Alisher Usmanov has released a statement as Everton face pressure to cut their ties with USM.
A former professional fencer, Mr Usmanov issued his response to being sanctioned by the EU after Russia’s military invasion of Ukraine on the website of the FIE (International Fencing Federation) of which he has been the President since 2008.
He wrote: "On 28 February 2022 I became the target of restrictive measures imposed by the European Union.
“I believe that such decision is unfair, and the reasons employed to justify the sanctions are a set of false and defamatory allegations damaging my honor (sic), dignity and business reputation.
“I will use all legal means to protect my honor (sic) and reputation.
“I hereby suspend the exercise of my duties as the President of the International Fencing Federation effective immediately until justice is restored.”
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MP Chris Bryant has called for Everton to sever their ties with Mr Usmanov, a long-time business associate of Farhad Moshiri, who was named by the EU as one of a number of the businessmen sanctioned on Monday for apparent ties to Russian president Vladimir Putin.
The Uzbekistan-born billionaire has links to Everton, with his company USM Holdings providing a number of Blues sponsorship agreements.
Mr Bryant, the Labour Party representative for Rhondda, told the House of Commons on Tuesday that he felt the Conservative Government is taking too long to introduce UK sanctions.
He said: “I think we need to stand united, end of.
“But the Government has said that it wants quite rightly to sanction Duma (the lower house of the Federal Assembly of Russia) members and it wants to sanction members of the Russian Federation Council but it’s not been able to do so yet.
“Alisher Usmanov has already been sanctioned by the EU but not yet by the UK but I suspect he’ll be pretty soon on a UK list and Everton should certainly be cutting ties with him already.
“Roman Abramovich, well I think he’s terrified of being sanctioned which is why he’s already going to sell his home tomorrow and sell another flat as well.
“My anxiety is that we’re taking too long about these things.
“I’d have a suggestion on what might help. I fear that the Government is frightened of lawyers’ letters from all these oligarchs’ friends.
“One way to circumvent that ministers, just read them to the record in a proceeding in Parliament, all the sanction criteria and then they’d be protected.”
The ECHO has contacted Mr Usmanov's representatives for comment.
In terms of potential action from the Premier League, Mr Usmanov's position is believed to be different to that of Mr Abramovich’s given he is a shareholder in a sponsor organisation rather than a club investor or owner.
The ECHO has also contacted Everton for comment and clarity on the club's stance.
Last Friday, Everton sources indicated there was no current impact on the stadium project and no plans to change sponsorship or USM logos at Finch Farm amid concerns over the situation in Ukraine.
But it remains to be seen what may now unfold in light of developments since then.
In an updated regulation in the Official Journal of the European Union on Monday, Mr Usmanov was named as a "pro-Kremlin oligarch with particularly close ties to Russian President Vladimir Putin".
The document added: "[Usmanov] has been referred to as one of Vladimir Putin’s favorite oligarchs. He is considered to be one of Russia’s businessmen-officials, who were entrusted with servicing financial flows, but their positions depend on the will of the President."
And the EU report went on to conclude that Mr Usmanov "actively supported materially or financially Russian decision-makers responsible for the annexation of Crimea and the destabilisation of Ukraine" and "actively supported the Russian government’s policies of destabilisation of Ukraine."
