What's happening with the funds from Roman Abramovich's £2.6bn Chelsea sale?

PoliticsFootball
28 Oct 2026 • 12:26 AM MYT
The Independent
The Independent

The world’s most free-thinking newspaper

What's happening with the funds from Roman Abramovich's £2.6bn Chelsea sale?

  • Foreign Secretary Ed Miliband faces growing pressure to resolve the standoff over the £2.6 billion proceeds from Roman Abramovich's sale of Chelsea Football Club.
  • The funds have remained frozen in a UK bank account since May 2022, after Abramovich was sanctioned due to his links with Vladimir Putin's regime.
  • Liberal Democrat foreign affairs spokesman Calum Miller urged the government to stop dragging its feet and take Abramovich to court to release the money for Ukrainian war victims.
  • Although a government licence was issued last December permitting the transfer of funds to a Ukrainian humanitarian foundation, no transfer has yet been made.
  • Miliband stated that the government remains determined to resolve the issue and is pushing international allies to utilise frozen Russian assets to support Ukraine.

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