Around £2.5 billion from the sale of Chelsea FC is sitting in Roman Abramovich's bank account rather than supporting victims of the Ukraine war, an MP claimed today.
The government came under fire for "taking so long" to sort out the cash transfer after the club's former owner was sanctioned following Russia's invasion.
Oligarch Mr Abramovich put the Premier League side up for sale in March, shortly before he was sanctioned over links to Russian President Vladimir Putin - when Liz Truss said he had blood on his hands for being "complicit".
The billionaire businessman said at the time that a charitable foundation would be set up to provide "critical funds" - but the House of Commons yesterday heard this has not happened.
Labour MP Chris Bryant, who chairs the All-Party Parliamentary Group (APPG) on Russia, said: "One of the people who is sanctioned in the UK is Roman Abramovich.
"Chelsea was sold on May 30, but the billions of pounds are sitting in his bank account because the Foreign Office still hasn't set up the fund so that the money can be given to the people of Ukraine.
"Why is the Foreign Office taking so long? When is it going to be sorted?"
American magnate Todd Boehly bought Chelsea in May for £4.25billion, with an estimated £2.5billion in proceeds from the sale frozen in a UK bank account so it can be transferred to the foundation.
In response a Foreign Office minister said he could not comment on specific cases.
Rehman Chishti said 1,100 people with a global net worth of £130 billion, including 123 oligarchs and their families, had seen their assets frozen. In addition 19 Russian banks and more than 120 companies had been sanctioned.
"That demonstrates our commitment that we will do everything we possibly can, applying our criteria set by this Parliament, to bring those to account," Mr Chishti said, but Mr Bryant responded: "Nonsense."
Mr Abramovich, who had purchased Chelsea in 2003, put the club up for sale at the start of March, saying: "I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. This foundation will be for the benefit of all victims of the war in Ukraine. This includes critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery."
When sanctions were placed on Abramovich and six other oligarchs on March 10, then-Foreign Secretary Liz Truss said: "Today’s sanctions show once again that oligarchs and kleptocrats have no place in our economy or society. With their close links to Putin they are complicit in his aggression.
"The blood of the Ukrainian people is on their hands. They should hang their heads in shame."
The Mirror has contacted the Foreign Office for clarification.
