Cash raised from the sale of Chelsea, which was supposed to learn victims of the warfare in Ukraine, has nonetheless not been launched.
The International Workplace has confirmed that the proceeds from the £2.5bn sale virtually three years in the past stay frozen in a UK checking account.
Former proprietor Roman Abramovich was compelled to promote Chelsea in Might 2022.
He had been sanctioned by former Prime Minister Boris Johnson’s UK authorities after Russia’s full-scale invasion of Ukraine due to his shut ties to Russian president Vladimir Putin.
When requested what has occurred to the cash on Monday, a International, Commonwealth & Growth Workplace spokesperson stated: “This authorities is working exhausting to make sure the proceeds from the sale of Chelsea FC attain humanitarian causes in Ukraine as shortly as doable.
“The proceeds are presently frozen in a UK checking account whereas a brand new unbiased basis is established to handle and distribute the cash.
“UK officers proceed to carry discussions with Mr Abramovich’s representatives, consultants and worldwide companions, and we’ll double down on our efforts to succeed in a decision.”
The UK authorities’s place – which has not modified since Sir Keir Starmer’s Labour Get together changed the Conservatives – is that the cash can solely be used for humanitarian functions in Ukraine.
Abramovich has stated he needs the funds to learn “all victims of the warfare” which may imply among the cash going to Russia.
The Charity Fee has confirmed they haven’t but acquired an software to ascertain a basis to distribute the funds.
Chancellor Rachel Reeves signed a cope with Ukraine’s Finance Minister Sergii Marchenko on Saturday to ship £2.2bn of funding to Ukraine’s navy.
The funding can be paid again utilizing the earnings generated on sanctioned Russian sovereign belongings held within the European Union.
The funds don’t embody any of the proceeds from the Chelsea sale.
