14 DAY TRIAL // Last week there was a very interesting issue raised by the recent US sanction on all Russian assets. Someone realized that, because the arena in Finland where Miley Cyrus and Justin Timberlake were going to host their concerts was Russian-owned, it was going to be likely for the performances to be canceled.
This week, Billboard confirms that the concerts are going to place at the Hartwall Arena despite the visa ban being enforced by American authorities on Russians because of the country's annexation of the Crimean peninsula.
The concert promoter has apparently confirmed that the concerts held by Cyrus and Timberlake are going to take place regardless of the policy being enforced by the US government. “The sanctions will not have an impact on Hartwall Arena nor our business there,” said Live Nation Chief Executive Nina Castren.
Miley Cyrus and Justin Timberlake weren't the only American acts scheduled for this summer at the Hartwall Arena, as Aerosmith and Nine Inch Nails were also expected to perform in May and June. All concerts are, as of now, going ahead as planned.
It's not mentioned how this exception came to be, considering the fact that the US is determined to strong-arm Russia into a position of submission and hopefully get it to back down.
The entire matter started when Russia annexed the Crimean peninsula, taking it away from Ukraine. The United States, along with other countries, placed sanctions that included asset freezes and visa bans against close allies of Russian President Vladimir Putin.
Sadly, these included the Russian owners of the Finnish arena. Gannady Timchenko, a Russian oil trader, and bothers Boris and Arkady Rotenberg have been holding an important part of the stake in the arena since last year and this meant that the American concerts would be subject to cancelation.
Analysts said at the time that this was a result of glottalization and it showed how nuanced the international market had become, that foreign citizens can own shares and stakes in companies across the world.
This was exactly what the White House was trying to track in regards to top Russians linked to Russian president Vladimir Putin. On March 17, it issued a statement saying that it would “seek to hold accountable individuals who use their resources or influence to support or act on behalf of senior Russian government officials.”
A mere three days later, Timchenko and the Rotenberg brothers were added to that list of people. Little did anyone know that this would come to affect important American acts such as Miley Cyrus and Justin Timberlake.