Alisher Usmanov (right) was sanctioned by the UK Government earlier this month
(Picture: AP)Russian billionaire Alisher Usmanov has said he no longer owns a number of properties that have been hit by UK sanctions, according to reports.
Properties in north London and Surrey once owned by the businessman were “long ago” placed into trusts prior to sanctions imposed by the UK Government on March 3, the Guardian reported, citing a spokesman for the oligarch.
Mr Usmanov, 68, who has an estimated net worth of $18.4billion (£13.8billion), was sanctioned along with Igor Shuvalov earlier this month.
Although the Government said assets, including a £48million Highgate home, would be seized, the spokesman claimed the Russian businessman no longer owns most of his properties.
Commenting on the transfer of the assets into trusts, his spokesman reportedly added: “From that point on, Mr Usmanov did not own them, nor was he able to manage them or deal with their sale, but could only use them on a rental basis.
“Mr Usmanov withdrew from the beneficiaries of the trusts, donating his beneficial rights to his family.”
While the spokesman claimed the assets have been moved to trusts, which cannot be altered without the permissions of the beneficiaries, it is unclear when this was done.
Mr Usmanov previously held a 30 per cent stake in Arsenal football club while his company, USM Holdings sponsors Everton’s training ground.
The businessman made his money in mining and telecoms, and owns Russia’s second biggest mobile network MegaFon.
Mr Usmanov is one of over 1,000 individuals and entities who have been sanctioned by the UK Government.
Russian oligarchs now subject to UK sanctions include Mikhail Fridman, Petr Aven, and German Khan.
Commenting on the new sanctions, Ms Truss said: “We are going further and faster than ever in hitting those closest to Putin – from major oligarchs, to his Prime Minister, and the propagandists who peddle his lies and disinformation. We are holding them to account for their complicity in Russia’s crimes in Ukraine.
“Working closely with our allies, we will keep increasing the pressure on Putin and cut off funding for the Russian war machine.”
A Foreign Office spokesperson said: “The sanctions against Alisher Usmanov were enacted with immediate effect.
“He cannot access his assets and it is now illegal for any person or company in the UK to do business with him.
“Our designations are ensuring those propping up Putin’s regime do not benefit from the UK”
