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Switzerland unfreezes assets of trusts related to Usmanov — Tages-Anzeiger

Alisher Usmanov’s lawyer explained to the paper that both helicopters and realty are owned not by the businessman, but by trusts he founded many years ago, which are not owned or controlled either by him or by his relatives

GENEVA, January 19. /TASS/. Switzerland’s State Secretariat for Economic Affairs (SECO) has accommodated requests by a firm representing the interests of a trust that was founded many years ago by Russian businessman Alisher Usmanov, to unfreeze assets worth more than 6.5 mln euro blocked in the country as an exceptional case for settlement of accounts on servicing two helicopters in France and property in the UK, the Tages-Anzeiger newspaper wrote citing an order by SECO dated December 22, 2022.

Respective requests were filed by the trust firm in the summer and autumn of 2022, according to documents. They concerned settlement of accounts on servicing helicopters in France and property in the UK drawn up on the basis of contracts concluded before sanctions were imposed.

Usmanov’s lawyer explained to the paper that both helicopters and realty are owned not by the businessman, but by trusts he founded many years ago, which are not owned or controlled either by him or by his relatives.

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