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18th Jun 2023

Roman Abramovich refusing to sign off £2.3bn Ukraine deal to send to war victims

Callum Boyle

Roman Abramovich

Abramovich promised to donate the money received from the sale of Chelsea

Roman Abramovich is reportedly refusing to sign off a deal which will see the money received from his sale of Chelsea to war victims in Ukraine.

As reported by the Daily Mail, there are disagreements about where the money should go, with Abramovich seemingly wanting it to go to Russians who have been affected by the war. Both the UK government and European commission meanwhile are strongly opposed to that idea while sanctions against Russia remain in place due to Vladimir Putin’s continued aggression against Ukraine.

As part of the rules, the money is to be solely transferred to humanitarian causes aiding Ukraine.

Abramovich, who is one of the many Oligarch’s sanctioned due to his close relationship to Putin, is reportedly the one who has to ‘sign off’ the release of funds but has refused to do so until the money is distributed across Russia and Ukraine.

Roman Abramovich

Secretary of State James Cleverly admitted last week that he couldn’t guarantee if the money would be sent before the Government breaks for the summer break next month ahead of their return in September.

He said: “We want to make sure that the money that is released goes exclusively to the recipients it is aimed at. I need full reassurance that is the case.”

One source close to the funds told the MailOnline: “It was hoped the money was going to be transferred last summer, then we hoped for developments in January.

“Now we hope money will start arriving in Ukraine before harsh winter conditions set in again towards the end of the year, but there are currently no guarantees that will happen.”

The £2.3bn, which came from the sale of Chelsea to Todd Boehly last year, is currently frozen in a UK bank account belonging to Fordstam, a company controlled by Abramovich.

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