UK sanctions ‘financial fixers’ for Russian oligarchs Abramovich and Usmanov

LONDON (Reuters) – Britain on Wednesday sanctioned individuals and companies who it accused of acting as “financial fixers” for Russian oligarchs Roman Abramovich and Alisher Usmanov.

Britain‘s Foreign Office said in a statement the new measures targeted those helping the two prominent businessmen to avoid the full cost of sanctions that were imposed following Russia’s invasion of Ukraine.

“We are closing the net on the Russian elite and those who try to help them hide their money for war,” foreign minister James Cleverly said in the statement. “We will keep cutting them off from assets they thought were successfully hidden.”

The government said sanctions were imposed on Demetris Ioannides and Christodoulos Vassiliades, two Cypriots it described as “professional enablers” who had helped to create offshore structures and trusts.

The sanctions were also targeted at Usmanovs financial network, including companies USM, Curzon Square Ltd, and Hanley Limited, according to the statement.

Britain froze the assets of Abramovich and Usmanov within weeks of Russias invasion of Ukraine in February last year.

(Reporting by Muvija M and Sachin Ravikumar; Editing by Kate Holton)