Foreign, Commonwealth and Development Office written question – answered on 16th March 2023.
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, when he expects the humanitarian fund set up with the proceeds of the sale of Chelsea FC will start delivering funds to support those affected by the invasion of Ukraine.
The proceeds from the sale of Chelsea FC (£2.35 billion) are frozen in a UK bank account. They cannot be moved or used without a licence from The Office of Financial Sanctions Implementation. An independent foundation is being established to manage and distribute the funds for humanitarian purposes in Ukraine. Humanitarian experts outside of Government are responsible for this highly complex process. Setting up an organisation of this scale rightly takes time.
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