UK Government Issues Ultimatum to Abramovich Over Chelsea Sale Funds
The UK government has given Russian oligarch Roman Abramovich an ultimatum to commit £2.5bn ($3.3bn) from the sale of Chelsea Football Club to humanitarian causes in Ukraine, or face potential legal action, according to multiple sources.
Background and Context
Abramovich, who is subject to UK sanctions, has been under increasing pressure to make good on his pledge that money from the sale of Chelsea FC would go to benefit Ukrainians impacted by the ongoing conflict. Prime Minister Keir Starmer told the House of Commons that the funds would be converted into a new foundation for Ukraine. The standoff between Abramovich and the UK government over the funds has been ongoing for over three years, according to Italian newspaper Corriere della Sera.
The clock is ticking on Roman Abramovich to honor the commitment he made when Chelsea FC was sold and transfer the £2.5 billion to a humanitarian cause for Ukraine,
Starmer said on Dec. 17, as reported by Kyiv Independent.
Abramovich's Response
However, as per Corriere della Sera and La Repubblica, Abramovich has taken his time responding to the demands, expressing a wish to include Russian victims in the distribution of these funds. The British prime minister, however, has indicated readiness to take the Russian oligarch to court within 90 days if the funds are not transferred as demanded.
Legal Implications
The issuing of a licence for the transfer was the last chance Abramovich would have to comply before legal action was taken, Starmer told the Commons. If Abramovich fails to comply with the order, he could face court action, Deutsche Welle reported.
Pay up now
was the stark message from the Prime Minister to Abramovich as reported by BBC News and Sky News World, echoing the firm stance taken by the UK government.
Conclusion
This development marks a significant escalation in the UK's efforts to pressure Abramovich into fulfilling his pledge. The ultimatum issued to Abramovich illustrates the government's determination to ensure that the proceeds from the sale of Chelsea FC are used to benefit those affected by the conflict in Ukraine. The looming threat of legal action underscores the gravity of the situation and the potential consequences for Abramovich should he fail to comply with the UK's demands.