US increases sanctions on Russia

RUSSIA / FSU POLITICS - In Brief 13 Apr 2023 by Alex Teddy
On April 12 the US sanctioned 29 Russian companies and 25 individuals whom it says are connected to the Ukraine War. One of those sanctioned is the deputy prime minister. Megafon, Metalloinvest and Rusatom Overseas are among the companies sanctioned. Alisher Usmanov is the main target of the sanctions. He has interests in metals, mining, tech and telecom. The Uzbek-born oligarch has a net worth of USD 19 billion. He is a Russian and an Israeli citizen. Almenor is a company that is supposedly linked to Usmanov. It is registered in Cyprus and three Cypriot directors of the company have been sanctioned.  The US said it is willing to take action against people in third countries who are indirectly helping fund Russia's war. The United Kingdom has recently intensified sanctions. On March 30 the use of frozen funds to pay legal fees in defamation cases was banned. This was because Yevgeny Prigozhin had been doing just that. On March 28 the UK issued a new regulation on bond amendments for Russian and Belarusians who are not sanctioned. This prohibits doing anything that would directly or indirectly benefit a sanctioned person or entity with regard to bonds or funds held by non sanctioned people and entities. On March 21 the UK stated that it is illegal to provide trust services for the benefit of sanctioned persons or entities. The UK is still going by the EU sanctions against Russia that date back to 2019.

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