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Anti-Russian sanctions

Ozon provides clarification on sanctions against Sistema imposed in May

Ozon and its subsidiaries are not designated under the sanctions regimes of the European Union, United Kingdom or the US, the statement says

MOSCOW, June 14. /TASS/. Ozon is not designated under sanctions imposed by the British authorities against Sistema as the corporation neither owns the retailer nor controls it in any other way, the Russian online commerce company said in a statement on Wednesday.

"Sistema, one of our shareholders, was designated under asset freeze sanctions in the United Kingdom on May 19, 2023. For the avoidance of doubt, we would like to clarify that these sanctions affect Sistema and do not extend to Ozon, as Ozon is not owned or controlled, directly or indirectly, by Sistema. Ozon and its subsidiaries are not designated under the sanctions regimes of the European Union, United Kingdom or the US," the statement reads.

"As we have consistently disclosed since 2020, Ozon has no ultimate controlling party, meaning that there is no individual, entity or other person or group of persons that controls Ozon," the company added, noting that Sistema and Baring are independent entities that are not affiliated with each other. "Neither Sistema nor Baring or any other shareholder has the right or de-facto ability to nominate, appoint or remove the majority of our Board," according to the statement.

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Sanctions vs. Russia Internet & Telecom

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