Bond reacts to UK government licence to transfer £2.5bn to humanitarian causes in Ukraine

Today, Wednesday 17th December, the UK government has confirmed it will formally issue instructions to transfer £2.5 billion from Roman Abramovich’s sale of Chelsea FC to humanitarian causes in Ukraine. 

The multi-billion-pound proceeds have been frozen in a UK bank account since the sale in 2022, when the UK government sanctioned Roman Abramovich after Russia’s full-scale invasion of Ukraine.

In reaction to the announcement, Romilly Greenhill, CEO of Bond, the UK network of NGOs, said: 

“We welcome the government’s decision to issue a licence which could finally allow for the release of funds from the sale of Chelsea FC into a new foundation for humanitarian causes. Now, it is vital that this licence allows funds to rapidly reach all those around the world impacted by war in Ukraine. 

Each day this money sits unused is a day that people living amid conflict face threats to their safety, security and wellbeing. After more than three years of delays, the government has a genuine opportunity to deliver what others have failed to achieve. There is no further time to waste in urgently transferring this money to help people whose lives have been wrecked by conflict.”

ENDS. 

Notes for editors

1. The UK government announcement is online here.
2. Bond unites and supports a diverse network of over 350 civil society organisations from across the UK, and allies to help eradicate global poverty, inequality and injustice.
3. For further information or interviews, please get in touch with Emily Loynes at [email protected] or 07909947850