The Office of Financial Sanctions Implementation HM Treasury reported that businessman Igor Viktorovich Makarov (Игорь Викторович Макаров) had been removed from the Russia sanctions list.
In 1992, Igor Makarov founded the Itera International Group of Companies and became its head. It was the first private gas company in Russia and post-Soviet space. The company not only extracted gas and oil independently, but also conducted geological exploration. In 2013, Igor sold ITERA.
On September 26, 2022, the businessman was sanctioned by the UK for supporting or benefiting from the Russian government and activities in strategically important industries.
Presently, Igor Makarov is a Cyprus national and tax resident.
Igor Makarov also founded a new company, ARETI, in 2015. It is registered in Cyprus and has business interests in Central Asia, Europe, the US, Canada, and the Middle East.
