Lord Bellingham
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Chelsea FC: Releasing Funds from Sale
Lord Bellingham Excerpts(2 days, 1 hour ago)
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Lord Pitt-Watson (Lab)
The Government’s support for Ukraine now amounts to £25 billion, of which £16 billion is military support. Some £4.3 billion of that was paid this year. The Russian assets remain frozen for the purposes of support to Ukraine.
Lord Bellingham (Con)
My Lords, is the Minister aware that Roman Abramovich has, through his representatives, suggested that against the £2.6 billion there is £1.4 billion in loans from offshore companies? What can he do to stop this money being set against the principal sum?
Lord Pitt-Watson (Lab)
The Government’s position is that Mr Abramovich gave a deed of undertaking when Chelsea was sold that, for the sale to take place, he would meet conditions under European law that the full sale proceeds would go to humanitarian purposes in the Ukraine. That remains the position.