The European Union has imposed restrictive measures on two Uzbek enterprises as part of its 20th package of anti-Russian sanctions, according to an update on the European Commission’s website.
The updated blacklist now includes the Fergana Chemical Plant (Farg‘ona Kimyo Zavodi) and Raw Materials Cellulose, located in the Jizzakh province.
The sanctions entail several restrictions, including the freezing of assets within EU jurisdictions and a ban on providing funds or economic resources to these entities.
Overall, the EU’s 20th sanctions package is designed to ramp up pressure on Russia and close loopholes used to circumvent existing restrictions. These measures target energy, finance, and trade, including actions against the so-called "shadow fleet" and the first-ever activation of a mechanism specifically designed to counter sanctions evasion. Notably, restrictions have been placed on 36 energy sector companies, the list of prohibited vessels has expanded to 632, and rules regarding the sale of tankers have been tightened.
In the financial sector, the sanctions hit 20 more Russian banks, crypto services, and several foreign banks accused of aiding evasion. The package also includes new export and import bans totaling hundreds of millions of euros, along with prohibitions on the supply of dual-use technologies and cyber services.
Furthermore, 120 individuals and companies have been added to the sanctions list, including entities from third countries such as Uzbekistan, China, the UAE, Kazakhstan, and Belarus.
In May 2025, Ukrainian authorities imposed sanctions on three Uzbek companies: Mercury Renaissance, the Fergana Chemical Plant, and Raw Materials Cellulose. Two of these entities are linked to Rustam Muminov, an Uzbek citizen who has also been placed under personal sanctions.
Farg‘ona Kimyo Zavodi (the Fergana Chemical Plant) is owned by Mercury Renaissance. As of last year, the latter's ownership was split between Rustam Rakhimdzhanovich Muminov (60%) and Shakhriyor Sakhiyirovich Tadzhiev (40%). Currently, Muminov’s stake is listed under Olga Yuryevna Shagaeva, who is a co-founder of numerous other firms, including Aloqainvest, Breegs, Atrium Tashkent, and several others in finance, investment, and logistics.
The founding structure of Raw Materials Cellulose has also shifted. Originally owned by Larisa Utkina (76%) and Larisa Bykova (24%), the company is now held by a group of four individuals: Larisa Bykova (25.1%), Babur Kabulniyazov (24.97%), Azamzhon Valikhonov (24.97%), and Mamurzhon Alimov (24.96%).
Both the Fergana Chemical Plant and Raw Materials Cellulose were featured in joint investigations by iStories, Vlast.Kz, and the OCCRP, as well as a report by the BBC Russian Service. These investigations allege that the two enterprises supply cotton cellulose to Russian gunpowder factories, both directly and through private intermediaries. Investigative journalists estimate that since the full-scale invasion of Ukraine began in 2022, the volume of these exports has increased severalfold.
In February of this year, Deputy Prime Minister Jamshid Khodjaev announced that the Uzbek government had tightened export controls on cellulose and cotton due to sanctions risks. He clarified that this is not an outright ban but a system of "stringent oversight." Banks now have the authority to suspend transactions if products are deemed to have potential military applications.
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