The 68-year-old Uzbekistan-born billionaire, whose personal fortune is estimated by Forbes to be $12 billion (£9 billion/€10.5 billion), was re-elected for a fourth term as President of the FIE last November.

International Olympic Committee (IOC) President Thomas Bach was on hand at the FIE Elective Congress in Lausanne to personally congratulate Usmanov.

"I congratulate my friend Alisher Usmanov on his re-election as FIE President," Bach said following the election.

"Mr. Usmanov was instrumental in developing fencing all over the world, and I am confident that under his leadership this wonderful Olympic sport will continue its further development."

insidethegames has calculated that Usmanov has donated around CHF80 million (£65 million/$87 million/€77 million) to the FIE over the course of three Olympic cycles to 2020 since being first elected President of the world governing body in 2008.

The sanctions include an asset freeze and a prohibition from making funds available to the listed individuals and entities, as well as a travel ban to prevent them from entering or transiting through EU territory.

In an EU press release this evening, the European Council confirmed "26 persons" had been added to a list of those subject to sanctions.

The statement indicated measures had been taken against those individuals "in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine".

In an updated regulation in the Official Journal of the European Union, Usmanov was named as a "pro-Kremlin oligarch with particularly close ties to Russian President Vladimir Putin".

The document added: "[Usmanov] has been referred to as one of Vladimir Putin’s favorite (sic) oligarchs.

"He is considered to be one of Russia's businessmen-officials, who were entrusted with servicing financial flows, but their positions depend on the will of the President."

The EU report went on to conclude that Usmanov "actively supported materially or financially Russian decision-makers responsible for the annexation of Crimea and the destabilisation of Ukraine" and "actively supported the Russian Government’s policies of destabilisation of Ukraine".

Usmanov is also a major investor in Premier League football club Everton.

it was announced in 2020 that his company USM Holdings had secured a naming rights option on Everton's proposed new Bramley-Moore Dock stadium, with the company signing a £30 million ($40 million/€36 million) deal which granted them first refusal on having the new ground named after them.

Later that year, the name and logo of Megafon, the mobile phone operator owned by Usmanov, was placed on two new towers outside its current stadium at Goodison Park.

USM and Megafon branding still appears pitch side at Goodison Park and as part of the advertising boards for post-match interviews.

A spokesman for Usmanov told insidethegames: "We won’t be providing a comment at this stage."

insidethegames has also contacted the FIE and IOC for comment.