The UK has cracked down on a number of monetary fixers supporting Russian oligarchs reminiscent of Roman Abramovich and Alisher Usmanov, the federal government revealed in an announcement.

The newest sanctions, unveiled on Wednesday, goal “those that have knowingly assisted sanctioned Russia oligarchs to cover their belongings in complicated monetary networks” and embody Cypriots Demetris Ioannides and Christodoulos Vassiliades.

Ioannides was answerable for crafting offshore constructions that Abramovich used to cover greater than £760mn belongings earlier than he was sanctioned within the wake of Russia’s invasion of Ukraine, the assertion stated.

Vassiliades was “on the centre of an internet” of trusts and offshore firms that linked Usmanov and Sutton Place Property.