Russian Oligarch Alisher Usmanov, who has been sanctioned by a string of western nations, no longer owns many of his former properties his spokesperson has said, potentially meaning they will avoid such penalties. The Uzbek-born Russian business magnate has been sanctioned by The European Union, the United Kingdom, the United States, and Switzerland due to his close ties with the Kremlin….
Russian Oligarch Alisher Usmanov ‘Transferred Assets to Irrevocable Trusts,’ May Evade Sanctions
March 23, 2022
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Alisher UsmanovBusiness & Economyeconomic policiesEuropeInvestmentMarketsRussia-Ukraine WarRussiansanctionsUKWorld
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The West’s Russia Sanctions Could Lead to Many Unpredictable and Unpleasant Outcomes
Commentary Global supply shocks are historically rare events. All the more extraordinary to have two such shocks in quick succession—the second arriving even before the first has entirely faded away. That is what the world now experiences in the form of the Great Pandemic followed by the Great West-Russia economic war. The most visible symptom…
China Worried About ‘Spillover’ from Russia Sanctions
March 22, 2022
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Business & EconomyChinachina russia cooperationInternational RelationsMarketsPBoCRussia Ukraine invasionsanctionsWorld
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China, which has not condemned Russia for invading Ukraine, has raised concerns about the “spill-over effect” of the widespread international sanctions slapped on Moscow. “Both [China and Pakistan] expressed concerns about the spill-over effects of unilateral sanctions,” Reuters reported the Chinese foreign ministry said after China’s foreign minister Wang Yi met with his Pakistani counterpart…
UK Government Dismisses Fears Russian Oligarch May Evade Sanctions
March 22, 2022
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Business & Economyeconomic policieseconomyEuropeMarketsRussia-Ukraine Warrussian oligarchssanctionsUKUkraineWorld
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The British government said it remains “confident” that sanctions will have a “significant impact” on Russian oligarch Alisher Usmanov despite his alleged attempt to put his assets beyond the reach of the law. Media reports said on Tuesday that Usmanov may have put many of the UK properties and assets he owned out of the…
Russian Billionaire’s Superyacht Seized by Gibraltar Authorities
March 22, 2022
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Business & Economyeconomic policieseconomyEuropeGibraltarGrant ShappsMarketsRussia-Ukraine Warrussian oligarchssanctionsUKUkraineWorld
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A luxurious superyacht linked to a Russian billionaire currently under British and European Union sanctions has been detained in Gibraltar, a British overseas territory. The 72-metre long vessel, Axioma, which belongs to Russian oligarch Dmitry Pumpyansky, docked in Gibraltar on March 21 and was subsequently detained by authorities. Commenting on the seizure, UK Transport Secretary…
Russian Oligarch’s Superyacht Seized After Docking in Gibraltar
March 22, 2022
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Business & Economyeconomic policieseconomyEuropeGibraltarMarketsoligarchPutinRussiaRussia-Ukraine WarsanctionssuperyachtUkraineVolodymyr ZelenskyWorld
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A superyacht linked to the owner of Russia’s largest steel pipe maker, subject to sanctions by the European Union due to the Ukraine invasion, has been seized by authorities after docking in Gibraltar. Western sanctions on Russian oligarchs over Russian President Vladimir Putin’s invasion of Ukraine have triggered an exodus of luxury yachts from Europe…
Sanctioning China: The Experts Weigh In
Commentary The month of March has seen the United States, the United Kingdom, and the European Union hit Russia with a whole host of economic sanctions, and further sanctions will likely follow. Now, though, it’s time to turn our attention to China. After all, Chinese leader Xi Jinping won’t rest until his number one obsession,…
Poland Mulls ‘Freeze and Seize’ of Russian-Owed Property
March 21, 2022
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Business & Economyeconomic policieseconomyEuropeInternationalPolandRussiaRussia-Ukraine WarsanctionsWorld
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Polish Prime Minister Mateusz Morawiecki has called for Russian-owned properties in Poland to be frozen and confiscated as part of the Western sanctions response to Russia’s invasion of Ukraine. Many countries have imposed sweeping sanctions on Moscow, targeting banks and trade, and seizing assets like Russian oligarchs’ luxury yachts. Italy has seized property belonging to…
Poland Mulls ‘Freeze and Seize’ of Russian-Owned Property
March 21, 2022
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Business & Economyeconomic policieseconomyEuropeInternationalPolandRussiaRussia-Ukraine WarsanctionsWorld
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Polish Prime Minister Mateusz Morawiecki has called for Russian-owned properties in Poland to be frozen and confiscated as part of the Western sanctions response to Russia’s invasion of Ukraine. Many countries have imposed sweeping sanctions on Moscow, targeting banks and trade, and seizing assets like Russian oligarchs’ luxury yachts. Italy has seized property belonging to…
Russia’s Sberbank Says Sanctions Limiting Some Forex Transfers in Russia and Abroad
March 19, 2022
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Business & Economyeconomic policieseconomyEuropeForexInternationalLimitMarketsRussiaRussia-Ukraine WarsanctionsSberbanktransferWorld
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Russia’s largest lender Sberbank on Friday said sanctions on its operations meant its customers would be unable to transfer funds in certain foreign currencies to accounts at other banks, both in Russia and abroad. Unprecedented Western sanctions have hit the heart of Russia’s financial system over events in Ukraine and Sberbank was among the companies…
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