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US sanctions relief against the business interests of a Russian billionaire

US sanctions relief against the business interests of a Russian billionaire

The US Treasury has relieved Russian billionaire Alisher Usmanov (and specifically his interests), one of President Vladimir Putin’s “favorite oligarchs” in the European Union, who has an estimated net worth of $19.6 billion. writes from the inside.

US officials feared that banning hundreds of companies allegedly linked to Usmanov could cause significant disruption to the global economy and supply chain, current and former Treasury officials told the Wall Street Journal.

However, Usmanov was not completely exempted from the penalties, because he did not The exemption only affects your business interests, Property directly related to a person, such as a giant yacht and private jet, is not covered by relief.

Giant yacht for the few, DilbarSource: Wikipedia

On March 3, the US Treasury issued a special license that “authorizes all transactions related to the business of the oligarch and opens all property owned directly or indirectly by Usmanov 50 percent or more.”

As the Wall Street Journal reported, citing current and former Treasury officials, that The decision to limit penalties against Usmanov was influenced in part by the need to avoid oligarchic lawsuits, Which may consume the limited resources of the ministry.

Through financial sanctions against the Russian elite [a szankcionált személyek] “They will no longer be able to access their accumulated assets, travel abroad and generate income from their businesses,” a Treasury spokesperson explained to Insider. The United States continues to freeze and confiscate the assets of the oligarchs and their envoys as they support President Putin’s invasion of Ukraine without provocation.”

Alisher Usmanov with the Russian PresidentSource: Wikipedia

Usmanov’s business interests are great. He controls 49 percent of OOO USM Holding Co. , an investment group that owns iron ore supplier Metalloinvest and Udokan Copper, which is believed to have the largest undiscovered copper deposits in Russia. The Russian telecom company MegaFon is also associated with the oligarch.

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A spokesman for the businessman told the Wall Street Journal that Usmanov previously described the sanctions imposed on him by the United States, the United Kingdom and the European Union as “baseless and unfair” because he said his business receives absolutely no support from the Russian government.

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