’s most prominent oligarchs finally makes good on his promise—or if the courts will have the final say.
