Representatives of Roman Abramovich believe that the UK government altered the terms of the deal regarding the utilization of funds from Chelsea’s sale meant to aid Ukrainian war victims. A stalemate of 17 months has left the proposed charitable foundation undeveloped, with the proceeds frozen in his Fordstam company’s UK bank account.
Abramovich fund dispute
While the government sanctions Abramovich, a license granted in May 2022 initially permitted the creation of a foundation supporting “all victims of the conflict in Ukraine.” Now, the government insists on using the funds exclusively for “humanitarian purposes in Ukraine.”
The UK Charity Commission hasn’t received an application to establish the foundation yet, and Redress has urged the government to issue new licenses to allocate some Chelsea funds to existing organizations.