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Dispute Delays Spending Of Chelsea FC’s $2.6 Billion Ukraine Fund

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The delivery of a £2.3bn Ukrainian aid fund raised from the sale of Chelsea FC has been delayed because of wrangling over where the money should be spent.

More than a year since sanctioned Russian billionaire Roman Abramovich sold the Premier League football club, the proceeds remain frozen in a UK bank account.

The delay has highlighted the different negotiating positions held by the government and a foundation being set up to administer the funds over where help should be targeted, which is slowing the passage of humanitarian aid.

One obstacle has been securing agreement over the scope of the foundation and whether it will be allowed to spend money outside Ukraine’s borders, according to three people with direct knowledge of the matter.

Read the full story on the Financial Times here.