His spokesman said that two large UK properties believed to be owned by Russian billionaire Alisher Ustanov will not be subject to government sanctions as they were placed in “irrevocable Trusts” many years ago.
sanctioned Mr Usmanov earlier this month.
His assets were frozen and he was banned from traveling to the UK. No British citizen or business could deal with him.
He and Russia’s former deputy Prime Minister, Igor Shuvalov became the 12th, and 13th, oligarchs sanctioned by Britain over Russia’s invasion in Ukraine.
Foreign Secretary Liz Truss stated at the time that individuals closely linked to the Putin regime, his barbarous war, were being targeted.
His net worth is estimated at around PS13.8bn. His net worth was estimated to be around PS13.8bn.
A spokesperson for the oligarch stated that neither one of these assets can be frozen as they aren’t his.
He stated that all of Mr Usmanov’s assets were settled in the irrevocable trusts well before the sanctions.
“It had nothing do with sanctions and was determined through estate planning.”
Downing Street believes that the sanctions will still be effective. However, it is coordinating its efforts to other countries.
“We are confident that these sanctions will have an important impact on Usmanov. “I think of that there’s not doubt,” said the official spokesperson for prime minister.
“And, most importantly, when it is sanctions, we are moving as one with our Western allies whenever possible, so those who may wish to move assets will discover they’re not welcomed in the vast majority the Western world.”
It is believed that Mr Usmanov owns a villa in Sardinia, as well as the largest superyacht in the world by gross tonnage, Dilbar. This was seized in Germany .
Dilbar boasts the largest swimming pool on a yacht, two helicopter pad, a beauty salon and space for 24 people in 12 suites.