The announcement comes a day after AIBA submitted a crucial update report to the International Olympic Committee (IOC) as an assessment continues over whether the sport can remain on the Olympic programme. 

IOC President Thomas Bach warned in February that the appointment of Rakhimov was among "serious problems" that AIBA faced.

The United States Treasury announced sanctions in December on 10 individuals associated with the alleged Eurasian criminal entity, the Thieves-in-Law.

Rakhimov, who according to reports holds both Uzbek and Russian passports, was among those included on the sanctions.

An AIBA statement today confirmed how the 66-year-old had "instructed lawyers" in Washington D.C. and London to submit a petition to the US Treasury’s Office of Foreign Assets Control aimed at removing Mr Rakhimov’s name from their “Specially Designated Nationals List”.

This is hailed as "one of Mr. Rakhimov’s vigorous steps to clear his name and reputation from unfounded allegations in the media".

He has retained the services of US lawyers Ferrari & Associates as well as libel lawyers Carter-Ruck in London. 

The latter company are orchestrating a petition aiming to "demonstrate that Mr. Rakhimov does not meet the criteria for designation, and will address allegations against the Interim President derived from political persecution and harassment in Mr. Rakhimov’s birthplace, Uzbekistan, initiated by the regime of the previous President of Uzbekistan [Islam Karimov]".

They intend to pursue the US Treasury appeal with "all due dispatch" so that Mr. Rakhimov’s name may be cleared as soon as possible.

Rakhimov's alleged mafia links saw him banned from entering Australia to attend the Sydney 2000 Olympic Games but he has long been a powerful figure in the world of international sport and has served as President of the Asian Boxing Confederation and as vice-president of AIBA for 15 years.

Rakhimov was also on Interpol's most wanted list before being removed last September. 

"Gafur Rakhimov is being designated for providing material support to the Thieves-in-Law," a US Treasury statement last year read.

"Rakhimov has collaborated with Thieves-in-Law on business, as well as assisted Thieves-in-Law by providing warning of law enforcement issues, arranging meetings, and addressing other problems.

"Rakhimov has been described as having moved from extortion and car theft to becoming one of Uzbekistan’s leading criminals and an important person involved in the heroin trade."

The US Treasury sanctions prohibit any persons from conducting financial or other transactions with these individuals and entities, and freezes any assets they may have under American jurisdiction.

“I have never been associated with any organised crime group, and I have never been charged with, let alone convicted of, any crime by the authorities in any jurisdiction in the world," Rakhimov said in the AIBA statement.

"While the US Treasury appeal goes forward I am continuing my efforts to restore good governance and financial stability to AIBA. 

"I truly believe my love for boxing and AIBA will conquer any challenge and despite the unfounded accusations against me I am determined to continue to devote my life to the sport."

This comes as Rakhimov attempts to lead AIBA's recovery from a multitude of financial, administrative and judging problems which culminated in the resignation of former President C. K. Wu last year amid public opposition from his Executive Committee.

The IOC have warned that boxing could be expelled from the Tokyo 2020 Olympic programme if the problems are not addressed to their satisfaction.

insidethegames has contacted the US Treasury Department for a reaction.