Lord Ahmad of Wimbledon, the Foreign, Commonwealth and Development Office, has provided the following answer to your written parliamentary question (HL2826):
Question by Lord Alton of Liverpool:
To ask His Majesty’s Government what steps they are taking to ensure the prompt delivery of the pledged £2.5 billion from the sale of Chelsea Football Club to support victims of Russia’s invasion of Ukraine; and when they anticipate that this will happen. (HL2826)
Tabled on: 28 February 2024
Answer:
Lord Ahmad of Wimbledon:
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 as quickly as possible, including with our international partners, to ensure funds are released and reach Ukraine.
Date and time of answer: 13 Mar 2024 at 16:28.
