Frozen Chelsea Funds: Prolonged Stalemate Triggers Calls for Resolution
Former Chelsea owner Roman Abramovich remains caught in a financial impasse as the £2.5 billion from the club’s 2022 sale—earmarked for Ukraine war victims—remains frozen in a UK bank account. Despite his commitment to using the proceeds for humanitarian aid, legal hurdles and financial sanctions have stalled their release.
Sanctioned by the UK government over alleged ties to Russia, Abramovich has no access to the funds, which remain under strict oversight. While British authorities and international partners have pledged to allocate the money to those in need, nearly three years have passed without any disbursement to Ukraine.
The deadlock has sparked renewed political pressure. Former sports minister Richard Caborn has urged Labour leader Keir Starmer to push the Foreign Office into action, calling the delay unacceptable amid the ongoing crisis. Dame Caroline Dinenage, Chair of the DCMS Select Committee, has also stressed the urgency of resolving the matter.
Meanwhile, Abramovich’s business dealings remain under scrutiny. His holding company, Fordstam Limited, has not filed tax records since 2021, and another firm, MHC (Services) Limited, remains in limbo due to government restrictions.
As the impasse continues, questions arise over the fate of the funds should sanctions be lifted in a future peace agreement. With billions at stake, the issue remains a pressing financial and political challenge demanding immediate attention.
