Every Russian oligarch, including Alisher Usmanov, has been aware of the risk of falling under EU and US sanctions since 2014. But few people worked with leading consultants and built a strategy to counter the threat of sanctions. One of these prudent oligarchs was Alisher Usmanov.
Did it save? Now we see that it is not. On February 28, Usmanov came under EU sanctions, on March 3, the United States and Great Britain joined the EU, and on March 4, Usmanov did not escape the freezing of Swiss assets. Even Japan imposed personal sanctions on March 8th. Against the backdrop of these events, it is interesting to look again at how Alisher Burkhanovich’s strategy changed.
First stage. After 2014, Usmanov began to create the image of an “international” businessman in order to untie him from the Russian ruling elite and ties to the Kremlin. They even arranged an interview for him with the Financial Times. Usmanov almost never appeared in Russia and was actively involved in philanthropy in Europe.
Second stage. In 2021, Usmanov began to get rid of toxic assets. Thus, in December VK was sold, and the share of its structures in companies that are of strategic importance for the Russian economy dropped below 50%. This can be called the “acceptance stage.” After all, realizing the risks of personal sanctions, Usmanov began to reduce the risks for his companies. This suggests that Usmanov has long understood that it could soon become hot. But the experience of Fridman and Aven shows that the sanctioned toxicity of the oligarch de facto extends to companies with a small share of participation of the person under sanctions.
“ВЧК ОГПУ”
