According to the Wall Street Journal, Russian businessman Mikhail Fridman is ready to transfer $1 billion of his personal fortune to Alfa Bank Ukraine, which was renamed Sense Bank on August 12.

The Russian businessman reportedly hopes to convince the U.K. authorities to lift sanctions against him.

Friedman’s proposal isn’t the only one of its kind, says the WSJ. Many blacklisted Russian businessmen, as well as entire banks and companies, have secretly proposed similar deals to Western authorities, according to the newspaper.

Friedman himself denies that he has made such an offer, but Britain has already responded to the WSJ information.

“Britain does not condone sanctions evasion,” the country’s Foreign Office said.

Hundreds of Russian businessmen and oligarchs came under Western sanctions back in March, shortly after the Russian invasion began, for financial or political support of Vladimir Putin.

Mikhail Fridman owns a controlling stake in Russia’s Alfa Bank.

He and his business partners Petr Aven and Herman Khan are on EU and British sanctions lists, but have so far avoided sanctions from the United States.

At the same time, Alfa Bank, one of Russia’s largest private financial institutions, is blacklisted by the U.S. Treasury.