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UK Sanctions Abramovich, Usmanov Advisers Over Wealth Shielding

  • UK says Abramovich moved £760 million ahead of sanctions
  • Families of Russian billionaires accused of acting as proxies

The UK and US imposed sanctions on key advisers to Russian billionaires Roman Abramovich and Alisher Usmanov, accusing them of having helped the oligarchs hide their assets to avoid financial penalties linked to Russia’s invasion of Ukraine.

In one of the first big moves against so-called enablers, the UK said a pair of Cypriots helped to shield the billionaires’ wealth from asset freezes by moving their funds to family members and…

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