Earlier, The Telegraph reported that the British Cabinet is close to transferring money to a special fund that will help victims of Russia's "military operation" in Ukraine.

Billionaire Roman Abramovich is not involved in the distribution of money from the sale of the Chelsea football club, which he owned: the money was never transferred to the businessman's account, it is managed by the British government. Abramovich's press office stated this to Forbes. So he commented on The Telegraph's information that the UK government is close to allowing the transfer of money to a new fund that will help victims of Russia's "military operation" in Ukraine.

“After the sale of the club, the money was never transferred to Abramovich’s account and has since been at the disposal of the British authorities. Mr. Abramovich does not have access to these funds and is not involved in the process of their distribution, ”the billionaire’s press office said. Even before the sale of Chelsea, Abramovich expressed a desire that the proceeds be donated to a charitable foundation and directed to the needs of the victims on both sides of the conflict between Russia and Ukraine, the press office noted, emphasizing that it was only about humanitarian assistance to the population.

Money from the sale of Chelsea is being held in a frozen account, but the British Cabinet is close to licensing the new fund, unlocking the funds and transferring them to the fund, sources told The Telegraph. We are talking about 2.3 billion pounds (about $2.83 billion at the current exchange rate). London will need the approval of the European Union, since Abramovich is also under sanctions there. The donation could become one of the largest in the world in favor of the victims of such conflicts, The Telegraph noted. In the coming weeks, the foundation's board will be introduced, which will include "globally recognized" figures from the humanitarian and business fields, as well as foundation projects, the newspaper found out. The fund will be led by Mike Penrose, former head of the UK division of Unicef.

Abramovich bought Chelsea in 2003 for $187 million and announced his intention to sell the club in March 2022. The new owners of the team in May 2022 were a group of investors led by American billionaire Todd Boely.