Ukraine seeks access to £2.5 billion from Chelsea sale in talks with UK PM

Ukrainian President Volodymyr Zelenskyy held a phone conversation with UK Prime Minister Keir Starmer during which they discussed the possible transfer to Ukraine of part of the frozen funds generated from the sale of the Chelsea football club.

According to Caliber.Az, Zelenskyy reported on the conversation via the social media platform X.

I had a good conversation with @Keir_Starmer – about how to move forward in diplomacy at this stage, and about how, together, we can achieve greater justice in light of everything Russia has brought through this war.

We discussed the details of preparations for a leaders-level…

— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) January 3, 2026

The discussion focused on the need for what was described as a fair resolution regarding the frozen proceeds from the Chelsea sale, amounting to £2.5 billion, which Ukraine considers a significant potential source of support for saving lives and financing post-strike reconstruction following Russian attacks.

In addition to the issue of the frozen assets, the two leaders reviewed preparations for an upcoming meeting at the level of national leaders, which is expected to take place in the near future. Zelenskyy also noted ongoing intensive work by national security advisers, with 18 representatives from European countries participating in joint coordination efforts on the same day. Coordination with the US side is also continuing.

The Ukrainian president expressed appreciation for Starmer’s leadership and support, emphasising that decisions taken by London contribute to strengthening Ukraine’s resilience and advancing efforts toward peace.

The funds in question include £2.35 billion raised from the sale of Chelsea, along with approximately £150 million in accrued interest. These assets have been frozen since 2022 in a bank account belonging to Fordstam Ltd, a company associated with Russian businessman Roman Abramovich. In total, courts on the British island of Jersey have frozen more than £5.3 billion in assets linked to Abramovich.

By Tamilla Hasanova