The multi-billion-pound proceeds of Abramovich’s sale of Chelsea Football Club are frozen in a bank account, where they have been since 2022, when the government sanctioned Abramovich over his ties to Vladimir Putin.<\/p>\n
Chelsea was sold by Abramovich to an American consortium after the U.K.’s sanctions watchdog permitted the sale. Abramovich had to demonstrate he would not personally benefit from the transaction \u2014 but the proceeds have remained untouched in a bank due to uncertainty over how exactly they will be used to support Kyiv.<\/p>\n
Previously, Abramovich said he would use the funds to help \u201call victims of the war.\u201d This had been interpreted as help for both Russians and Ukrainians. <\/p>\n
Today, the government said it would consider any proposal toward humanitarian causes in Ukraine, as long as the funds do not benefit Abramovich or other sanctioned individuals.<\/p>\n
It added that any future gains earned by the funds can be spent more broadly, on \u201cvictims of conflict worldwide.\u201d<\/p>\n
Prime Minister Keir Starmer said the government is “prepared to enforce” the commitment for the funds to reach Ukraine, “so that every penny reaches those whose lives have been torn apart by Putin\u2019s illegal war.”<\/p>\n","protected":false},"excerpt":{"rendered":"The multi-billion-pound proceeds of Abramovich’s sale of Chelsea Football Club are frozen in a bank account, where they…\n","protected":false},"author":2,"featured_media":638329,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4],"tags":[331,748,6178,30,393,4884,807,1144,619,332,7339,2663,712,16,657,15,333,1764,771,5113],"class_list":{"0":"post-638328","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uk","8":"category-united-kingdom","9":"tag-banks","10":"tag-britain","11":"tag-conflict","12":"tag-courts","13":"tag-england","14":"tag-great-britain","15":"tag-keir-starmer","16":"tag-northern-ireland","17":"tag-rachel-reeves","18":"tag-russia","19":"tag-russia-sanctions","20":"tag-sanctions","21":"tag-scotland","22":"tag-uk","23":"tag-ukraine","24":"tag-united-kingdom","25":"tag-vladimir-putin","26":"tag-wales","27":"tag-war","28":"tag-yvette-cooper"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115735497757757651","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/638328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=638328"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/638328\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/638329"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=638328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=638328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=638328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}