Print Article

KNOW YOUR 3 TIER CONTROLLERS - U.K. issues Sanctions Russian against Oligarch Mikhail Fridman Executive Assistant Nigina Zairova


A Russian sanctioned oligarch Mikhail Fridman,  transferred ownership of the three entities to a an executive assistance [Nigina Zairova] [not a wealthy sanctioned oligarch!!]

  • Soon after the EU sanctioned him on February 28, and
  • Almost two weeks ahead of the U.K.’s announcement on March 15 that it was also sanctioning him.

However, Her Majesty’s Treasury issued a mass designation of 206 persons for its Russia sanctions on April 13, including Mikhail Fridman, executive assistant

  • NIgina Zairova,

The sanctioning of this obscure individual, to whom Fridman transferred ownership of three U.K.-registered entities six days after Russia began its invasion of Ukraine, calls out an apparent attempt to move assets out of the coverage of U.K sanctions.

This action demonstrates that HM Treasury is scrutinizing the actions of Fridman and other sanctioned Russian oligarchs and will act to counter their moves to shelter their assets from sanctions.


Mikhail Fridman,

IS A sanctioned OLIGARCH WORH $12.5B

  • He is cofounder of Alfa Bank, Russia's largest non-state bank, was hit with sanctions after Russia invaded Ukraine.
  • Soon after, Fridman (who also has Israeli citizenship) stepped down from his Luxembourg holding company, LetterOne, and reduced his shareholding.
  • Fridman's properties in London, including the $100 million Victorian-era Athlone House estate where he mostly lived, have been frozen by the U.K.
  • A Ukraine native, Fridman and his college buddies German Khan and Alexei Kuzmichev started commodities trader Alfa-Eco in 1989.
  • Thanks to Kremlin connections (one of his employees who later served as Putin's chief political advisor) he acquired additional assets in telecom, banking and oil.
  • In 2013 he made $5.1 billion in cash when the trio and partners sold stakes in oil giant TNK-BP for $14 billion.

Nigina Zairova  

  • Zairova, born in Uzbekistan in 1987, is a national of Uzbekistan and the U.K. and has a residence in the U.K.
  • Zairova has held positions as the director of U.K.-registered entities owned by Mikhail Fridman, including Athlone House Ltd., a private limited company incorporated in 2020, and Reashon Holding Ltd., a private limited company incorporated in 2019.

On March 2, Zairova became the legal owner of

  • Athlone House Ltd.,
  • Reashon Holding Ltd., Reashon Ltd. had been incorporated on the same date as Reashon Holding Ltd., with a different individual as its director. and
  • A third Fridman-owned U.K. entity named Reashon Ltd.

The UK sanctions notice declared that in the absence of evidence that the transfers of ownership of the three entities to Zairova were arms-length transactions,

  • “There are reasonable grounds to suspect that Zairova is acting on behalf or at the direction of Fridman,” and
  • “Zairova is therefore associated with and/or acting on the behalf of or at the direction of a person involved in destabilising Ukraine or undermining or threatening the territorial integrity, sovereignty or independence of Ukraine, or obtaining a benefit from or supporting the Government of Russia.”


The Team

Meet the team of industry experts behind Comsure

Find out more

Latest News

Keep up to date with the very latest news from Comsure

Find out more


View our latest imagery from our news and work

Find out more


Think we can help you and your business? Chat to us today

Get In Touch

News Disclaimer

As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email