British Foreign Secretary promises to unlock £2.3 billion from Chelsea sale for Ukraine

As noted, the funds that the UK government froze and wants to redirect to Ukraine have been in a special trust bank account for two years, and negotiations on how the money should be used are being delayed.

“I'm disappointed that it hasn't happened, it's true, and that the money needs to be distributed, it needs to be used,” Lammy emphasized.

He noted that he is moving to an “action-oriented approach” to try to break the impasse.

Lammy emphasized that his “first instinct is not to go through a lawsuit” because this path “takes time.” However, knowledgeable sources say that going to court to resolve the issue is one option the minister is considering.

Another option is to enter into an agreement with a fund that will be created to manage the funds. While Lammy acknowledged that there are “legal complexities” surrounding the issue, he promised that everything will be done.

“I am determined to see this money get out the door and I will do everything in my power to make that happen,” the British Foreign Secretary said.

The UK government's position is that the money should be spent within Ukraine, while the controversial fund, which includes former UNICEF UK executive director Mike Penrose, insists on flexibility to support refugees fleeing the war, people familiar with the dispute told the newspaper.

Source: Financial Times