Dubai-based Irish businessman placed on US sanctions list over alleged links to Russian cash

John Hanafin and his Huriya Private firm have been listed along several other individuals and companies used to help Russia evade sanctions.

According to a Treasury statement yesterday “Hanafin facilitated the movement of Russian money into the UAE through Huriya.”

“Hanafin, with assistance from corrupt government officials, also procured fraudulent passports for Russian clients wanting to hide their Russian nationality.”

“Since Russia’s full-scale invasion of Ukraine in 2022, Huriya began working quickly to move Russian assets into structures protecting them from sanctions.”

“Huriya also helped high-net-worth Russian Federation nationals procure non-Russian passports under assumed names to avoid financial scrutiny and sanctions.”

The Office of Foreign Asset Control listing of 22 people and 104 companies across 20 countries is targeting “those attempting to circumvent or evade sanctions and other economic measures against Russia, the channels Russia uses to acquire critical technology, its future energy extraction capabilities, and Russia’s financial services sector.

“From the beginning of President Putin’s illegal and unprovoked war, our global coalition has focused on supporting Ukraine while degrading Russia’s ability to conduct its invasion,” said the US Secretary of the Treasury Janet L. Yellen.

“Our collective efforts have cut Russia off from key inputs it needs to equip its military and is drastically limiting the revenue the Kremlin receives to fund its war machine.”

“Today’s actions will further tighten the vice on Putin’s ability to wage his barbaric invasion and will advance our global efforts to cut off Russian attempts to evade sanctions.”

According to its own website Huriya Private “is an independent, international, award winning private equity, immigration, multi-family office and corporate structuring firm with head office in Dubai, UAE.”

It states the firm advises clients and offers “professional financial services experience with an international network of contacts, and a deep understanding of the needs of the modern-day high net worth client or international family.”

“We provide them with the freedom to travel visa free, and to access and repatriate their wealth, in the most commercial, tax efficient and cost-effective manner possible.”

Companies and individuals placed on a sanctions list can engage with US authorities to have themselves removed from it.

The firm has been contacted for comment.