• UK gives Roman Abramovich a final chance to release £2.5 billion from Chelsea FC sale.
• Abramovich faces potential legal action if humanitarian funds are not released.
• UK government insists funds should only support Ukrainian humanitarian causes.
• Flexibility in fund distribution is a point of contention between Abramovich and the UK.
• European leaders discuss proposals for using Russian assets to aid Ukraine.

The UK government has warned Russian oligarch Roman Abramovich that he must release £2.5 billion (approximately $3.33 billion) from the sale of Chelsea Football Club to support victims of Russia’s invasion of Ukraine or face legal action. Access to these funds has been restricted since his sanctions post-invasion in 2022, with the proceeds frozen in a UK bank account as a part of measures against Russian oligarchs, according to BBC, Reuters, and Al Jazeera.

Prime Minister Keir Starmer sent a stern message on the urgency of the matter, stating that Abramovich needed to honor his commitments swiftly. "The clock is ticking," Starmer insisted, emphasizing the UK government's readiness to pursue legal routes if necessary to ensure that the funds are allocated for humanitarian causes supporting Ukraine, according to Channel News Asia, Reuters, and Al Jazeera.

In line with a broader European push for accountability from Russia, the UK insists that the funds must be directed solely to humanitarian purposes. Abramovich has previously expressed a desire for greater flexibility regarding the use of these funds, proposing that they should assist "all victims of the war in Ukraine," a stance that has contributed to ongoing disputes with the UK authorities, as detailed in Channel News Asia, Reuters, and BBC.

The UK has granted Abramovich 90 days to comply with the requirement under the new license to facilitate the potential establishment of a charitable foundation aimed at the targeted distribution of funds. Failure to act promptly may force the UK government to take legal action to enforce the agreement from 2022, which prohibits him from benefiting from the sale, according to Channel News Asia, Al Jazeera, and Reuters.