Makarov is one of 14 individuals sanctioned under Canada's Special Economic measures regarding Russia.

The individuals have been viewed by the Canadian Government as "close associates of the Russian regime, including Russian oligarchs and their family members, who were sanctioned for their complicity in Russia's unjustifiable invasion of Ukraine."

Russian President Vladimir Putin's two adult daughters Katerina Vladimirovna Tikhonova and Maria Vladimirovna Vorontsova were also sanctioned by the Canadian Government.

Makarov is also included on a list of sanctions in Australia, under the Autonomous Sanctions (Designated Persons and Entities and Declared Persons - Ukraine) Amendment.

Makarov was added to the Australian sanctions list on April 6.

Individuals and businesses can be included on the list in Australia should the Foreign Minister be satisfied that "the person or entity is responsible for, or complicit in, the threat to the sovereignty and territorial integrity of Ukraine."

Engaging in activities of economic or strategic significance to Russia, as well as being current or former senior Russian officials, could also lead to inclusion.

Australia's sanctions include freezing assets, as well as a travel ban on entry to the nation.

Makarov's inclusion on the list would likely rule him out of travelling to Australia for the 2022 UCI Road World Championships later this year.

A UCI Management Committee meeting is scheduled to take place at the World Championships in the city of Wollongong during September.

Makarov is included on the list as President of the Areti International Group, the oil and gas company formerly known as Itera International.

The company was founded in Turkmenistan, but has business interests and affiliated companies in Switzerland, the CIS Countries and the Baltic States, United States, Canada, Western Europe and in the Middle East.

According to Bloomberg, Makarov's Areti Energy SPV company sold more than half its stake in Canadian natural gas producer Spartan Delta Corp last month.

Proceeds from the sale of 15 million shares were reportedly CAD$121.5 million (£75 million/$97 million/€90 million).

Areti previously served as a sponsor for the European Cycling Union (UEC), the Russian Cycling Federation and the WorldTour team Katusha.

Makarov, a former professional cyclist, had founded Katusha and is the Honorary President of the Russian Cycling Federation.

Makarov has been viewed as a key figure in the UCI, with the Russian official having reportedly backed Brian Cookson's successful Presidential campaign, before supporting the Briton’s eventual successor David Lappartient at the next election.

Lappartient and Makarov presented former Turkmenistan President Gurbanguly Berdimuhamedov with the UCI Order in 2020 in recognition of his commitment to cycling, despite human rights criticism.

Turkmenistan had been due to host the 2021 World Track Cycling Championships, but the event was moved due to COVID-19 measures.

Representatives for Makarov reportedly denied the Russian is an oligarch or that he had ties to Putin in a statement to the CyclingTips website last month.

The representatives reportedly declined to provide a comment from Makarov on the war in Ukraine.

Russian and Belarusian national teams are currently banned from all UCI events, while six teams - including Gazprom-RusVelo which rides on the UCI ProTour - have had their UCI team status revoked.

All events due to be staged in Russia and Belarus were withdrawn from the UCI calendar, including both countries' National Championships, with any bids to host competitions not considered.

Russian and Belarusian emblems, names, acronyms, flags and anthems are prohibited at all UCI competitions, including the national champions' jerseys from both nations.

Individual licence-holders from both countries can continue to compete for non-Russian and Belarusian teams or where individual registration is permitted in a "neutral capacity", although organisers have been "requested to withdraw any reference" to both countries.

The UCI allowed officials from Russia and Belarus to remain in their roles "as long as they are not directly implicated in the violation of the Olympic Truce".

insidethegames has contacted the UCI for a comment.