Published on December 18, 2025 by Harriet Whitmore

Keir Starmer told Roman Abramovich the clock’s ticking. The Prime Minister announced on Wednesday that the UK government’s issuing a licence allowing £2.5 billion from the Chelsea FC sale to finally reach Ukraine. And if Abramovich doesn’t comply within 90 days, they’re prepared to drag him to court.

“My message to Abramovich is this: the clock is ticking,” Starmer told the House of Commons. “Honour the commitment you made and pay up now, and if you don’t, we are prepared to go to court so every penny reaches those whose lives have been torn apart by Putin’s illegal war.”

That money has been gathering dust in a UK bank account since May 2022, when the Todd Boehly-led consortium purchased Chelsea for well north of £4.25 billion. Abramovich was forced to sell after he was recently sanctioned as a result of Russia’s invasion of Ukraine. He promised at the time that the proceeds would help victims of the war. 

Also read: What to Actually Wear This Christmas Without Looking Like a Walking Cracker

But nearly three years later? Nothing. The funds haven’t moved. 

Chancellor Rachel Reeves did not sugarcoat her words. “It is unacceptable that over £2.5bn of money owed to the people of Ukraine would be allowed to be sitting in a UK bank account,” she said. “It’s time for Roman Abramovich to put his hand in his pocket.”

Here’s where it gets sticky. The hold up stems from a disagreement between Abramovich’s lawyers and the British government over where exactly the money should go. The UK wants funds directed exclusively to humanitarian causes in Ukraine. Abramovich wants the money going to “all victims” of the conflict. This would include Russia.

Yeah, you can see why that’s not flying.

The government has now established a foundation to distribute the funds, led by Mike Penrose, former head of UNICEF UK. The licence states proceeds must go to humanitarian causes in Ukraine, though future gains could potentially be spent more broadly on victims of conflict worldwide. But crucially, Abramovich or other sanctioned individuals cannot benefit.

Sky Sports’ Kaveh Solhekol reckons this won’t be simple. “Abramovich never wanted to sell Chelsea at all. He didn’t need the money. He was very popular with Chelsea supporters. He was forced to sell under the terms of a special licence, which meant the money had to go to victims of the war in Ukraine. Politically, that is difficult for him.”

The Russian-Israeli billionaire’s been keeping a low profile since the invasion, reportedly splitting his time between Moscow, Istanbul and Tel Aviv. He’s not under sanctions in Israel.

Also read: Beyond The Smile: How Gaten Matarazzo Turned a Rare Condition into Strength

Foreign Secretary Yvette Cooper told Sky News they’ve tried “every possible avenue” to get Abramovich to honour his commitment. “We’ve just reached that point. We have tried every possible avenue to get him to do the right thing. And now we are taking this action.”

The UN estimates that about 12.7 million people within Ukraine need humanitarian funding. That £2.5 billion could make a massive difference. But first, it’s got to actually get there.

Abramovich’s got 90 days. After that, it’s the courts.