British Foreign Secretary David Lammy has promised to take steps to unblock the GBP 2.3 billion received from the sale of Chelsea football club by Russian billionaire Roman Abramovich.
Lammy said this in an interview with the Financial Times, Ukrinform reports.
As noted, the funds that the British government has frozen and wants to redirect to Ukraine have been in the bank account of a special trust for two years, and negotiations on how the money should be used are being delayed.
Lammy emphasized that he was disappointed that it hadn’t happened, stating that it was true and that the money needed to be distributed and used.
He noted that he is moving to an “action-oriented approach” to try to break the impasse.
Lammy emphasized that his “first instinct is not to go through a lawsuit” because this path “takes time.” However, knowledgeable sources say that going to court to resolve the issue is one option the minister is considering.
Another option is to enter into an agreement with a fund that will be created to manage the funds. While Lammy acknowledged that there are “legal complexities” surrounding the issue, he promised that everything will be done.
The British Foreign Secretary said that he was determined to see the money get out the door and would do everything in his power to make that happen.
The British government’s position is that the money should be spent within Ukraine, while the controversial fund, which includes former UNICEF executive director Mike Penrose, insists on flexibility to support refugees fleeing the war, sources familiar with the dispute told the publication.
As Ukrinform reported, businessman Roman Abramovich has Russian, Israeli and Portuguese citizenship. He is, in particular, the majority shareholder of the parent company Evraz, one of the leading Russian groups in the metallurgical industry and mining sector.
Abramovich also played the role of an intermediary in the gradual transfer of the most important assets for Russian television from the Yeltsin family to Putin’s friends.
After Russia’s attack on Ukraine on February 24, 2022, the EU Council, in particular, froze the funds of leading businessmen engaged in activities in sectors of the economy that are a significant source of income for the Russian government.
In December, the Court of Justice of the European Union upheld the restrictive measures imposed by the EU Council against Russian oligarch Roman Abramovich after the start of Russia’s full-scale invasion of Ukraine.
Abramovich was allowed to sell Chelsea on the condition that the money would go to help victims of Russia’s war against Ukraine. He sold the club to a consortium led by American investor Todd Bailey in May 2022.
2025-03-10 11:59:00 ,
