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Thursday, June 30, 2022

Sanctions against Russia – at a glance | Russia

UK

The UK has imposed sanctions freezing the assets and imposing a travel ban on eight named individuals and 11 businesses, including six banks. Hundreds more individuals sitting on Russia’s Duma will also face sanctions. Individuals will be banned from all UK transactions – meaning those with children in UK private schools will be unable to pay future fees. Relatives will not, however, be sanctioned personally.

Individuals

Kirill Shamalov
Russia’s youngest billionaire and Vladimir Putin’s former son-in-law. He is a shareholder and director of petrochemical giant Sibur.

Kirill Shamalov
Kirill Shamalov is Russia’s youngest billionaire. Photograph: Sergei Karpukhin/Reuters

Petr Fradkov
Chair and chief executive of Promsvyazbank, he is also the son of Mikhail Fradkov, a former prime minister of Russia and former director of the Foreign Intelligence Service (SVR).

Denis Bortnikov
A deputy president of VTB Bank and chair of its management board. Son of Aleksandr Bortnikov, a the director of the Federal Security Service (FSB), who has been on the sanctions list since March 2021.

Yuri Slyusar
Head of United Aircraft Corporation, major supplier to Russia’s military and a key figure in its defence sector.

Elena Georgieva
Chair of Novikombank, a subsidiary of the major Russian state-backed defence business Rostec.

Gennady Timchenko
The 69-year-old billionaire friend of Russia’s president owns the private investment firm Volga Group, which has holdings in energy, transport, infrastructure and financial services.

Boris Rotenberg
A co-owner of SMP Bank, which is linked to energy firm Gazprom, Rotenberg is described as having “close personal ties” to Putin, a friend since childhood, when they trained in judo together.

Igor Rotenberg
A nephew of Boris’s who also has close ties to Putin. He controls transport businesses and has also been linked to Gazprom.

Politicians

The UK government has also said it will sanction those members of the Russian parliament, the Duma, and Federation Council who voted to recognise the independence of Donetsk and Luhansk.

Banks

VTB Bank
Russia’s second largest bank, VTB is majority-owned by the state, with interests in banking assets across Eastern Europe.

Rossiya Bank
A St Petersburg-based bank owned by a group of billionaires with close links to Putin. It has a stake in National Media Group, which owns TV stations that the UK government says promote the Russian government’s policies and has benefited from expansion in Crimea since the region was annexed by Russia in 2014.

IS Bank
The Moscow-based bank’s development has been “directly tied” to the annexation of Crimea, according to the UK, where it has operated after Ukrainian banks were stopped from doing business.

GenBank
A Moscow-headquartered financial institution that operates extensively in Crimea.

Promsvyazbank
A Russian state-owned bank with the main role of financing defence projects, including nearly 70% of state contracts signed by the Russian ministry of defence.

The Black Sea Bank
A Crimea-based bank that was set up immediately after Russia’s annexation of the region in 2014. The UK government says its operations had consolidated Crimea into the Russian Federation through the financial system.

Pigeons by the head office of VTB Bank.
Pigeons by the head office of VTB Bank. Photograph: Artyom Geodakyan/TASS

Companies

JSC Research
A Russian state-owned group that produces military equipment, particularly tanks, for the country’s armed forces.

United Aircraft Corporation
A state-owned group that controls all Russia’s major aircraft manufacturing companies and is a major supplier of aircraft to its military.

United Shipbuilding Corporation
The largest shipbuilder in Russia, it repairs, maintains and builds craft including several frigates and other warship classes that have been deployed in Crimea and carried out drills in the Black Sea last year.

Rostec
A state-owned conglomerate that invests in defence and technology including weaponry and aviation components.

Tactical Missiles Corporation
One of the most prominent manufacturers of missiles in Russia, specialising in aircraft and naval armaments. It recently announced it was developing seaborne weapons, and was involved in developing coastal defence missile systems in Crimea.

Other measures

Russia’s national airline, Aeroflot, is now banned from UK airspace.

All dual-use export licences to Russia have been suspended with immediate effect. This covers items that could have a civilian or military use, such as electrical components and truck parts.

Under legislation to be tabled next week, key Russian state-owned and private companies will be prevented from borrowing or raising capital on the UK markets or processing any payments through the UK, and Russia will be barred from raising sovereign debt in London.

Further legislation is planned to prohibit a wide range of hi-tech exports, and the export of equipment connected to extracting oil and gas. This is being done in concert with the US.

An Aeroflot Airbus lands in Frankfurt, Germany
Russia’s national airline, Aeroflot, is banned from UK airspace. Photograph: MI News/NurPhoto/Rex/Shutterstock

US

The president, Joe Biden, announced a “first tranche” of sanctions against Russia on Tuesday and updated the list on Thursday. Targets include large Russian state-owned banks, trading in five Russian oil tankers and container ships, and oligarch “elites close to Putin”. It also banned US banks and individuals from trading Russian sovereign debt.

Individuals

Sergei Ivanov
Chief executive of Russian state-owned diamond mining company Alrosa and a board member of Gazprombank, Ivanov is the son of Sergei Borisovich Ivanov, reportedly one of Putin’s closest allies and former chief of staff of the presidential executive office.

Sergei Ivanov, the CEO of the Alrosa diamond mining company
Sergei Ivanov is the chief executive of the Alrosa diamond mining company. Photograph: Mikhail Klimentyev/TASS

Alexander Vedyakhin
First deputy chairman of the executive board of Sberbank.

Andrey Puchkov and Yuriy Alekseyevich Soloviev
Two high-ranking VTB Bank executives.

Denis Bortnikov
See UK sanctions above.

Petr Fradkov
See UK sanctions above.

Vladimir Kiriyenko
Chief executive of VK Group, the parent company of Russia’s top social media platform, VKontakte. He is the son of Sergei Kiriyenko, already sanctioned, who serves as first deputy chief of staff of the presidential office is said to be “Putin’s domestic policy curator”.

Banks

Sberbank
The largest financial institution in Russia, it holds about a third of all bank assets in the country. Within 30 days all US financial institutions have been instructed to close any Sberbank accounts they maintain and reject any future transactions involving Sberbank or its subsidiaries.

VTB Bank
See UK sanctions above.

Otkritie, Novikom, and Sovcom
These three financial institutions hold combined assets worth $80bn (£60bn) and “play significant roles in the Russian economy”, according to the US Treasury. All will now be subject to blocking sanctions.

Vnesheconombank
With $53bn (£40bn) of assets, VEB is one of Russia’s top five banks, and has a “unique role in Russia’s financial system as the servicer of Russia’s sovereign debt” as well as financing exports and a loan portfolio of over $20bn.

Promsvyazbank
See UK sanctions above.

The headquarters of Vnesheconombank.
The headquarters of Vnesheconombank. Photograph: Vladimir Gerdo/TASS

EU

Individuals

Sanctions are being imposed on 27 individuals and entities who played a role in “undermining Ukrainian sovereignty”, 351 members of the Duma who voted in favour of Russia’s recognition of the self-proclaimed republics in Luhansk and Donetsk, and the 11 who proposed it, along with the commanders of the Russian military “peacekeeping” mission. They include:

Sergei Shoigu
Russia’s minister of defence has overseen the military buildup on Ukraine’s borders and is believed to be playing a key role in managing the war effort.

Anton Vaino
Putin’s chief of staff in his executive office who plays an active role in the Security Council of the Russian Federation and advises Putin in the field of defence and national security.

Anton Vaino, chief of staff of the Russian Presidential Executive Office
Anton Vaino plays an active role in the Security Council of the Russian Federation. Photograph: Mikhail Metzel/Tass

Marat Khusnullin
As deputy prime minister for construction and regional development, he is responsible for policies on occupied Crimea, including providing water to Crimea and Sevastopol.

Dmitry Grigorenko
Deputy prime minister and chief of the government staff and chair of the supervisory council of the VTB Bank. As a former director of the Russian tax service, he set up a new tax system in Crimea after its annexation.

Maxim Reshetnikov
Minister of economic development and member of the supervisory council of the VTB Bank.

Nikolay Yevmenov
Commander-in-chief of the Russian navy.

Vladimir Lvovich Kasatonov
Deputy commander-in-chief of the Russian navy.

Igor Osipov
Commander-in-chief of the Black Sea fleet.

Oleg Salyukov
Commander-in-chief of the Russian ground forces.

Sergei Surovikin
Commander-in-chief of the Russian aerospace forces.

Sergey Dronov
Commander of the air force and deputy commander-in-chief of the air and space forces.

Yevgeny Prigozhin
Dubbed Putin’s chef because of the restaurant business in which he made his fortune, Prigozhin’s interests now include a notorious internet “troll factory” in St Petersburg, known as the Internet Research Agency (IRA).

Violetta Prigozhina
Prigozhin’s mother and owner of Concord Management and Consulting LLC, which belongs to the Concord group, founded and owned until 2019 by her son.

Lyubov Valentinovna Prigozhina
Prigozhin’s wife and owner of Agat LLC, a subsidiary of Concord Management and Consulting LLC.

Denis Bortnikov
See UK sanctions above.

Margarita Simonyan, editor-in-chief of RT television news network
Margarita Simonyan is the editor-in-chief of RT. Photograph: Dmitry Feoktistov/Tass

Andrey Kostin
President-chair of VTB– one of the leading state-owned banks in Russia – and a member of the Supreme Council of the “United Russia” political party.
Igor Shuvalov
Head of Vnesheconombank, which has been a key source of funding for Kremlin priorities.

Margarita Simonyan
Described the EU as a “central figure in government propaganda”. She is editor-in-chief of the English language television news network RT (Russia Today).

Maria Zakharova
As Russia’s foreign ministry spokesperson, the 46-year-old is described by the EU as central to government propaganda efforts.

Vladimir Solovyov
Presenter of the Russia-1 channel and Rossia 24, described by the EU as a propagandist.

Konstantin Knyrik
Runs MediaGroup News Front Ltd, a news website registered in the illegally annexed Crimean peninsula, Knyrik is also chief of the Crimean division of the pro-Kremlin Rodina party.

Aleksey Pushkov
A senator from Perm Krai, he is a member of the ruling United Russia party and chairman of the commission on information policy.

Pyotr Tolstoy
Member of the Duma and head of the Russian delegation at the Parliamentary Assembly of the Council of Europe (PACE). He also hosts the TV show Vremya Pokazhet.

Companies

Internet Research Agency
A Russian company engaged in online influence operations on behalf of Russia. Its ultimate objective is to manipulate public opinion through disinformation, the EU has said.

Banks

Rossiya Bank
See UK sanctions above.

Promsvyazbank
See UK sanctions above.

Vnesheconombank
See US sanctions above.

The Rossiya Bank headquarters in St Petersburg, Russia.
The Rossiya Bank headquarters in St Petersburg, Russia. Photograph: Peter Kovalev/Tass

Further measures

Restrictions on access to Europe’s capital market have been imposed, in particular by prohibiting the financing of Russia, its government and its central bank. It is prohibited to directly or indirectly purchase, sell, provide investment services for or assistance in the issuance of transferable securities and money-market instruments by the Russian government or its central bank.

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