It’s not more complicated. Following emphasis mine.
https://en.m.wikipedia.org/wiki/International_Boxing_Association
AIBA TO IBA: “In December 2021, the abbreviated name was changed to IBA in an attempt to rebrand the organisation and distance itself from the former administration.”
“…The organization has been involved in multiple corruption scandals including on several editions of the Summer Olympic Games. In December 2017, the International Olympic Committee (IOC) expressed concerns about the governance of AIBA…”
“…In September 2021, an independent report found that bouts leading up to and during the 2016 Rio Olympics had been manipulated. To investigate boxing at the 2016 Summer Olympics and potential corruption of the AIBA, Canadian lawyer Professor Richard McLaren was appointed by AIBA to conduct a three-stage investigation. The report found bouts had been manipulated for money (up to $250,000), the perceived benefit of AIBA…”
“The IOC had been alarmed by the fact that the IBA’s only sponsor is a Russian state-run energy giant Gazprom that supports the Russian invasion of Ukraine”
“In February 2023, USA Boxing announced its decision to boycott the 2023 World Championships (organized by the International Boxing Association)…, also accusing the IBA of attempting to sabotage IOC-approved qualification pathway for the 2024 Summer Olympics.”
The IBA is a corrupt organization, funded by a Russian, state-run, company. Them disqualifying someone carries no weight.
CNN Post with video. Quote starts at 1:07 mark