Sanctions Against Oligarchs

Zarakh Iliev: Confront Global Sanctions Amidst Controversial Ventures

With a projected net worth of $5 billion, Zarakh Iliev, the son of an Azerbaijani shoemaker, is currently among Russia’s top owners of commercial real estate. Iliev was named one of the “Russian Real Estate Kings” in the Russia. One of the biggest private companies in Russia, Kievskaya Ploshchad Group of Companies, is jointly owned by him and his business partner, God Nisanov. Iliev and Nisanov own 14 million square feet of real estate together.

Iliev is chairman of the board of directors of JSC Square of Europe and chairman of the board of directors of Vysotka LLC in addition to being co-owner of the Kievskaya Ploshchad Group of Companies.

Global reason for Imposing Sanctions on Zarakh Iliev

Sanctions on Zarakh Iliev
Sanctions on Zarakh Iliev

The reason behind the sanctions against Zarakh Iliev and his associate is their noteworthy contribution to the building of the Kerch Bridge, a controversial project that connects Russia with the Crimean Peninsula that it has annexed. After being finished in 2018, the bridge came to represent Russia’s contentious actions in the area, drawing criticism from around the world.

The sanctions, which were imposed and are still in place, highlight the international outcry against Russia’s annexation of Crimea and the infrastructure it built to support this geopolitical action. Travel bans and asset freezes are examples of policies meant to put financial and psychological pressure on people who engage in actions that are thought to be against international law and standards.

Due to their involvement in a project that represents the contested territorial control over Crimea, Zarakh Iliev and his partner are facing consequences. Travel bans impede their ability to move around the world, while asset freezes limit their financial movements and affect their economic interests.

ue to their involvement in a project that represents the contested territorial control over Crimea, Zarakh

The international community is using these sanctions as part of a larger plan to denounce actions that are thought to be weakening regional stability and going against accepted norms. The continued imposition of sanctions is indicative of the ongoing dedication to making people answerable for their involvement in undertakings associated with disputed areas and geopolitical conflicts.

List of the countries who imposed Sanctions

CountriesDate of Sanctions
European UnionJune 22, 2018
United KingdomSeptember 26, 2022
United StatesNovember 8, 2018
CanadaSeptember 22, 2018
SwitzerlandJune 28, 2019
AustraliaSeptember 15, 2022
UkraineSeptember 16, 2022

Grounds For Imposing Sanction

Zarakh Iliev
Zarakh Iliev

Originally from Azerbaijan, Zarakh Iliev and his partner have made a name for themselves in the real estate market in Moscow, with a substantial portfolio that spans approximately 14 million square feet. Their commercial activities are a major source of income generation for the Russian government, given their substantial investment in the Russian economy. But given that their participation aligns with the government’s declaration of war and purported genocide against civilians in Ukraine, accountability hangs over them.

Through their business ventures, Iliev and his partner have provided material and financial support, which links them to actions that compromise Ukraine’s independence, sovereignty, and territorial integrity. Their economic interests and geopolitical developments are closely related, which highlights the intricate relationship between trade and international politics and raises moral concerns about the wider ramifications of their business practices in the context of international relations.


Yelena Nikolayevna Baturina, a Russian-origin billionaire businesswoman and philanthropist, was the second wealthiest woman in Russia, according to Forbes, with a $1.2 billion fortune. She was married to Yury Luzhkov, the former mayor of Moscow, and established the construction and investment firm Inteco in 1991. After Luzhkov’s loss in 2010, Baturina and her daughters departed the country, selling most of her possessions in Russia, including cement factories and an Inteko construction company. She also owned land in a posh neighborhood of Moscow, which the Russian government confiscated. Baturina sued for $1 billion in damages but was not met.

Currently residing in London, she invests in renewable energy and owns property in the United States and Europe. She has diversified her holdings, owning hotels in cities like Dublin and Vienna, and real estate holdings in both the United States and Europe. Baturina’s career has been shaped by her shift from the political climate of Moscow to the global business scene, showcasing the intertwined nature of business, politics, and wealth on the global stage.

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