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March 24, 2014 AT 9:00 AM
A Russian billionaire said on Monday he planned to relocate his company that runs the Brooklyn Nets basketball team to Russia in keeping with the Kremlin's call on Russian businessmen to repatriate their assets to help combat new U.S. sanctions. The United States and European Union have imposed visa bans and asset freezes on officials and businessmen believed to be close to Russian President Vladimir Putin in protest at Moscow's annexation of Ukraine's Crimea region. Mikhail Prokhorov, owner of the Brooklyn Nets, had said before that he planned to relocate the company that runs the NBA team to Russia, but his comments to reporters in the Kremlin underlined his support for Putin.