Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what progress the Financial Sanctions Implementation Office has made on establishing the foundation to manage and distribute monies from the proceeds of the sale of Chelsea FC.

The proceeds from the sale of Chelsea FC are currently frozen in a UK bank account while independent experts establish a foundation to manage and distribute the money. A licence from the Office of Financial Sanctions Implementation will then be needed to move the funds to the foundation. We are working hard to reach an arrangement that delivers this money to humanitarian causes in Ukraine as quickly as possible.