Russian billionaire Roman Abramovich has been given a final chance to turn over the 2.5 billion pounds ($3.25 billion) that he promised to give victims of Russia's war in Ukraine from the sale of Premier League club Chelsea, the British government said Wednesday.
Abramovich was forced to sell the club after being sanctioned by the U.K. for his connection to Russian President Vladimir Putin, following Moscow's full-scale invasion of Ukraine. Before the sale in 2022, Abramovich said that he would set up a war victims' charity, but hasn't followed through.
“The clock is ticking on Roman Abramovich to honor the commitment he made when Chelsea FC was sold," Prime Minister Keir Starmer said. "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.”
Abramovich couldn't immediately be reached for comment.
The funds are frozen, but still belong to Abramovich, and negotiations have failed to reach an agreement on their release.
Abramovich, who bought Chelsea in 2003, sold the club to a consortium fronted by Americans Todd Boehly and Clearlake Capital. Chelsea won the Champions League twice and the Premier League five times — among other titles — during Abramovich’s time as owner.
