Britain wants to transfer Abramovich’s frozen $2.8 billion to Ukraine
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The British government is close to allowing the transfer of 2.3 billion pounds sterling ($2.83 billion) from the frozen account of billionaire Roman Abramovich to a new charity fund that will help victims of Russian aggression in Ukraine. This was reported by the British newspaper The Telegraph with reference to informed sources.
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What is known
The British authorities are completing the preparation of all the necessary documents, but they will still need approval from the European Union, since Abramovich is under sanctions both in Great Britain and in the EU, wrote The Telegraph.
Abramovich received this amount from the sale of the Chelsea football club in May 2022.
The donation may become one of the largest in the world for the benefit of victims of similar conflicts, the newspaper noted. The fund can receive money within a few weeks, the publication claims.
Read also: Canada wants to give the arrested assets of Abramovich to restore Ukraine
Sources in The Telegraph say that the foundation is close to being licensed by the UK Charity Commission.
In the coming weeks, the board of the foundation will be presented and its projects will be announced, the board will include “world-renowned” figures from the humanitarian and business spheres, the newspaper claims.
The fund will be managed by Mike Penrose, ex-head of the British division of one of the world’s largest charitable organizations, Unicef, in accordance with the agreement signed by the British government and Abramovich in May 2022, The Telegraph wrote.
Penrose previously told the newspaper that he is in constant contact with the British government and visited Ukraine in 2022.
A small part of the amount from the sale of Chelsea was unblocked in 2022 so that Penrose could hire lawyers to create a legal base for the fund, the manager said.
He said that among the tasks of the fund will be the delivery of humanitarian aid, including medical equipment, as well as assistance to people near the front line with food, education and medical care.
Read also: Abramovich sold Chelsea FC for 2.5 billion pounds
According to the agreement with the government, neither Abramovich nor “Chelsea” can receive profit from the funds allocated to the fund.
Source: Ministry of Finance
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