Russian Oligarch Alisher Usmanov ‘Transferred Assets to Irrevocable Trusts,’ May Evade Sanctions

Russian President Vladimir Putin (R) and founder of USM Holdings Alisher Usmanov (L) look on at the control center of the new workshop producing hot briquetted iron at Lebedinsky Mining and Processing Combine (Metalloinvest MC LLC) in the Belgorod Region, Russia, on July 14, 2017. Mikhail Klimentyev/Sputnik/AFP via Getty Images

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.