Ukraine Aid From Chelsea Sale Delayed as Approval Process Drags
- A year on from the sale, funds remain frozen in a UK account
- Money planned to be used for humanitarian purposes in Ukraine
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A foundation being set up to aid Ukraine with £2.34 billion ($2.9 billion) in proceeds from Roman Abramovich’s sale of Chelsea FC is nearly ready to go with a proposed chair lined up, but UK government approval is taking longer than expected.
“We’re ready to go and we’re just waiting for approval,” said Mike Penrose, the former Unicef UK chief executive who is acting CEO for the new foundation. “There are complexities and delays based around political approval both between the UK and the EU and within the UK.”