Roman Abramovich Sold Chelsea FC and Pledged $3 Billion for Ukraine Victims. The Money Is Frozen in the U.K.

LONDON—Two weeks after Russian tanks rolled into Ukraine, Russian oligarch Roman Abramovich said he would sell his soccer club Chelsea FC and donate the billions of dollars in proceeds to the victims of the war in Ukraine. At the time, it seemed an elegant solution for a billionaire under growing scrutiny in the West for his ties to Russian leader Vladimir Putin. 

Yet more than a year and a half later, the $3 billion donation is sitting frozen in a U.K. bank account amid a long-running dispute with the British government over how the vast sum should be spent.