"I will dedicate all my efforts and resources to assist Uzbekistan and contribute to my country," said Alisher Usmanov.

Billionaire and holder of the 112th spot on the Forbes list, Alisher Usmanov gave an interview to the Italian publication Tgcom24, where he announced that he will focus his efforts and finances in Uzbekistan.

In his interview, Usmanov stated that he has witnessed three distinct eras of Uzbekistan. The first was when the republic was part of the Soviet Union; the second began with its independence in 1991; and the third and current era is the new Uzbekistan, which commenced in 2016.

Reports indicate that Usmanov is currently based in Tashkent. It is presumed that he arrived there following the onset of the war and the sanctions imposed on him by the European Union.

I will exert all my efforts and resources to assist Uzbekistan and be of service to my country. This is my greatest goal, for which I have relinquished actual control of my business and even my role as a shareholder in many of my projects, — Usmanov shares

Usmanov has repeatedly denied being an oligarch, stating: “Those who decided to label me as such merely demonstrated their own ignorance,” adding that he “built” his fortune solely through conducting business in an open market, rather than through gaining benefits from the state.

I have never received gifts from the authorities. In our holding, everything we did was done on market terms, — the businessman added.

Alisher Usmanov and Sanctions

Alisher Usmanov (net worth — $14.6 billion) is the founder and primary shareholder of the USM holding (49%). USM owns “Metalloinvest” and “Megafon.”

On March 1 of last year, Alisher Usmanov was placed under sanctions by the European Union due to Russia's invasion of Ukraine. His two sisters — Saodat Narzieva, a gynecologist from Tashkent, and Gulbahor Ismailova — were also subjected to the restrictions. Usmanov, who holds a degree in international law, expressed disappointment with how the European legal system responded to his case.