Following Russia’s invasion of Ukraine, the United Kingdom sanctioned two more Russian oligarchs, Alisher Usmanov and Igor Shuvalov.

Mr Usmanov’s company, USM, previously sponsored Arsenal and, until this week, Everton.

Mr Shuvalov was formerly Russian President Vladimir Putin’s deputy prime minister and is now the chairman of a Russian bank’s management board.

Their assets will be frozen, and they will be barred from entering the UK, under the new restrictions imposed by the UK government.

British citizens and businesses will be barred from dealing with them.

“As long as Putin continues his barbaric attack on innocent Ukrainians, we will continue to use every power we have to inflict maximum economic pain on Putin and his war machine,” Boris Johnson said.

“We won’t stop here,” Foreign Secretary Liz Truss said, adding, “our goal is to cripple the Russian economy and starve Putin’s war machine.”

According to the government, the two men have “significant interests in the UK and close ties to the Kremlin.”

Mr. Usmanov founded USM Holding, an investment group that owns iron, steel, and copper suppliers, as well as the Megafon telecommunications company.

Mr Usmanov’s company sponsored Everton’s training ground and had a naming-rights option for Everton’s new stadium, which is set to open in 2024.

However, Everton suspended the company’s sponsorship arrangements on Wednesday, stating that the club was “shocked and saddened by the appalling events unfolding in Ukraine.”

Mr Usmanov’s business partner, Everton owner and main investor Farhad Moshiri, has since stepped down as chairman of USM and announced that he has severed all business ties with the Russian.