Russian billionaire Roman Abramovich is under pressure to release £2.5 billion from the sale of Chelsea FC to support victims of the Ukraine war, according to critics. Abramovich, 59, was compelled to sell the Premier League club in May 2022 due to sanctions imposed after Russian President Vladimir Putin’s invasion earlier that year.
Initially promising to donate the proceeds to Ukraine, Abramovich has yet to fulfill this commitment amid a disagreement with the UK government. With growing frustration, the government is now poised to take legal action against Abramovich following the expiration of a 90-day deadline.
A government spokesperson emphasized the urgency, stating, “We gave Roman Abramovich his final opportunity to honor his pledge. Once again, he has failed to follow through. We are now taking further measures to ensure that the promised donation from the Chelsea sale is made.”
Legal battles in Jersey, where £5.3 billion of Abramovich’s assets have been frozen since 2022, could further delay the release of funds. The billionaire, with an estimated worth of nearly £7 billion, has secured a court order for the Jersey government to cover some of his legal costs with Tory frontbencher Lord Wolfson representing him in the case.
Labour MP Joe Powell has directly urged Abramovich to act swiftly, highlighting the critical need for the pledged funds in Ukraine. The government’s intervention has been praised by Redress director Rupert Skilbeck, who stressed the importance of fulfilling the commitment without prolonged delays.
While the situation in Ukraine remains dire, Abramovich continues to lead a lavish lifestyle, reportedly frequenting upscale establishments in Turkey. His assets include the impressive superyacht Eclipse, valued at £1.1 billion, which arrived in a Turkish port this week. Additionally, he possesses private jets and has been linked romantically to actress Alexandra Korendyuk.
Abramovich’s legal team maintains that the Chelsea sale proceeds are under his full ownership, criticizing the government’s handling of the situation as punitive. They assert his dedication to charitable causes and blame governmental restrictions for the delay in utilizing the funds.
