Question to the HM Treasury:

To ask His Majesty's Government how much of the £28.7 billion of frozen Russian assets in the UK has been released to support victims of the conflict in Ukraine; and what progress they have made in the transfer by Roman Abramovich of £2.5 billion from the sale of Chelsea Football Club to a humanitarian cause in Ukraine.

The OFSI Annual Review 2024-2025 in year reporting sets out that OFSI have been notified of approximately £28.7bn in assets frozen in connection with the Russia sanctions regime since February 2022. Although these assets are frozen and cannot be accessed, they remain the property of the individuals and entities designated under the sanctions.

Since Russia launched its full-scale invasion of Ukraine the Government has provided £21.8 billion in support to Ukraine and has committed to providing a further £3bn a year for as long as it takes.

The Government has taken significant action to enable the donation of the proceeds from the sale of Chelsea Football Club to humanitarian causes in Ukraine. On 17 December 2025, HM Treasury issued a licence permitting the transfer of the over £2.5 billion sale proceeds into a new charitable foundation for exclusively humanitarian purposes in Ukraine. The licence provides a clear legal route for the funds to be used as intended, consistent with Abramovich’s commitment that they should benefit victims of the war.

The Government is urging him to act without delay and will consider any proposal he makes to use this route to establish the foundation and transfer the funds.

Should Abramovich fail to free the funds quickly, the UK Government is fully prepared to take him to court if necessary to enforce the agreement reached with him in 2022.