Everton have confirmed that they are suspending their sponsorship agreements with Russian companies USM, Megafon and Yota with immediate effect.
The Blues have been under increasing pressure to react over recent days after Russia's military invasion of Ukraine.
Alisher Usmanov, owner of USM and its affiliated companies, has ties to Vladimir Putin - and has been recently sanctioned by the European Union due to those links.
And now Everton have released a short statement confirming that they will fully support Ukraine international Vitalii Mykolenko, and suspend sponsorship agreements with USM.
READ MORE: What national media have said about Usmanov and Everton developments
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The statement read: "Everyone at Everton remains shocked and saddened by the appalling events unfolding in Ukraine.
"This tragic situation must end as soon as possible, and any further loss of life must be avoided.
"The players, coaching staff and everyone working at Everton are providing full support to our player Vitalii Mykolenko and his family and will continue to do so.
"The Club can confirm that it has suspended with immediate effect all commercial sponsorship arrangements with the Russian companies USM, Megafon and Yota."
On Monday evening, the European Union revealed that they had imposed sanctions on a number of individuals regarding their ties to Vladimir Putin following the military invasion of Ukraine, with Usmanov being one of those listed.
The Uzbekistan-born billionaire 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 (sic) 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."
Usmanov declined to comment to the Financial Times at that stage, but did release a statement of his own on Tuesday evening.
In it, he described the measures being taken by the EU as unfair and claimed that he would fight to protect his honour and his reputation in the future.
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."
Usmanov also indicated he has suspended his duties as the President of the International Fencing Federation "until justice is restored".
