Alisher Usmanov, who has sponsorship links to Everton, has had his assets frozen as part of sanctions imposed by the European Union in response to Russia's invasion of Ukraine.
The Uzbek-born billionaire's USM Holdings sponsors Everton's training ground, with an initial five-year deal announced in 2017.
It also has an option on naming rights for the Toffees' new stadium - a deal worth 30 million pound sterling (40.2 million USD) to the club.
READ: Chelsea's Tuchel asks journalists to stop asking him about war
The EU said in a statement that its Council had "added 26 persons and one entity to the list of persons, entities and bodies subject to restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine".
And a regulation update in the Official Journal of the European Union said Usmanov, a long-time business partner of Everton owner Farhad Moshiri, was among the 26.
ALSO READ: 'We are not even close to it' - Klopp plays down talk of Liverpool quadruple
The statement said restrictive measures included "an asset freeze and a prohibition from making funds available to the listed individuals and entities", while "a travel ban applicable to the listed persons prevents these from entering or transiting through EU territory".
The regulation update describes Usmanov as a "pro-Kremlin oligarch with particularly close ties to Russian president Vladimir Putin".