The U.S. imposes sanctions on the "Akhangarancement" cement plant from Uzbekistan and the Akkermann Cement CA company, established by Alisher Usmanov's USM holding, U.S. Department of Treasury reports.
Lamanka Enterprises, registered in Cyprus, acquired 84.197% of the shares of "Akhangarancement" for $48.7mn in May 2021. In January 2022, Lamanka Enterprises and Giacinttar from the British Virgin Islands sold their shares for UZS 1.88 trillion. It was revealed that the buyer of the shares is Akkermann Cement CA, created by Alisher Usmanov's USM holding.
The U.S. Department of Treasury noted that Usmanov has a wide network of offshore businesses and may also use his family members for financial transactions, which allows him to potentially circumvent sanctions.
The U.S. Treasury's Office of Foreign Assets Control (OFAC) has issued a license to cancel transactions with certain companies on the new sanctions list until July 11, including Akkermann Cement CA.
In addition, Metalloinvest, USM Telecom, and Megafon fell under the sanctions, which are all part of Alisher Usmanov's holding. Restrictions were also imposed on the companies that are part of Metalloinvest: Mikhailovsky Mining and Processing Plant, Lebedinsky GOK, and OEMK.
The "Akhangarancement" factory was created in the middle of the 20th century, in 1970 it became a plant, and in 1980 it became a production association. In 1994 it was privatized and transformed into a JSC. Zeromax was the main owner of the enterprise until the Russian "Eurocement" bought a 75.5% stake in 2006. Later, the share increased to 83.9%.
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