The UK has cracked down on several financial fixers supporting Russian oligarchs such as Roman Abramovich and Alisher Usmanov, the government revealed in a statement.
The latest sanctions, unveiled on Wednesday, target “those who have knowingly assisted sanctioned Russia oligarchs to hide their assets in complex financial networks” and include Cypriots Demetris Ioannides and Christodoulos Vassiliades.
Ioannides was responsible for crafting offshore structures that Abramovich used to hide more than £760mn assets before he was sanctioned in the wake of Russia’s invasion of Ukraine, the statement said.
Vassiliades was “at the centre of a web” of trusts and offshore companies that linked Usmanov and Sutton Place Estate.
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