Russian businessman Roman Abramovich plans to challenge the UK government, using a new charitable foundation to use the frozen £2.35 billion received after the sale of Chelsea, not only for the benefit of Ukraine. This is reported by The Athletic, informs UNN.
Details
It is noted that the new foundation, which is to be registered with the Charity Commission and will be overseen by Mike Penrose, former head of UNICEF, is to outline Abramovich's intention to spend the funds on global needs, rather than limiting their use to Ukraine.
This contradicts the UK government's position on how the proceeds from the sale are spent. They have long threatened to keep the funds frozen if the Russian billionaire does not agree to their expenditure solely for the benefit of Ukraine.
It is indicated that the foundation, which is planned to be named the Foundation for Victims of Conflict, is in the process of registration with the Charity Commission.
As we understand it, the foundation is currently in the process of registration, which we welcome. Mr. Abramovich retains the intention to donate the funds for humanitarian purposes as soon as the relevant legal obstacles are resolved.
Context
The UK government, led by Conservative Prime Minister Boris Johnson, forced Abramovich to sell Chelsea after Russia's invasion of Ukraine in February 2022.
Blue-Co, a consortium led by Todd Boehly and Clearlake Capital, acquired the club in May 2022, but Abramovich's proceeds from the sale remained frozen.
In December, UK Prime Minister Keir Starmer threatened Abramovich with legal action if the Russian oligarch did not agree to the government's terms, adding that "time is running out."
However, Abramovich's representatives have long argued that the agreement never stipulated that the funds would be spent only in Ukraine, and they are now trying to break the deadlock.
In March, Abramovich's legal representatives issued sharp criticism of the Starmer government in the case of transferring funds to victims of the war in Ukraine. In an official letter, lawyers claim that £2.35 billion is still the oligarch's property, and the delay in its payment is caused by the actions of ministers.
Britain is set to transfer billions of Abramovich cash to Ukraine fund - Starmer17.12.25, 14:59