Add The California Post on Google U.S. sanctions against the son of a Vladimir Putin crony could stop the building of a 39-story tower located at the former Sunset Magazine headquarters in Menlo Park.
The Russian property owner Vitaly Yusufov faces sanctions in Ukraine, while his father Igor Yusufov, who is a former Russian Energy Minister, also faces sanctions in Ukraine and in Canada. He was worth about $1.1 billion, according to Forbes, and is the founder of an investment vehicle called Fund Energy.
The Department of Treasury’s Office of Foreign Assets Control says that sanctions can lead to individuals and entities not being able to engage in certain trade, financial transactions and lead to the freezing one’s assets.
Some residents, however, are preparing to raise concerns about Yusufov with the Committee on Foreign Investment in the United States, according to the Palo Alto Daily Post.
Resident Maria Kleczewska said previously: “I urge you to fight the 80 Willow project despite the risk of massive legal fees. This project will be the ruin of our beautiful city.”
“How many residents will be looking at that monstrosity from their streets and yards instead of the open sky and trees that we love to see? How many houses will be in shadow? How many streets will experience a dramatic increase in traffic?”
“Argue back at the Attorney General. He ain’t the only lawyer in town. Reject the developer’s deadline. Who died and made him God?” another resident said.
Menlo Park Councilmember Drew Combs told the Palo Alto Daily Post that the council’s officials have not contacted the U.S. Treasury Department’s Office of Foreign Assets Control or Rep. Sam Liccardo’s office about potentially seeking sanctions against Vitaly Yusufov.
In 2019, Yusufov purchased the seven-acre property at 80 Willow Road for $72 million.
His plans call for developing it into 665 apartments, a hotel, office space and a preschool spread across three towers.
The tallest tower would rise 461 feet, which would make it the tallest building between San Francisco and Los Angeles.
The project has also drawn the attention of California Attorney General Rob Bonta’s office.
In a July 27 letter, Bonta’s office said Menlo Park improperly changed its justification for rejecting the proposal.
Oisín Heneghan, the developer behind the 80 Willow Road project, then sent the council a letter on Aug. 3 arguing that the project must be approved by Oct. 27.
Both Heneghan and the Attorney General’s Office cited Assembly Bill 712, a state law aimed at strengthening enforcement against local governments that fail to comply with California housing laws.
Concerns come amid continued scrutiny in Washington over the financial and political activities of wealthy Russians with ties to President Vladimir Putin.
