Funds from Chelsea sale remain unreleased by the Government
Its been a couple of years now since the United Kingdom put sanctions on Roman Abramovich. The £2.5bn that were generated from sale of the club are still frozen.
The funds are frozen in a UK bank account despite Roman Abramovich’s commitment to use those funds for humanitarian purposes.
In a recent statement, the European Affairs Committee of the House of Lords expressed their confusion over the funds that remain untouched as they deemed it “incomprehensible.”
A group of Ukrainian human rights groups have written a letter to Rishi Sunak. In the letter they have asked the British Prime Minister to resolve the ongoing deadlock with utilization of the funds that came from the sale of Chelsea. This would likely assist the victims of the conflict going on in the Ukraine.
58 organizations including that of Ukrainian human rights coalition Ukraine 5am signed a letter addressed to Rishi Sunak from the NGO Redress asking him to take action.
“We the undersigned, including victims and survivors of the war in Ukraine, call on you to act to resolve the two-year impasse over the proceeds of the £2.5bn sale of Chelsea FC,” the letter begins with an argument that the funds should be directed “towards the urgent needs of victims and survivors, ensuring that some of the funds are repurposed as reparation for survivors”.
It urges Sunak to look over the current stalemate situation and find other measures to unlock the frozen funds.
“Considering there are substantial funds in question, your government should consider different avenues to repurpose the funds which may be complementary and maximise impact,” the letter continues. We call for the Chelsea FC sale proceeds to be split between humanitarian purposes, reconstruction and reparations for victims of human rights abuses. £2.5bn has the power to transform the lives of many victims of the conflict, allowing them to move forward with their lives.”
The Ukraine 5am coalition as a group of organizations are dedicated in documenting the war crimes by the Russian forces in Ukraine since the invasion of Ukraine in 2022.
United Kingdom government spoke about the “disagreement” they had with Roman Abramovich over the use of the funds. The Government insists that the funds should be spent only within the Ukraine borders.
While the Russian oil billionaire Abramovich claims that the terms of the licence that was originally agreed when sale of the club was given the greenlight did not make such specification. It instead allowed the funds to be expensed “exclusively (on) humanitarian purposes supporting all victims of the conflict in Ukraine, and its consequences”.
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