This Lucerne businessman is on the US sanctions list “You must leave Kiev immediately!”: How the war changed the life of an editor-in-chief

The administration of US President Joe Biden continues to crack down on Russian multibillionaire Suleiman Kerimov. On Monday, the US Treasury Department placed not only close relatives and acquaintances of the already-sanctioned oligarch on a list of “criminal elites” who financed Russian President Vladimir Putin’s regime. The name of the Lucerne entrepreneur Alexander Studhalter is now also on this sanction list.

Washington Treasury Department accusation: Studhalter is a key figure in the financial network that 56-year-old Kerimov has stretched. “Studhalter is also said to have laundered significant amounts on behalf of Kerimov,” a press release said.

While the ministry’s Sanctions Board has provided no evidence to substantiate this claim, it has also blacklisted eight Studhalters companies. These companies are said to be active in Switzerland, Russia and several European countries.

Accused Lucerner rejected accusations

In the spring, when his close relationship with Kerimov was last discussed, Studhalter dismissed the charge that he had maintained offshore structures for his friend. The Lucerne resident also denied through a spokesperson that he helped Kerimov hide or conceal assets. Studhalter also stressed that all of his companies were subject to the Swiss Anti-Money Laundering Act and had been monitored, declared and taxed in Switzerland.

Alexander Studhalter is also a member of the board of directors and the largest shareholder of Highlight Event and Entertainment, a company listed on the Swiss stock exchange. However, this company is not directly mentioned in the US Treasury Department press release.

In addition to Studhalter, two sons of the businessman are sanctioned. You would have headed the sanctioned Swiss International Advisory Group company in Lucerne.

Other Swiss sanctioned

Also new on the Treasury Ministry’s sanctions list is a Swiss subsidiary of a Russian semiconductor manufacturer that is said to be in the orbit of the Russian armed forces. In this regard, the US also approved two other businessmen with Swiss citizenship.

The US Treasury Department sanctions list only applies to people who are US citizens or have US permanent work permits. Doing business with persons or entities on this list is prohibited.

The US is doing everything it can, Treasury Secretary Janet Yellen said Monday, to disrupt the Kremlin’s military supply chain in order to “deny Russia the equipment and technology it needs to wage its illegal war against Ukraine”.