Rob Harris, Sports Correspondent
The £2.5 billion generated by Roman Abramovich’s sale of Premier League side Chelsea remains frozen by the British government almost two years later, without being released to aid Ukraine.
The west London club was put up for sale within days of Russia’s full-scale invasion of Ukraine, which saw Abramovich placed under sanctions in March 2022 for his links to Russian President Vladimir Putin. .
The Blues were ultimately sold in May 2022 to American sports mogul Todd Boley and investment firm Clearlake Capital.
Mike Penrose, who has worked for humanitarian causes for nearly 30 years, was tasked with setting up a foundation to support causes in Ukraine.
He could not be reached for comment and the government could not say today why the foundation does not yet exist.
The Foreign, Commonwealth and Development Department told Sky News: “The proceeds from the sale of Chelsea FC will be frozen in a UK bank account and a foundation will be established where independent experts will manage and distribute the funds.
“You will need a license to transfer funds to the foundation.
“We want this funding to reach Ukraine as soon as possible and remain open to any arrangement that unequivocally achieves this.”
The high-profile UK representative last worked under Abramovich in 2022.
But the Guardian newspaper reported last year that Mr Abramovich’s representatives wanted the money to go towards humanitarian aid for “all victims of the conflict in Ukraine”.
And Europe Minister Leo Docherty said in December that there was a “disagreement” with the oligarch over whether the funds would be used only within Ukraine.
Last month, the House of Lords European Affairs Committee called on the government to “use available legal channels to swiftly resolve this impasse” to ensure Chelsea funds can be spent in Ukraine.
“It is incomprehensible that sanctioned Russian businessman Roman Abramovich’s promise to use the proceeds from the sale of Chelsea FC to support Ukraine has not been fulfilled and his assets remain frozen,” the commission’s report said. Stated.
“This impasse reflects negatively on both Mr. Abramovich and the government, which should have pushed for more binding commitments.”