Russian billionaire and businessman Alisher Usmanov.

Sanctions have blocked Alisher Usmanov from paying workers renovating his villas in Germany, NYT reports.
The Russian oligarch owes local contractors around $1 million, a craftsman told the outlet. 
Usmanov is currently ranked the fifth richest person in Russia, with a net worth of $20 billion.

Sanctions are preventing Russian oligarch Alisher Usmanov from paying an estimated $1 million in wages to German workers renovating his lakeside vacation homes, a local craftsman named Andreas Kitzerow told The New York Times.

From Cyprus to Tegernsee, the luxury yachts and villas of sanctioned Russian billionaires are tucked away in various idyllic corners around the world. This foreign investment can be a powerful source of local income — and some workers are frustrated that it’s been suddenly cut off. 

Kitzerow, who runs a ceramics business in the German resort town Tegernsee, told the Times that the sanctions placed against Usmanov are “outrageous.” 

“He has always been reserved, and he has nothing to do with the war in any way, as far as I can tell,” he told the outlet. “But they think just because he knows Putin or because he’s Russian, they can do this. You shouldn’t pass judgment.”

Kitzerow did not immediately respond to Insider’s request for comment. 

Usmanov, who is currently ranked the fifth richest person in Russia with a net worth of $20 billion, made his riches in the metal and mining industries after the collapse of the Soviet Union. He is described by the EU as “one of Vladimir Putin’s favorite oligarchs” and has allowed several Kremlin officials to use his various residences. 

Tegernsee, a luxury resort town nestled in Germany’s Bavarian Alps. Sanctioned Russian oligarch Alisher Usmanov reportedly owns three villas along the lake.

The craftsman is not the first of Usmanov’s …read more

Source:: Business Insider


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