U.K. Foreign Minister David Lammy vowed on March 9 to unfreeze billions of dollars of revenue earned from Russian oligarch Roman Abramovich's sale of the Chelsea Football Club (FC) and send the funds to Ukraine.
Abramovich was forced to sell Chelsea FC once sanctions were enacted against him following Russia's full-scale invasion of Ukraine in February 2022. Abramovich and U.K. officials previously promised the funds from the sale would go to Ukraine.
"I'm frustrated that it hasn't happened, is the truth — and that money needs to be distributed, it needs to be used," Lammy told the Financial Times (FT) on March 9.
2.3 billion pounds ($2.97 billion) are currently frozen in a U.K. dedicated trust as officials decide how to obtain and utilize the funds.
"I'm determined to see that money get out the door and to do all I can to bring that about," Lammy said.
There are legal complexities, but Lammy said his "first instinct is not litigation" because of how long it could take.
The U.K. government previously reported that the funds intended to help Ukraine remained in limbo due to a disagreement between U.K. officials and Abramovich.
Ukraine's European allies are rushing to increase support following a military aid pause from the U.S. The U.K. has promised to deliver more military aid to Kyiv this year than ever before.
The Kyiv Independent news desk
(Updated: )
