The UK government is preparing for a court fight with Roman Abramovich after he missed the deadline to release some £2.5 billion he raised from the sale of Chelsea Football Club.
The Russian oligarch, who is subject to UK sanctions, was given a March 17 deadline to hand over the money by Prime Minister Sir Keir Starmer last year.
It comes amid an ongoing dispute over how the cash will eventually be spent.
Government officials have now said they are preparing for a legal case so the funds can be spent for humanitarian purposes in Ukraine.
A government spokesperson said: “We gave Roman Abramovich his last chance to do the right thing. Once again, he has failed to make the donation he committed to.
“We will now take further steps to ensure that the promise he made at the time of the Chelsea sale is kept.”
The Prime Minister formally issued instructions to transfer £2.5 billion from Mr Abramovich’s sale of Chelsea FC to humanitarian causes in Ukraine in December.
Sir Keir warned the billionaire to commit the funds or face legal action from the UK Government.
“My message to Abramovich is this: the clock is ticking, honour the commitment that you made, and pay up now, and if you don't, we're prepared to go to court so every penny reaches those whose lives have been torn apart by Putin's illegal war,” Sir Keir said at the time.
Chancellor Rachel Reeves added that it was “unacceptable” that some £2.5 billion of money “owed to the Ukrainian people can be allowed to remain frozen in a UK bank account”.
Mr Abramovich sold Chelsea in 2022 following pressure from the British government after Vladimir Putin launched his full-scale invasion of Ukraine.
He was granted a licence to sell the club as long as the money was spent supporting the victims of the war.
The proceeds were placed in a UK bank account controlled by Mr Abramovich’s company Fordstam.
But there has been deadlock ever since over whether the money should be spent exclusively in Ukraine or whether it can be used to support victims of the elsewhere.
