Background Type 2 diabetes is 2–3 times more prevalent in people of South Asian and African/African Caribbean ethnicity than people of European ethnicity living in the UK. The former 2 groups also experience excess atherosclerotic cardiovascular disease (ASCVD) complications of diabetes. We aimed to study ethnic differences in statin initiation, a cornerstone of ASCVD primary prevention, for people with type 2 diabetes. Methods and findings Observational cohort study of UK primary care records, from 1 January 2006 to 30 June 2019. Data were studied from 27,511 (88%) people of European ethnicity, 2,386 (8%) people of South Asian ethnicity, and 1,142 (4%) people of African/African Caribbean ethnicity with incident type 2 diabetes, no previous ASCVD, and statin use indicated by guidelines. Statin initiation rates were contrasted by ethnicity, and the number of ASCVD events that could be prevented by equalising prescribing rates across ethnic groups was estimated. Median time to statin initiation was 79, 109, and 84 days for people of European, South Asian, and African/African Caribbean ethnicity, respectively. People of African/African Caribbean ethnicity were a third less likely to receive guideline-indicated statins than European people (n/N [%]: 605/1,142 [53%] and 18,803/27,511 [68%], respectively; age- and gender-adjusted HR 0.67 [95% CI 0.60 to 0.76], p < 0.001). The HR attenuated marginally in a model adjusting for total cholesterol/high-density lipoprotein cholesterol ratio (0.77 [95% CI 0.69 to 0.85], p < 0.001), with no further diminution when deprivation, ASCVD risk factors, comorbidity, polypharmacy, and healthcare usage were accounted for (fully adjusted HR 0.76 [95% CI 0.68, 0.85], p < 0.001). People of South Asian ethnicity were 10% less likely to receive a statin than European people (1,489/2,386 [62%] and 18,803/27,511 [68%], respectively; fully adjusted HR 0.91 [95% CI 0.85 to 0.98], p = 0.008, adjusting for all covariates). We estimated that up to 12,600 ASCVD events could be prevented over the lifetimes of people currently affected by type 2 diabetes in the UK by equalising statin prescribing across ethnic groups. Limitations included incompleteness of recording of routinely collected data. Conclusions In this study we observed that people of African/African Caribbean ethnicity with type 2 diabetes were substantially less likely, and people of South Asian ethnicity marginally less likely, to receive guideline-indicated statins than people of European ethnicity, even after accounting for sociodemographics, healthcare usage, ASCVD risk factors, and comorbidity. Underuse of statins in people of African/African Caribbean or South Asian ethnicity with type 2 diabetes is a missed opportunity to prevent cardiovascular events., In a retrospective cohort study, Sophie Eastwood and colleagues investigate the association between ethnicity and statin initiation for people with type 2 diabetes in UK., Author summary Why was this study done? People of South Asian and African/African Caribbean ethnicity living in the UK are more likely to have type 2 diabetes than people of European ethnicity, and have higher rates of cardiovascular complications, e.g., heart attacks and strokes. Lowering blood cholesterol with statin treatment reduces cardiovascular complications, but previous studies suggest ethnic differences exist in statin prescribing for people with diabetes. However, no study has sought explanations for identified ethnic differences, or accounted for changes in prescribing guidelines, so we aimed to provide a timely, representative assessment of ethnic differences in guideline-indicated statin prescribing in type 2 diabetes. What did the researchers do and find? We identified people with newly diagnosed type 2 diabetes in primary care eligible for statin treatment for primary prevention of cardiovascular disease, then compared rates of statin initiation for people of European, South Asian, and African/African Caribbean ethnicity. People of African/African Caribbean ethnicity with type 2 diabetes were 24% less likely to receive guideline-indicated statin treatment than people of European ethnicity, and people of South Asian ethnicity 9% less likely. Ethnic differences remained after allowing for differences in cholesterol levels, other cardiovascular risk factors, demographic factors, deprivation, healthcare usage, comorbidity, and polypharmacy. We estimated that equalising statin prescribing rates across these 3 ethnic groups would prevent up to 12,600 heart attacks and strokes over the lifetimes of people currently affected by type 2 diabetes in the UK. What do these findings mean? People with type 2 diabetes of African/African Caribbean and South Asian ethnicities are less likely to be prescribed a statin for primary prevention of cardiovascular disease in the UK than people of European ethnicity. Policies to increase statin use among people of African/African Caribbean and South Asian ethnicity with type 2 diabetes could substantially reduce the excess burden of cardiovascular events in these groups.