Roman Abramovich urged to 'urgently' hand over £2.5billion from Chelsea sale

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Russian oligarch Roman Abramovich must “immediately” release £2.5billon from the sale of Chelsea FC to help victims of the Ukraine war, say critics.

The billionaire was forced to sell the Premier League club in May 2022 after he was sanctioned following Russian President Vladimir Putin ’s invasion earlier that year.

Abramovich , 59, had promised to give the proceeds of the big money deal to Ukraine, but on his terms.

Yet four years on, the funds remain frozen amid a dispute between him and the UK government. With frustration mounting, the government is preparing to take legal action against the tycoon after a 90-day deadline expired on Tuesday.

A government spokesperson said: “We gave Roman Abramovich his last chance to do the right thing. Once again, he has failed to make the donation he committed to. We will now take further steps to ensure that the promise he made at the time of the Chelsea sale is kept.”

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The release of funds risks being further delayed by a court battle in Jersey, where £5.3billion of the businessman’s fortune’s have been frozen since 2022.

The tycoon, said to be worth almost £7billion, has won a court order for the Jersey government to pay some of his court costs.

Tory frontbencher Lord Wolfson is acting on behalf of Abramovich in the Jersey case.

Joe Powell, a corruption campaigner and the Labour MP for Kensington and Bayswater, has written to Abramovich accusing him of using an unacceptable “delaying tactic”.

In the letter, he said: “I am writing to urge you to immediately release the money from the sale of Chelsea FC in 2022. Ukraine is in desperate humanitarian need as the illegal and senseless war continues. The more than £2.5billion that you agreed with the UK government would be spent on supporting victims in Ukraine is needed urgently.”

Rupert Skilbeck, director of the group Redress, which pursues legal claims on behalf of survivors of torture in the UK and around the world , told the Mirror : “We welcome the government’s move to end this stalemate.

“The onus is now on Roman Abramovich to deliver on his pledge: £2.5billion from the Chelsea FC sale must finally reach victims of the war in Ukraine, providing urgent humanitarian aid and reparations. Court delays cannot leave those in urgent need waiting for half a decade or more.”

Abramovich made his billions in the post-Soviet Russian era, and has been said to be an ally to Vladimir Putin which he has denied.

While the suffering in Ukraine goes on, Abramovich continues to live an extravagant lifestyle.

The last reports suggested he was in Turkey where he was said to frequent some of Istanbul’s most exclusive restaurants along the Bosphorus Strait.

Sources at the time suggested Abramovich may have been planning to make Istanbul a permanent base.

He is believed to still own the 163 metre Eclipse, the world’s third biggest superyacht, which include a 16 metre swimming pool which has a base that can be raised to transform into a dance floor. The £1.1billion luxury vessel can also accommodate three helicopters.

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Records show the Eclipse arrived at the Turkish port on Monday this week.

Publicity-shy Abramovich is also said to still own a number of private jets, including a Boeing 787-8 Dreamliner and a Gulfstream.

The three times divorced tycoon was recently romantically linked to Alexandra Korendyuk, a 25-year-old actress with Ukrainian roots.

According to a report from earlier this month, Abramovich’s lawyers at Kobre & Kim said the money from the sale of Chelsea remains “wholly owned” by their client and accused the government of “politically charged and highly publicised statements” on him.

They said Abramovich remains fully committed to using the money for charitable purposes and the government’s restrictions on how it can be spent were to blame for the delay.