Topline
The White House on Thursday announced a fresh round of sanctions targeting Russian government officials and elites, including billionaire Alexey Mordashov, chairman of Severstal, Russia’s largest steel and mining company; Sergei Roldugin, a a Russian cellist and close ally of Russian President Vladimir Putin and manager of the Russian leader’s offshore wealth; and Foreign Ministry Spokesperson Maria Zakharova.
Russian billionaire Alexey Mordashov is seen visiting a college in 2020.
Key Facts
The new round of sanctions includes billionaire real estate developer God Nisanov, a close ally of Russian officials, according to the White House; Yury Slyusar, the president of the United Aircraft Corporation, a state-owned firm that produces military aircraft that are being used in Ukraine; and Transport Minister Vitaly Savelyev, who also serves as chairman of Aeroflot.
As part of an effort to target Russian elites’ luxury assets, the White House said it was sanctioning Imperial Yachts, a yacht brokerage and management company that caters to Putin’s inner circle, and the company’s CEO Evgeniy Kochman.
The Treasury Department also said it blocked the use of two yachts, the Russia-flagged Graceful and Cayman islands-flagged Olympia, which it said Putin has used in the past, and identified two other vessels tied to Putin, Shellest and Nega.
The Biden Administration said the actions would help “crack down” on those attempting to evade sanctions and “increase pressure on Putin and his en
Big Number
$19.6 billion. That’s how much Mordashov is worth, according to Forbes’ estimates, making him the 82nd richest person in the world.
Tangent
Mordashov is one of a handful of Russian billionaires who have publicly voiced their opposition to the war, calling the conflict a “tragedy of two fraternal peoples,” and adding “we must do everything necessary” to stop the “bloodshed.” Other billionaires who have called for an end to the war include Ukrainian native Mikhail Fridman, the founder of Russia’s largest private bank, Alfa Bank; Oleg Tinkov, the founder of Tinkoff Bank; and Oleg Deripaska, the founder of Basic Element, a Russian industrial group.
Key Background
The new round of sanctions are the latest attempt by the Biden Administration to put pressure on Putin and his inner circle as the war enters its fourth month. Russian elites and their luxury foreign assets have been among several key targets of Western sanctions since the war began, with officials seizing a host of yachts with ties to Russian owners since Russia began its invasion of Ukraine. The European Union added Roldugin to its sanctions list days after Russia invaded. Combined, Western countries have sanctioned more than a thousand Russian individuals and businesses.
Further Reading
US sanctions more Russian elites, targeting yachts and aircraft (CNN)
More Russian Billionaires Speak Out Against Putin’s War On Ukraine (Forbes)
Source: https://www.forbes.com/sites/madelinehalpert/2022/06/02/white-house-targets-billionaire-mordashov-and-other-russian-elites-in-new-round-of-sanctions/