The UK has imposed sanctions on two more Russian businessmen.
The company USM had sponsorship ties with bothEverton andArsenal.
Mr Shuvalov was a deputy prime minister.
The two men are being contacted by the BBC.
They will be banned from travelling to the UK if their assets are frozen.
British citizens and businesses will not be allowed to deal with them.
The Foreign Secretary said that the sanctions against Shuvalov and Usmanov send a clear message that we will hit the people associated with the Putin regime.
We will continue to cripple the Russian economy and starve Putin's war machine.
The government said that the two men had close links to the Kremlin.
The government said that Mr. Usmanov owned a number of properties, including a 16th century estate and a house in Highgate.
It said Mr Shuvalov owned two luxury apartments in central London.
The Foreign Office says it has established an Oligarch Taskforce to co-ordinate work to sanction more oligarchs.
The EU froze the assets of a pro-Kremlin businessman who had close ties to the Russian president.
At the time, Mr Usmanov said that he would use all legal means to protect his honor and reputation.