Kirsan Ilyumzhinov Blacklisted by the US Government

Время публикации: 26.11.2015 04:04 | Последнее обновление: 18.12.2015 03:37

Two days ago, he has celebrated the 20th anniversary of his FIDE presidency

The US Department of the Treasury has added Kirsan Ilyumzhinov to its list of sanctioned persons and entities. The FIDE President is now treated by the US government as a specially designated person which means that his US assets, if any, are now blocked and the US citizens are generally forbidden to deal with him.

Among the new entries in the list, one can see also Russian Financial Alliance Bank in which Ilyumzhinov has a 19% share. The bank has been operating at the Russian financial market since 1992 and is rated #643 in the Russian Federation banking system, according to the size of its assets, informs One of the major shareholders of the bank (19.75%), Mudalal Mtanyus Khuri, can be found in the same list of persons and entities sanctioned by the US.

"Ilyumzhinov is a wealthy Russian businessman, former president of the Russian Republic of Kalmykia, and long-time World Chess Federation president. He is linked to financial transactions involving Khuri-associated companies as early as 1997 and owns or controls the Russian Financial Alliance Bank, along with Khuri", the US Department of the Treasury reports.

According to this report, the essence of the accusations is that Ilyumzhinov is involved in "materially assisting and acting for or on behalf of the Government of Syria, Central Bank of Syria, Adib Mayaleh, and Batoul Rida". The latter two persons had been sanctioned by the US earlier.

Kirsan Ilyumzhinov himself has already commented on the situation:

"I think this is a provocation. On Sunday, just in a few days, I have a scheduled visit to the USA to negotiate and sign the agreement on the World Championship match that will take place in New York in November 2016. It is yet to be sorted out why they added me in that list. I will go to the Treasury to ask them what's wrong and what questions they've got to me", the FIDE President told Russia 24 TV channel, as quoted by "In general, of course this is unexpected, I'm a bit surprised".

Only two days ago, Kirsan Ilyumzhinov has celebrated the 20th anniversary of his FIDE presidency, while earlier, in his interview to Chess-News, he had stated that the next World Championship match would certainly take place in the USA in October 2016.

Photo credit: TASS



According to the information

According to the information I saw, Ilyumzhinov was the chairman of the RFA Bank Board of Directors from June 2013 to June 2014, and Khuri has been the chairman since June 2015. Someone named Kirill L. Ugolnikov (Угольников Кирилл Львович) was the chairman in between, but no sanctions were raised against him. The bank has not produced any quarterly reports since mid-2014. From the last such report, if I am reading it correctly, Khuri had sold off half his 19.75% holdings (owned thru "Эникоин") in early 2014 to Медведева Ирина Владимировна. But maybe I have the details wrong, as the e-disclosure information indicates this was something like a transference of voting rights.

If my understanding of the

If my understanding of the company information is correct, Khuri only bought Эникоин (19.75% owner of RFA Bank) in March/April of 2014 (half of the Эникоин voting rights had been assigned to Irina Medvedeva in Feb 2014 as noted above), and prior to that it was owned by Морозов Владимир Витальевич.

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