June 2, 2023

Dubai Week

Complete Dubai News World

US and British sanctions on people close to wealthy Russians

According to AFP, the US and Britain announced sanctions on Wednesday against close associates of wealthy Russians, including members of the Roman Abramovich and Alisher Usmanov circles, for helping these oligarchs hide their money.

The two countries added dozens of individuals and companies to two sanctions lists in an effort to curb the activities of influential people accused of supporting the government of Russian President Vladimir Putin and his war on Ukraine.

At the same time, Washington imposed sanctions on companies in Hong Kong, Turkey and the United Arab Emirates that it said were selling drones and electronics, including American-made semiconductors, to the Russian defense ministry.

The US State Department specifically targeted the Chinese company “Head Aerospace Technology”, which it said was selling satellite images to the “Wagner” military group, and blacklisted the “Patriot BMC” group, another private Russian militia, according to Defense Minister Sergei Shoigu.

Among those targeted by the new British sanctions are Cypriot nationals Dimitris Ioannidis and Christodolos Vassiliades.

London pointed to the first established structures and investment funds abroad that Roman Abramovich hid 760 million pounds (863 million euros) before sanctions were imposed following the Russian invasion of Ukraine at the end of February 2022.

British sanctions also target several structures of the Alisher Usmanov network and members of other wealthy Russian families.

British Foreign Secretary James wisely warned in a statement that there was “nowhere to hide”.

Cleverly said the UK would seize assets it believed the “Russian elite” had “successfully hidden”.

London insists it has frozen 18 billion pounds ($20 billion) worth of Russian assets since the Russian invasion of Ukraine began.

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