Tower Development with Alleged Kremlin-Linked Owner Hits Roadblock

MENLO PARK, CA – A controversial development at 80 Willow Road is facing a significant roadblock after the Menlo Park City Council refused to approve it. 

Days before, the property’s owner, billionaire Vitaly Yusufov, drew scrutiny for his reported ties to Kremlin officials and individuals linked to organized crime when Congressman Sam Liccardo (CA-16) called on Treasury Secretary Scott Bessent to launch an immediate federal review of the project’s ownership and financing. Liccardo urged the Office of Foreign Assets Control and the Committee on Foreign Investment in the United States to investigate Yusufov and consider sanctions if the review uncovered sanctionable conduct.

“We need more housing, but our housing shortage cannot turn our communities into safe harbors to avoid sanctions or launder illicit funds,” said Liccardo. “This marks an important step toward keeping Kremlin-linked money out of our community and protecting our national security.”

Four of Congressman Sam Liccardo’s bipartisan housing bills were enacted into law. Read more about his efforts to boost our nation’s housing supply here.