New US sanctions missed Bulgarian company of sanctioned person helping Russia

The U.S. has sanctioned a Russian network to evade sanctions against Russia controlled by arms dealer Igor Zimenkov. Among the sanctioned companies is the Bulgarian “U-Stone Limited” Ltd. with manager Alexander Wolfovich. The same Wolfovich has recently created another Bulgarian company called U-Stone Technologies EOOD, which is missing from the sanctions list, a check of the BIRD.BG found.

22 individuals and entities from several countries are subject to the new sanctions of OFAC (US Treasury Department’s Office of Foreign Assets Control). This action aims to neutralize a Russian network led by Igor Zimenkov. It was involved in projects related to Russian defense capabilities and supplied high-tech devices after Russia’s invasion of Ukraine, the statement said.

The sanctioned Bulgarian company is U-Stone Limited Ltd., which is currently owned by Cypriot citizen Aleksandr Wolfovich and Spear General Trading from the United Arab Emirates. Spear is also owned by Wolfowicz. In the past, however, shares in the Bulgarian company had Igor Zimenkov and Max Borisovich Piflax.

Alexander Wolfovich also falls under sanctions. OFAC explains that he is “a Cyprus-based arms broker and associate of Zimenkov’s network.

Wolfovich created a Bulgarian company with his Israeli passport

Alexander Wolfovich is the sole owner and manager of another Bulgarian company – U-Stone Technologies EOOD, a BIRD.BG in the Commercial Register showed. There he was present not with his Cypriot passport, but with an Israeli identity document.

There is no doubt that this is the same Wolfowicz, as the date of birth of Wolfowicz from U-Stone Limited Ltd. coincides with the date of birth of Wolfowicz from U-Stone Technologies Ltd.

It is not clear why this company is not on the list of sanctioned companies. It was registered recently, on 27.10.2022 in Burgas. At the same address – Maragidik 19, there are more than 150 other companies registered. The sanctioned “U-Stone Limited” Ltd. is registered in Sofia on ul. Lyuben Karavelov 32.

The announcement of the new US sanctions comes on the day when the Bulgarian Prosecutor’s Office boasted of a visit by Prosecutor General Ivan Geshev to the United States. Earlier, he was criticized by Congressman Warren Davidson for tolerating US sanctions against Russia and corrupt representatives of the Bulgarian government.

The case of U-Stone Technologies, which was lost by the US authorities, raises questions about the effectiveness of the US services in Sofia, which should collect and submit accurate and up-to-date information to OFAC before the announcement of sanctions. In the most elementary search in the Commercial Register with the name Wolfowicz, both companies are visible.

Indeed, there is a slight difference in the spelling of Wolfovich’s first name. In U-Stone Limited Ltd. Wolfovich is Alexander, and in U-Stone Technologies is Alexander. However, this should not make it particularly difficult for Kozyak’s experienced associates.

***

Разследващата журналистика е разузнаването на гражданите. BIRD се финансира от дарения. Ние не публикуваме реклами. Не получаваме държавни субсидии. Не разчитаме на грантове. Финансирането чрез малки дарения от читатели е гаранция за нашата независимост. Включете се, за да продължим да разкриваме злоупотреби и да държим отговорни властимащите. Използваме Вашите пари за хонорари на журналистите, командировки, изграждане и поддръжка на нашите информационни системи, такси за фирмени и имотни регистри у нас и по света, придобиване на техника и специално оборудване, осигуряване на нашата безопасност и други важни работни мисии. Важно: Ако дарявате всеки месец това ще ни даде възможност да планираме и организираме нашата работа. Благодарим Ви! Нас ни има, защото Вас Ви има!

This post is also available in: Български (Bulgarian)