Russian oligarch moved wealth before sanctions in 27 Swiss accounts of sister

Before he could be sanctioned in reprisal for the war on Ukraine, a millionaire in Vladimir Putin's inner circle shifted billions of dollars in cash, houses, and a yacht out of his name.

Alisher Usmanov is also linked to at least 27 Swiss bank accounts, according to reports.

The information, which was obtained by journalists working on the Russian Asset Tracker project, casts doubt on the effectiveness of Russian oligarchs' punishments since the invasion of Ukraine began.

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Financial pressure has been applied to Russian President Vladimir Putin, his closest associates, and their families by the United Kingdom, the United States, and EU member states.

An investigation of stolen documents reveals that billions of pounds linked to Russian businessman Alisher Usmanov and his business empire were stored in hidden Swiss accounts belonging to his family.

Saodat Narzieva, Usmanov's 56-year-old sister, appears to have been the beneficial owner of at least 27 secret Credit Suisse corporate accounts, including one with approximately 1.9 billion Swiss francs (CHF) ($2.12 billion).

Sanctions against Usmanov have been imposed by the European Union.

Narzieva works as a gynaecologist and obstetrician in Tashkent, the capital of Uzbekistan.

Her identity is linked to Credit Suisse accounts in the Suisse Secrets Project, a data breach affecting 30,000 Credit Suisse clients.

It is not clear why her name would be linked to accounts associated with her brother’s business empire.

(With inputs fromagencies)