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Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539
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Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539
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Rahman Ravelli explains how Russian oligarchs are avoiding sanctions

25 March 2022

With Russian oligarchs attempting to avoid sanctions imposed on those with links to Vladimir Putin’s regime, Rahman Ravelli have outlined the actions they are taking.

In an article that was published by global business news provider Quartz, Rahman Ravelli have explained how oligarchs could use irrevocable trusts.

These trusts, which cannot be modified without a beneficiary’s permission, are attractive to sanctions targets as they enable them to shield assets from UK sanctions.

Taking the example of Alisher Usmanov, Rahman Ravelli have said that if his assets are in a trust in which he lacks any ownership or control, he can keep them out of the reach of sanctions. If Usmanov transferred assets into a trust before the invasion of Ukraine, he could now easily move them into a complex ownership structure that would be difficult for the authorities to unravel.

Rahman Ravelli have made it clear that many recently-sanctioned parties - and parties who fear they might be sanctioned - are doing everything possible to retain their assets. This makes keeping up with such developments a “tall order’’ for Britain’s sanctions regulator.

Rahman Ravelli's comments can be read on the Quartz website

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