The British government is currently focused on unlocking the frozen proceeds from the 2022 sale of Chelsea FC, which was sold by former owner Roman Abramovich for approximately £2.5 billion.

These proceeds, now estimated to be worth £2.7 billion, are controlled by Abramovich's company, Forstdam, and remain frozen in a UK bank account.

As negotiations with Abramovich's representatives have stalled, the UK government is contemplating legal action to resolve the stalemate over the funds.

However, the establishment of this foundation has yet to occur, despite government promises.

The UK government insists that the funds should be exclusively used for Ukraine, while Abramovich's representatives hold differing views on potential spending locations.

The sale was conducted under the condition that the funds would support victims of the Ukraine war, following Abramovich's sanctions due to the Russian invasion.

An independent foundation, led by former UNICEF UK chief Mike Penrose, is planned to manage and distribute the funds once they are released, focusing on support for children of fallen Ukrainian soldiers and various educational and health projects.

The government is preparing to take Abramovich to court to access over £2 billion from the Chelsea FC sale for humanitarian aid in Ukraine.

Abramovich has not publicly commented on the ongoing dispute regarding the fund's allocation, indicating a divergence in focus, as he intends to partially use the funds in Russia.

In addition to the Chelsea funds, ministers are considering the seizure of other Russian assets, valued at around $350 billion, to aid Ukraine, although they face legal and diplomatic challenges.

Foreign Secretary David Lammy has invited Mike Penrose to discuss the situation, emphasizing the urgency of resolving the matter with Abramovich.

Pressure is mounting on Labour leader Keir Starmer from MPs to expedite the release of the funds, especially following recent budget cuts to foreign aid.