Espreso Global Russia-Ukraine war UK's Lammy aims to unblock £2.3 billion from Chelsea sale for Ukraine

UK's Lammy aims to unblock £2.3 billion from Chelsea sale for Ukraine

10 March, 2025 Monday

14:40

The proceeds from the club's sale, which the UK government has frozen with the intention of redirecting them to Ukraine, have been held in a special trust's bank account for two years

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The Financial Times writes that UK Foreign Secretary David Lammy has pledged to take action to release £2.3bn in frozen funds from the sale of Chelsea Football Club, which has been held in a trust for over two years.

The funds, frozen by the UK government following Roman Abramovich’s sanctions, are intended for humanitarian aid in Ukraine. Lammy expressed frustration over the delay, stating that the money needs to be distributed urgently.

While litigation is one option, Lammy remains focused on reaching a resolution through negotiations. The funds’ allocation remains disputed, with the UK government aiming for Ukraine-focused spending, while the foundation handling the money seeks broader flexibility for refugee support.

The United Kingdom is reportedly advising Ukraine on negotiations with the United States ahead of the Ukrainian delegation's visit to Saudi Arabia to avoid a new dispute with Donald Trump.