Ukraine's Anti-Corruption Court seizes $48 million in assets from Russian oligarch Alisher Usmanov
The High Anti-Corruption Court of Ukraine has ruled to confiscate the assets of Russian oligarch Alisher Usmanov, a billionaire originally from Uzbekistan, amounting to two billion hryvnias (approximately $48 million). This development was reported by Radio Svoboda.
According to Ukraine's Deputy Minister of Justice Inna Bohatyh, who shared the information in a Facebook post, the assets include over 160,000 tons of iron ore belonging to Usmanov. Additionally, 100% of the authorized capital of the company "Peters-Service Ukraine," which Usmanov previously controlled, will be confiscated.
The ruling of the High Anti-Corruption Court of Ukraine has not yet come into effect and can still be appealed.
In 2022, the Security Service of Ukraine reported that iron ore owned by Usmanov was seized from seaports and secret warehouses across the country. According to the security agency, the raw materials were clandestinely planned to be sent to Russia and used in the metallurgical and military industries.
Alisher Usmanov is considered one of the richest individuals globally. Forbes estimates his net worth at $13.4 billion.
Following Russia's invasion of Ukraine in 2022, sanctions were imposed on Usmanov by the EU, the US, and other Western countries. In Germany, his funds, movable and immovable property, believed to be connected to him, were frozen due to these sanctions. Additionally, investigations were launched into allegations of tax evasion and money laundering, as well as violations of sanctions legislation. Searches at properties linked to him were widely publicized.
The European Union justified its decision citing Usmanov’s "special ties" with Russian President Vladimir Putin and his "active support of the destabilization of Ukraine." Usmanov denies having special connections with Putin or influencing political decisions made by Russian authorities.