Sanctions on Russia could hit oligarchs with US ties hard
, 2022-02-24 02:00:00,
Among the Russian oligarchs who may be slapped in another round of sanctions over Russian President Vladimir Putin’s invasion of Ukraine is a billionaire who owns the world’s largest yacht — named for his mother.
Alisher Usmanov, 68, is part of a group of billionaires with assets in the West and close ties to Putin who could face economic penalties as the Biden administration, the UK and the EU crackdown on the Kremlin’s inner circle, following Putin’s invasion of eastern Ukraine earlier this week.
President Biden on Tuesday targeted two Russian banks and three oligarchs with alleged links to the Kremlin — and promised to crack down on other members of Putin’s inner circle who profited from their connections to him. Biden has not yet named Usmanov or any individuals other than those announced on Tuesday.
Many in Putin’s circle live lavish lifestyles outside Russia, spending millions on luxury homes, yachts and celebrity-studded parties. It’s a situation that also makes them vulnerable to economic pressure as their assets are increasingly tied up in the West.
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