The United States on Wednesday increased the ambit of sanctions imposed on Russian oligarchs and related entities. The US Treasury and State departments ticked off nearly 120 targets to squeeze Russia for its ongoing war with Ukraine.
Russian billionaire businessman Alisher Usmanov was one of the main targets in the new list. It is believed that Usmanov is extremely close to Russian President Vladimir Putin and Dmitry Medvedev, the former Russian president.
The Treasury Department accused him of having a “wide network of businesses in financial safe havens and family members through which to conduct financial transactions, enabling him to potentially circumvent sanctions”.
USM Holdings, Miramonte Investments, Savoler Development and Windfall Properties amongst others were the companies targeted by the department.
Megafon, one of Russia’s big four telecoms operators has also been named on the list. Up until now, the US had stopped short of sanctioning Russia’s telecom infrastructure.
“As the Kremlin seeks ways around the expansive multilateral sanctions and export controls imposed on Russia for its war against Ukraine, the United States and our allies and partners will continue to disrupt evasion schemes that support Putin on the battlefield,” said US Treasury Under Secretary Brian Nelson.
Firms in ally nations targetted
Additionally, Cyprus-based “financial fixers” who helped Usmanov as well as fellow Russian billionaire Roman Abramovich were also made privy to the fresh sanctions.
Firms in Hong Kong, Turkey and the UAE which have been allegedly selling drones and other electronic gadgets to the Russian defence sector were also slapped with sanctions.
Experts stated that sanctioning Turkish and UAE firms suggested that even partner nations were not immune from US action if they attempted to support Russia.
The US Treasury in a statement added that Budapest-based International Investment Bank (IIB) which has majority-Russian ownership was also brought under the sanctions list.
“IIB’s presence in Budapest enables Russia to increase its intelligence presence in Europe, opens the door for the Kremlin’s malign influence activities in Central Europe and the Western Balkans, and could serve as a mechanism for corruption and illicit finance, including sanctions violations,”
Ever since Russia invaded Ukraine in France last year, the US has actively imposed sanctions on Russian companies as well as oligarchs. It has also urged countries across to impose sanctions and stop any financial dealing with Moscow.
(With inputs from agencies)
