UK Government Dismisses Fears Russian Oligarch 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

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 law’s reach before being sanctioned.