The UK government is threatening to sue former Chelsea owner Roman Abramovich, insisting that £2.5bn from the sale of the club be given to help victims of the conflict in Ukraine.
UK Chancellor Rachel Reeves and Foreign Secretary David Lammy expressed their “disappointment” at the lack of agreement with Abramovich on frozen funds from the sale.
The London club was sold in May 2022 after Abramovich was among high-profile Russian oligarchs sanctioned over Vladimir Putin's invasion of Ukraine.
The funds were frozen and were planned to be used to alleviate the suffering caused by the war in Ukraine.
However, an agreement with Abramovich on the release of money held in a British bank account has not yet been reached.
To transfer funds, you must obtain a license from the Financial Sanctions Enforcement Authority.
Reeves and Lammy said: “The government intends to use the proceeds from the sale of Chelsea Football Club to support humanitarian needs in Ukraine following Russia's illegal, full-scale invasion.
“We are extremely disappointed that we have not yet been able to reach an agreement on this issue with Mr Abramovich.
“While we are open to further negotiations, we are fully prepared to pursue this process through the courts if necessary to ensure that victims in Ukraine can access these funds as soon as possible.”
Sourse: breakingnews.ie
