US blocks company worth over $1bn linked to Russian oligarch

Suleiman Kerimov secretly managed the Delaware-based Heritage Trust, says US treasury department

The United States has blocked a US-based company worth more than $1bn linked to Russian oligarch Suleiman Kerimov, saying the ally of President Vladimir Putin used it to funnel and invest shadowy funds.

The treasury department said that Kerimov, a billionaire active in Russian politics, secretly managed the Delaware-based Heritage Trust which put its money into a number of large public companies.