12 Apr 2023 15:24

USM holding intends to challenge inclusion in UK sanctions list

MOSCOW. April 12 (Interfax) - Alisher Usmanov's USM holding intends to challenge the UK sanctions, and it considers them unsubstantiated.

The UK once again expanded its sanctions list earlier on Wednesday by specifically including USM Holdings Limited, with the list indicating both this name and the Russian legal entity USM Holding Company LLC; as well as two more Usmanov-associated companies, Curzon Square Ltd and Hanley Ltd, according to the document.

"We consider the UK sanctions against the USM holding and its shareholders unreasonable and unsubstantiated. We intend to challenge the restrictions as illegal," the holding said in a statement to the media.

USM also notes that Usmanov has not been engaged in entrepreneurial activity for a long time, owns less than 50% of the holding, and is not involved in its management.