The UK Government has confirmed that funds from the 2022 sale of Chelsea Football Club remain frozen in a UK bank account, as ministers continue to work on a legal mechanism to transfer the money to humanitarian efforts in Ukraine.
In a letter dated 16 May 2025, Defence Secretary John Healey responded to a question from Labour MP Alice Macdonald raised during the 22 April parliamentary debate on Ukraine. The letter, now placed in the House of Commons library, provides the latest update on the long-delayed transfer of the funds.
“We are determined to see the proceeds reach humanitarian causes in Ukraine as soon as possible,” Healey wrote. “We are doing everything we can to bring that about quickly.”
The proceeds — which came from the sale of the club following sanctions imposed on then-owner Roman Abramovich — have remained untouched amid ongoing legal and procedural challenges. Abramovich, who was sanctioned by the UK Government in response to Russia’s invasion of Ukraine, agreed that the proceeds would go to victims of the war.
Healey described the situation as a “complex legal issue” and noted that the Government is working with international partners, has engaged with Abramovich’s representatives, and is exploring “all options” to ensure the funds reach those in need.
The money remains frozen while a new independent foundation is being established to manage and distribute the proceeds. Once operational, the foundation is expected to direct the funds toward humanitarian support for Ukrainians affected by the conflict.
No timeline has yet been given for the release of the funds.
Make every single £ publicly traceable, including interest and “management fees”.
“Where there’s money” and all that.
This is a political decision. The money should clearly go to Ukraine. Give it to them immediately. The Russians can go whinge and complain all they like.
They’ve got no recourse as I think you’ll find all the senior henchmen in Putin’s inner circle are wanted by the ICC for crimes against humanity.