Pressure grows for release of Chelsea sale funds

U.K. Foreign Secretary David Cameron is "under pressure to finally tear up an agreement with Europe amid intensifying anger" that about $2.95B from the sale of Chelsea is "still in limbo after 18 months." Former Chelsea owner Roman Abramovich first promised proceeds for “all Ukraine war victims” after putting Chelsea up for sale on March 2 last year. However, the fund has "remained untouched in a frozen account since the club’s sale," in part because of "bureaucratic quagmire" between the U.K. government and Europe. U.K. ministers signed a "unilateral declaration in May with the European Commission stating the money would be spent 'exclusively' within Ukraine." The license granted by the U.K. government setting out the "next stage in this process expires on Nov 30" (London TELEGRAPH, 11/27).