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British Foreign Minister David Lammy has promised to take “measures” that could include the launch of a legal affair to release 2.3 billion pounds sterling from the sale of the Chelsea Football Club by the Russian billionaire Roman Abramovich more than two years ago.
The funds, which the British government has frozen and wishes to be diverted to Ukraine, are in the bank account of a dedicated trust for two years, while explaining how exactly the money should be used.
“I am frustrated that this has not happened, is the truth – and that money must be distributed, it must be used,” Lammy told Financial Times in Tokyo. He said he moves to an “action -oriented approach” to try to break the logjam.
He pointed out that his “first instinct is not a dispute” because this road “takes time”, although people familiar with his thought have declared that they are doing to resolve the problem is one of the options of the table. Achieving an agreement with the foundation which will be established to manage money remains another.
Although he recognized that there are “legal complexities” around the problem, he swore: “I am determined to see that money get out and do everything I can to do.”
The position of the British government has been that money must be spent inside Ukraine, while the discussed foundation – which involves the former UNICEF CEO in the United Kingdom, Mike Penrose – made flexibility to support the refugees who fled war, said people familiar with the FT at the FT.
In a message on the Chelsea website in March 2022 – the same month, it was sanctioned by the United Kingdom – Abramovich said that the foundation would be “for the benefit of all the victims of the war in Ukraine”, including by providing “critical funds for the urgent and immediate victims, as well as to support long -term work”.
Lammy’s intervention comes as Kyiv faces increasing pressure after the United States has interrupted all military aid. Citing “the urgency of the moment” and the need to intensify efforts to help Ukraine, he said: “I look at this question carefully.”
The Minister of Foreign Affairs also supported the idea of a new multilateral defense bank this week, to help the United Kingdom and Europe to finance an expansion of their defenses.
The Ministry of Foreign Affairs said: “This government is working hard to ensure that the product of the sale of Chelsea FC is reached humanitarian causes in Ukraine as quickly as possible. The product is currently frozen in a British bank account while a new independent foundation is created to manage and distribute money.
“British officials continue to follow discussions with Mr. Abramovich’s representatives, experts and international partners, and we will double our efforts to achieve a resolution.”
An Abramovich representative did not immediately respond to the request for comments.
