Topline
The European Union will reportedly add Russian oligarchs including Sberbank CEO Herman Gref and aluminum tycoon Oleg Deripaska to its sanctions list as the bloc looks to impose harsher punishments on wealthy Russians with close links to Vladimir Putin’s regime after reports of alleged war crimes committed against Ukrainians by invading Russian forces.
Sberbank President Herman Gref (left) is reportedly a part of the the EU’s fresh sanctions list … [+]
Key Facts
A draft list of the sanctions includes aluminum magnate and former En+ Group president Oleg Deripaska, who was added to the U.K. sanctions list last month and has been under U.S. sanctions since 2018, both the Financial Times and Bloomberg reported, citing unnamed sources.
Another key target of the sanctions is Herman Gref, the CEO of Russia’s largest lender Sberbank, who has also served as an adviser to Putin and been sanctioned by the U.S. and U.K.
Other purported sanctions targets include Said Kerimov, the principal owner of Polyus Gold, Russia’s largest gold producer, close Putin aide and infrastructure tycoon Boris Rotenberg along with several others.
As previously reported, the sanctions list is also expected to include Vladimir Putin’s daughters from his first marriage, Ekaterina Tikhonova and Maria Vorontsova.
The targeted sanctions will be part of a proposed fifth package of penalties against Moscow outlined by the EU on Tuesday, including a ban on the import of Russian coal, additional restrictions on the country’s banking systems and export controls on advanced technology.
Crucial Quote
“I appreciate the strengthening of the 5th EU sanctions package: bans on Russian coal, vessels accessing EU ports, and road transport operators. But it will take a gas/oil embargo and de-SWIFTing of all Russian banks to stop Putin. Difficult times require difficult decisions,” Ukrainian Foreign Minister Dmytro Kuleba said on Twitter.
Key Background
The European Union’s latest sanctions proposals come after widespread global condemnation and outrage against Russia’s alleged war crimes in Ukraine. Harrowing images of dead civilians and mass graves emerged from the city of Bucha near Kyiv last week after the Russian military was forced to retreat from the region. Ukrainian officials say they discovered the bodies of at least 410 dead civilians in Bucha and other suburbs to the north of Kyiv following the Russian retreat. On Monday, President Joe Biden promised more sanctions against Russia and called for a war crimes trial against Putin.
Further Reading
EU set to add high-profile Russian executives to sanctions list (Financial Times)
EU Weighs Sanctions on Oleg Deripaska, Herman Gref and Other Russian Tycoons (Bloomberg)
Source: https://www.forbes.com/sites/siladityaray/2022/04/06/eu-sanctions-will-reportedly-target-several-billionaires-with-close-ties-to-putin/