Labour declines to set deadline for releasing Abramovich’s £2.6bn Chelsea funds to Ukraine

Labour announced it will not commit to a concrete deadline for releasing the £2.6 billion tied to Roman Abramovich’s former Chelsea ownership, which remains frozen in a British bank account. The money, intended for Ukrainian humanitarian assistance, has been held since Abramovich’s forced sale of the club in May 2022 following sanctions. Liberal Democrat foreign affairs spokesman Calum Miller questioned the government, but ministers, including parliamentary under-secretary Uma Kumaran, said no new licence period or court date has been set after the previous 90-day licence expired.

The Foreign Secretary affirmed determination to act but offered no specific timetable, prompting criticism that empty promises hinder aid to Ukraine. The issue reflects broader calls to channel Russian sovereign assets toward Ukrainian support, a policy the Labour government says it will pursue with EU partners.