US sanctions financial network linked to Russian oligarch Usmanov

WASHINGTON

The US sanctioned a financial network Wednesday comprised of dozens of entities linked to Russian oligarch Alisher Burhanovich Usmanov in a bid to further restrict Moscow's access to international banking.

In all, 25 individuals and 29 entities are being blacklisted by the Treasury Department while the State Department concurrently sanctioned multiple entities involved with Russia's defense sector and individuals associated with Russia’s State Atomic Energy Corporation (Rosatom).

“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,” Brian Nelson, the Treasury Department's top official for financial intelligence, said in a statement.

“Today’s action underscores our dedication to implementing the G7 commitment to impose severe costs on third-country actors who support Russia’s war," he added.

Usmanov is one of Russia's wealthiest individuals and the actions taken by the US designate entities and individuals in countries worldwide, including entities linked to his main corporate interest, USM holding, multiple Cyprus-based firms and individuals, executives linked to Usmanov, members of the billionaire Skoch family and family members of a Russian State Duma representative.

Usmanov, who the US labels a crony of Russian President Vladimir Putin, was sanctioned by the Biden administration in March 2022 in response to Russia's invasion of Ukraine and his super yacht was seized by German authorities that month.

Secretary of State Antony Blinken said US-led international efforts to prevent Russia from accessing the international banking systems have forced Russia "to search for alternate routes to finance and fuel its war machine."

"The United States will continue to take action against Russia and those supporting its war in Ukraine, including further implementing the G7’s commitment to impose severe consequences on third country actors who support Russia’s war in Ukraine," he said in a statement.