The United Kingdom has imposed sanctions on Rustam Muminov and four Uzbek companies, including the Fergana Chemical Plant, LLC Gelion Business Trade (Tashkent–Jizzakh), LLC JV Chemistry International (Navoiy), and LLC Raw Materials Cellulose (Jizzakh).
The sanctions were imposed on 18 December 2025 by the UK Foreign, Commonwealth and Development Office against “who are or have been involved in destabilising Ukraine or undermining or threatening the territorial integrity, sovereignty or independence of Ukraine; or obtaining a benefit from or supporting the
Government of Russia.” The full text of the document is attached below.
Who has been sanctioned
Rustam Rakhimdzhanovich Muminov is already under sanctions imposed by Ukraine and the European Union. The Fergana Chemical Plant and Raw Materials Cellulose from Jizzakh are also under Ukrainian sanctions. I have written in more detail about these enterprises earlier.
At Raw Materials Cellulose, which is engaged in the production of wood pulp and cellulose, the founders have changed over this period. Larisa Mikhailovna Utkina, who owned 76 percent of the UZS 40.2 billion authorised capital, is no longer among them. In addition to Larisa Rakhimdzhanovna Bikova, Babur Lutfullayevich Kabulniyazov, Azamjon Nurillayevich Valikhonov, and Mamurjon Mahmudjon ugli Alimov have appeared as founders. Each of the four holds a 25 percent stake.
The data on the Fergana Chemical Plant have not changed. Its sole founder remains Mercury Renaissance, which is linked to Rustam Muminov. Previously, Muminov owned 60 percent of Mercury Renaissance.
LLC Gelion Business Trade was registered on 5 February 2024. As of today, 100 percent of the company is owned by Olimkhoja Raimkhojaevich Parpiyev (Parpiyev Olimxo’ja Raimxo’jayevich), who is also its director. The company is engaged in the manufacture of textile products. Previously, the company was registered in Tashkent, and its owner (100 percent) and director was Rahmatjon Raimjonovich Shadiev (100 percent). Its declared activity at that time was wholesale non-specialised trade. The authorised capital of the LLC is UZS 5 million, both now and previously.
JV Chemistry International was registered on 27 October 2021 and is engaged in the manufacture of plastics in primary forms. Its founders are Alliance Capital (76.10 percent) and JSC “Navoiazot” (23.90 percent). The company’s authorised capital amounts to UZS 100.8 billion. The director is Shukhrat Zaerovich Safarov (Safarov Shuxrat Zayerovich).
Rustam Rakhimdzhanovich Muminov was born in Tashkent on 26 December 1953. According to the document, he holds the citizenship of Uzbekistan, Israel, and Russia.
What the sanctions mean in practice
Inclusion on the UK sanctions list means the imposition of an asset freeze. All accounts, funds, and economic resources belonging to the designated individual and companies, as well as to entities owned or controlled by them, are subject to freezing.
Any operations involving these funds are prohibited unless there is a specific licence from the UK Office of Financial Sanctions Implementation (OFSI). Banks and other organisations are prohibited from directly or indirectly making such funds available for the benefit of designated persons.
A separate ban has been introduced on trust services — the use of trusts and trust structures to manage the assets of sanctioned individuals and companies.
Organisations and private individuals are required to report to OFSI any identified accounts and assets linked to persons on the sanctions list. Breaching the sanctions regime or attempting to circumvent it may result in criminal liability.
The extent to which these measures will affect the business of Rustam Muminov and the four Uzbek companies depends on whether they have assets, financial operations, or structures that fall under UK jurisdiction.