British Prime Minister Keir Starmer has warned Russian businessman Roman Abramovich that the “clock is ticking” for him to release £2.5 billion (approx. KES 431 billion) from the sale of Chelsea Football Club to aid victims of the war in Ukraine.

This high-stakes financial standoff, unfolding thousands of miles away in London, carries direct implications for Kenyans. The same war in Ukraine that prompted these sanctions has disrupted global supply chains, driving up the cost of fuel, fertiliser, and wheat in Kenya, ultimately hitting the price of everyday staples like bread and ugali.

The massive sum has been frozen in a British bank account since Abramovich sold Chelsea FC in May 2022 after being sanctioned for his alleged ties to Russia's President Vladimir Putin. Abramovich had pledged the proceeds would benefit “all victims of the war,” a position the UK fears could allow funds to be diverted to Russians.

A Standoff Over Billions

The core of the delay is a dispute over the funds' destination. The UK government insists the money must be used exclusively for humanitarian purposes inside Ukraine. Abramovich, however, has maintained a broader interpretation of his original pledge. Because the money still legally belongs to him, it cannot be moved without his agreement or a court order.

To break the deadlock, Starmer announced in the House of Commons that his government has now issued a legal licence to enable the transfer. This move is designed to force Abramovich's hand before the government initiates what could be a lengthy court battle.

“My message to Abramovich is this: the clock is ticking,” Starmer stated emphatically to MPs. “Honour the commitment that you made and pay up now, and if you don't, we're prepared to go to court so every penny reaches those whose lives have been torn apart by Putin's illegal war.”