#MileyCyrus and #JustinTimberlake caught up in Russia sanctions row

Helsinki venue in which Miley Cyrus and Justin Timberlake are due to perform is owned by three Russians who have been blacklisted by the US governmentMiley Cyrus and Justin Timberlake have become embroiled in a political row over whether the promoter of their sellout concerts in Finland risks falling foul of US sanctions on Russia, the Financial Times reports .The Helsinki venue in which the American singers are due to perform in May and June, along with other US stars in the coming months, is owned by three Russians who have been blacklisted by the US government in response to Russia's annexation of Crimea. The concerts were booked by Live Nation Entertainment, the world's largest promoter and ticket-seller. Lawyers say Live Nation could be barred from completing any financial transactions with Hartwall Arena in Helsinki unless it receives special dispensation from the US Treasury. Anthony Woolich, a partner at London law firm Holman Fenwick Willan, told the FT that the legality of Live Nation's partnership with Hartwall would probably depend on whether or not all the financial transactions involved had taken place before the sanctions list was released. "If [Live Nation] still has to pay money for the use of the venue that could be a problem," he said. The venue is owned by a company called Arena Events OY, which is 50% owned by Gennady Timchenko, co-founder of oil trader Gunvor and one of Russia's richest men. He is one of 27 Russian businessmen and officials close to Russian president Vladimir Putin who have been sanctioned by the White House. Arkady and Boris Rotenberg, two businessmen brothers and judo friends of Putin who have also been blacklisted, each own 25%. Live Nation told the FT: "We are currently reviewing our portfolio and we will work to ensure the US sanctions against the identified Russians are upheld."

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Write by: Dj Donk - Thursday, April 3, 2014